CMCA EXAM 2025/2026 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)|AGRADE

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CMCA EXAM 2024/2025 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)|AGRADE Why are special membership meetings held? - --ANSWER>>>To conduct specific business Executive sessions should typically be used for discussing which of the following issues: - --ANSWER>>>Member's delinquency Which of the following is a duty of a manager attending a board meeting? --ANSWER>>>Be the time keeper. If the governing documents and laws present conflicting notice periods, follow: - --ANSWER>>>State laws. If an owner fails to receive notice of a meeting, the association is not responsible if the owner: - --ANSWER>>>Did not notify the association of their current address. Board meeting minutes should include which of the following: - -ANSWER>>>Exact wording of each motion. If a proxy vote needs to be approved, the best option for an approver would be: - --ANSWER>>>The secretary. Where would a manager find guidelines regarding the association's responsibility for maintaining physical assets? - --ANSWER>>>Board resolutions. The primary management control tool for identifying whether the association needs to maintain a particular property element is: - -ANSWER>>>Maintenance responsibility chart. To determine which physical assets must be maintained by the association, the manager should: - --ANSWER>>>Review the association governing documents. Which of the following is a common management control for ensuring maintenance work is performed in a timely manner? - --ANSWER>>>A work order/response form. When monitoring maintenance of an association's swimming pool, which of the following should be entered into a permanent log at regular intervals? --ANSWER>>>Chlorine level readings. Which of the following is an example of an association control system? - -ANSWER>>>Frequent neighborhood inspections. A work order: - --ANSWER>>>Assigns maintenance tasks. Which type of maintenance should be managed with a routine maintenance contract? - --ANSWER>>>Cutting the grass Which method is the best alternative to increasing assessments? - -ANSWER>>>Increasing income by charging higher user fees. When the Board reviews the proposed budget for approval, what should it consider? - --ANSWER>>>The financial position of the association. What is the primary source of requirements when developing the association's annual maintenance budget? - --ANSWER>>>Governing documents. When an association contracts out all of its service and has no employees, it is a best business practice to: - --ANSWER>>>Negotiate contracts within the bidding process. Directors and officers liability insurance is designed to cover claims resulting from: - --ANSWER>>>Wrongful acts of employees of the association. A component of building ordinance insurance coverage includes: - -ANSWER>>>Extra demolition. Which of the following types of insurance coverage is one of limited value to a community association? - --ANSWER>>>Assessment fee receivable. What section of an insurance policy describes the coverage limits, deductibles, policy period, and premium? - --ANSWER>>>Declaration page(s). To provide for payment of the insurance deductible, you would: - -ANSWER>>>Allow for costs in the operating budget. Liability claims should be sent to the insurer: - --ANSWER>>>Without admitting negligence. What does "Co-Insurance" obligate the Association to do? - -ANSWER>>>Maintain certain limits of insurance. Legal review prior to executing a contract will assist the association in the event that: - --ANSWER>>>The board has questions or concerns. In older condominiums, an association should have what type of contract covering mechanical equipment? - --ANSWER>>>Preventive maintenance. Rather than describing the scope of work in detail in the contract, a manager may: - --ANSWER>>>Attach bid specifications. Alternative dispute resolution includes which of the following methods? - -ANSWER>>>Mediation. Employment contracts need not include: - --ANSWER>>>Interests. In terms of compensation, a contract should state: - --ANSWER>>>When and on what terms payment(s) will be made. Preparing a bid request includes which of the following? - -ANSWER>>>Identifying potential contractors. For which project would a board most likely want to use a consultant to help develop bid specifications? - --ANSWER>>>Repairing and/or replacing all roofs. In what type of a contract would a waiver of lien be recommended? - -ANSWER>>>Re-roofing the buildings. When a dispute is mediated, an uninvolved third party facilitates discussion and: - --ANSWER>>>Assists both parties in reaching a mutually acceptable agreement. You have a proprietary lease in XYZ development. Which of the following best describes your interest in the property? - --ANSWER>>>Stock membership. Management conducts its tasks for the day to day operation of the association in accordance with the: - --ANSWER>>>Contract. The Board of Directors receives its authority to perform its specific duties through the: - --ANSWER>>>Governing documents. Which of the following is within the authority of the Board of Directors? - -ANSWER>>>Establishing programs. In preparing the association's annual financial report, many governing documents specify: - --ANSWER>>>Retaining an independent certified public accountant. In an initial letter you send to an owner who has violated one of the association's adopted rules, which of the following is included? - -ANSWER>>>The offer to meet to hear the owner's viewpoint. In the hierarchy of a community association's governing documents, which of the following is the highest authority? - --ANSWER>>>Declaration. When developing a rule, it must be consistent with: - -ANSWER>>>Applicable statutes and governing documents.