CMCA CMCA - Certified Manager of Community Associations Assessments and Collections Questions and Answers 2

Question 1

Under most state statutes, how far in advance must a homeowner be notified before a lien is filed for delinquent assessments?

Accepted Answer

30 days

Answer

Most state statutes require at least 30 days written notice to the homeowner before the association can file a lien for unpaid assessments, giving the owner a chance to cure the delinquency.

Question 2

Which collection method allows an association to intercept a delinquent owner's rental income to satisfy unpaid assessments?

Accepted Answer

Rent intercept

Answer

A rent intercept allows the association or a court-appointed receiver to collect rent directly from a tenant in a delinquent owner's unit and apply it toward unpaid assessments.

Question 3

What is the primary purpose of an association's collection policy?

Accepted Answer

To establish consistent, legally compliant procedures for pursuing unpaid assessments

Answer

A collection policy establishes uniform, legally compliant procedures so that all delinquent owners are treated consistently, reducing the association's legal risk and ensuring fair enforcement.

Question 4

Special assessments differ from regular assessments primarily because they are:

Accepted Answer

Levied for extraordinary or unanticipated expenses beyond the regular budget

Answer

Special assessments are one-time levies imposed to cover unexpected or extraordinary costs that exceed what the regular budget can accommodate.

Question 5

A payment plan agreement between an association and a delinquent homeowner should include which essential element?

Accepted Answer

An acknowledgment of the total debt owed and clear repayment terms

Answer

A valid payment plan agreement must include the total amount owed, repayment schedule, consequences of default, and the owner's acknowledgment of the debt so both parties are protected.

CMCA - Certified Manager of Community Associations Practice Test

CMCA - Certified Manager of Community Associations Practice Test

CMCA CMCA - Certified Manager of Community Associations Assessments and Collections Questions and Answers 2