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? – ANSWERChlorine 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? – ANSWERIncreasing 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: – ANSWERExtra 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: – ANSWERAllow 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? – ANSWERRe-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
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