CMCA Sample Exam | 50 Questions with 100% Correct Answers | Verified
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1. Quorum requirements conflicts are resolved by: a. state statute. b. the board of directors. c. a vote of those present at a meeting. d. appointment of a person as a proxy. - ANS - A 2. Fidelit... y insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. deductible in the association's insurance policies is reimbursed. d. association will be covered for shortfalls in the reserve accounts. e. association will recover any funds lost through employee dishonesty. - ANS - E 3. Which type of management is the process of operating, maintaining, repairing, and replacing common property? a. Human Resources b. Facilities c. Financial d. Risk - ANS - B 4. The higher a document's place in the hierarchy, the: a. harder it is to implement. b. greater its power with the board. c. more it is regulated legally. d. greater its legal weight in a court of law. - ANS - D [Show More]
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