Literary Studies > EXAM > CMCA TEST PREPARATION 2024 COMPLETE STUDY QUESTIONS WITH VERIFIED ANSWERS GUARANTEED PASS | RATED A+ (All)

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CMCA TEST PREPARATION 2024 COMPLETE STUDY QUESTIONS WITH VERIFIED ANSWERS GUARANTEED PASS | RATED A+

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How does an Association derive its legal obligations - Answer>>> Federal, State and Local statues/ CC&Rs, Lender Requirements (Fannie Mae & Freddie Mac) and Standards set by professional bodies like... AICPA. Percent funded reserve account - Answer>>> Allows the HOA to measure the relative size of their replacement reserves compared to a fully funded reserve balance. Acceleration - Answer>>> Collection of all assessments due through the end of the fiscal year. Motion - Answer>>> A proposal that the Board takes a stand or takes action on a specific matter. Motions should only be made for items listed on the agenda. Agenda - Answer>>> Announcement of the order of business for a meeting. It's a meeting management tool. Parliamentary Procedure - Answer>>> Set of rules for conduct at a meeting- ex Robert's Rule of Order. Presiding Officer - Answer>>> Person who runs a Board Meeting- typically the President or Vice President. Minutes - Answer>>> Taken by Secretary of the Board. Action Item List - Answer>>> List of actions to be taken before the next meeting as a result of decisions made at the current one or between meetings. Ballot - Answer>>> Written means of voting when secrecy is desired. Proxy - Answer>>> Written statement authorizing another person to cast a vote on the signer's behalf. Ethics - Answer>>> Involves learning what is right and wrong and then doing the right thing. Business Ethics - Answer>>> Knowing what is right and wrong in the workplace and doing what's right. Professional Ethics - Answer>>> Rules or standards governing conduct of members of a profession. Conflict of Interest - Answer>>> Situation in which an individual's duty to one leads to the disregard of a duty to another. CAI's Designation Code of Conduct for Management - Answer>>> Sets forth the general and technical standards for integrity and objectivity, professional courtesy, conflict of interest, use of client funds and limitations of practice. [Show More]

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