CMCA Knowledge 2

Question 1

Under the Fair Housing Act, which of the following is NOT a protected class at the federal level?

Accepted Answer

Source of income

Answer

Source of income is not a federally protected class under the Fair Housing Act, though some states and localities have added it.

Question 2

A condominium association's declaration is best described as which type of document?

Accepted Answer

A recorded legal instrument that creates the condominium

Answer

The declaration (or master deed) is the recorded governing document that legally creates the condominium and runs with the land.

Question 3

What is the primary purpose of an operating reserve in a community association's budget?

Accepted Answer

To cover day-to-day operating expenses and cash flow needs

Answer

An operating reserve provides a cushion for unanticipated operating expenses and timing gaps in cash flow during the fiscal year.

Question 4

Which document typically outlines the procedures for conducting board meetings and election of officers in a community association?

Accepted Answer

Bylaws

Answer

Bylaws govern the internal administration of the association, including meeting procedures, quorum requirements, and officer elections.

Question 5

An association manager discovers that the board has been paying a vendor owned by a board member without prior disclosure. This is an example of:

Accepted Answer

A conflict of interest requiring disclosure and recusal

Answer

A board member with a financial interest in a vendor must disclose the conflict and typically recuse themselves from the vote.

CMCA - Certified Manager of Community Associations Practice Test