CMCA Cheat Sheet 2026

The 30 highest-yield CMCA facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. In most U.S. states, a community association that directly employs staff is required to carry which insurance coverage to protect employees injured on the job? → Workers' compensation insurance
2. What is the purpose of an annual community survey sent to homeowners? → To gather homeowner feedback on services, priorities, and satisfaction to inform planning
3. The board wants to change the time of the annual meeting from 7 PM to 10 AM. Which governance step is required before implementing this change? → A board resolution alone is sufficient if the bylaws do not specify the time
4. A fidelity bond (employee dishonesty coverage) in a community association context primarily protects against: → Theft or fraud by employees or board members who handle association funds
5. As part of HR management, discipline might include: → Counseling the employee
6. A reserve study conducted by an outside professional that includes a site visit and component analysis is classified as a: → Level I Full update with site visit
7. An association that consistently underfunds its reserves risks which primary consequence? → Lower property values due to deferred maintenance and potential special assessments
8. Which financial statement best shows an association's reserve fund balance at a specific point in time? → Balance sheet or statement of financial position
9. Which contract clause protects a community association if a vendor's employee is injured on the property during work? → Indemnification and hold harmless clause
10. A homeowner submits a written complaint about a neighbor's violation. The board's first step in the enforcement process should be to: → Conduct an independent investigation to verify the violation
11. What does 'adequate reserves' mean in the context of community association management? → Having sufficient funds set aside to repair or replace common elements as they wear out
12. Which type of liability coverage protects a community association board member sued for making an honest mistake in their governance decisions? → Directors and Officers (D&O) liability
13. A homeowner claims a fence they installed does not violate the CC&Rs because the rules only prohibit 'wooden' fences and theirs is vinyl. This is an example of: → Strict constructionism that may or may not reflect the intent of the document
14. A community manager discovers a conflict between the association's rules and regulations and its bylaws. Which document generally controls? → Bylaws
15. An association manager notices that a homeowner has installed a satellite dish on the exterior of their unit. The manager should: → Review the CC&Rs and applicable federal OTARD rules before taking any enforcement action
16. A homeowner submits a formal written complaint about a neighbor's noise violations. What is the best first step for the community manager? → Acknowledge receipt of the complaint in writing and begin an investigation
17. What is the primary purpose of an architectural review committee (ARC) in a community association? → To maintain the appearance and integrity of the community
18. Which accounting method records income when earned and expenses when incurred, regardless of when cash is received or paid? → Accrual basis accounting
19. A community association's fidelity or crime insurance policy is specifically designed to cover: → Employee theft or dishonest acts that result in financial loss to the association
20. What is the primary purpose of a reserve study in property maintenance planning? → To estimate future repair and replacement costs of major components
21. Which of the following is typically funded from an association's operating budget rather than the reserve fund? → Annual landscape maintenance contract.
22. Common elements in a condominium are typically maintained by: → The condominium association, funded through assessments
23. Under the Fair Debt Collection Practices Act (FDCPA), which party collecting HOA assessments is most directly regulated? → Third-party collection agencies and attorneys hired by the association
24. What financial statement shows an association's assets, liabilities, and equity at a specific point in time? → Balance sheet
25. Under the Uniform Common Interest Ownership Act (UCIOA), the term 'common interest community' includes: → Condominiums, planned communities, and cooperatives
26. Which of the following is a typical management control that guarantees maintenance work is completed on schedule? → A work order/response form
27. Which of the following best describes an 'easement' referenced in a Declaration? → A right to use another's property for a specific purpose
28. A service contract's payment terms specify 'net 30.' The association pays the invoice 45 days after receipt. What is the likely consequence? → The vendor may charge late fees as specified in the contract
29. A community association manager's primary client is: → The board of directors acting on behalf of the association
30. An association's right to place a lien on a delinquent owner's unit for unpaid assessments is typically found in which governing document? → Declaration or CC&Rs