M100 Study guides, Class notes & Summaries

Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Certain documents bind all owners to be governed by the community association. - Answer- c. A r...

CMCA M100 WITH COMPLETE SOLUTIONS 100% Negligence failure to exercise a duty of care Ethics learning right from wrong and doing the right thing. Duty of Care exercising the skill and care a reasonable person would i a similar situation Duty of Loyalty acting solely in another parties interests when administering their assets Acceleration the collection of all assessments due thru the end of the fiscal year accrual basis of accounting accounting method that records...

FRIT-M100 WITH COMPLETE SOLUTIONS 100% Bonasera Good evening Buonatte Good night A domani See you tomorrow A presto See you soon arrivederLa Goodbye (formal) Arrivederci Goodbye (informal) Buona Giornata Have a nice day! Come sta? How are you? (formal) Come stai? How are you? (informal) Anch'io Me too Cosi cosi so-so Non c'é mal Not bad Sto male I am not well. Come si chiama? What is your name? (formal) Come ...

HUMAN RESOURCES - M100 WITH COMPLETE SOLUTIONS 100% What is Human resources management? Human resources management (HRM) is the process of planning, organizing, leading, and controlling an association's human resources (its employees) in order to achieve the association's goals. HRM involves: - Establishing and administering HRM systems - Complying with applicable federal, state, and local laws and regulations - Recruiting, screening, and selecting people - Training and developing peop...

M100 WITH COMPLETE SOLUTIONS 100% Community Association Legal entity in which the owners enjoy the protection, enhancement, maintenance, and preservation of their homes and property Three defining characteristics of Community Association Mandatory Membership, Mutually Binding Documents, and Lien-Based Assessments Mandatory Membership Membership in the community association is mandatory and automatic for all owners Mutually Binding Documents Certain association governing documents...

M100 WITH COMPLETE SOLUTIONS 100% Community Association a legal entity in which the owners enjoy the PROTECTION, ENHANCEMENT, MAINTENANCE and PRESERVATION of their homes and property. 3 Defining Characteristics of a Community Association 1. Membership in the community is MANDATORY and automatic for all owners. 2. Certain association governing documents bind the owners and the association to each other through mandated actions. 3. Mandatory lien-based assessments (maintenance fees) are ...

M100 COMMUNITY ASSOCIATION MANAGEMENT WITH COMPLETE SOLUTIONS 100% Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Certain documents bind all o...

M100 MODULE 2: LESSON 3: FINANCIAL STATEMENTS WITH COMPLETE SOLUTIONS 100% What are two primary purposes of financial reports? - To provide their internal & external users with the information needed to make appropriate decisions on behalf of or regarding the community association - to enable the community association board and manager to control the community's financial operations. Three Accounting Methods 1) Cash Basis- This method records revenue when it is collected and expenses w...

M100 MODULE 2: LESSON 3: FINANCIAL STATEMENTS WITH COMPLETE SOLUTIONS 100% What are two primary purposes of financial reports? - To provide their internal & external users with the information needed to make appropriate decisions on behalf of or regarding the community association - to enable the community association board and manager to control the community's financial operations. Three Accounting Methods 1) Cash Basis- This method records revenue when it is collected and expenses w...

M100 MODULE 3: WITH COMPLETE SOLUTIONS 100% Analysis Sheet Facilities Management operating, maintaining, repairing, and replacing common property or areas Brainpower Read More Four community association maintenance goals 1) meet the needs of the individual residents as they relate to the community association's responsibilities 2) preserve and enhance the common property 3) limit potential exposure to injury residents, guest and employees 4) protect property values of the ho...

M100 RULE DEVELOPMENT & ENFORCEMENT (MODULE 1) WITH COMPLETE SOLUTIONS 100% What is the criteria needed to create a valid rule? (6) - Consistent with governing docs, statutes, and laws - Uniform Enforcement - Reasonable and fair - Reasonable in purpose to the community - Necessary - NOT violate constitutional rights Rule specific statement of required behavior or action which can result in a violation or penalty Architectural Guidelines rules that apply to the appearance of a ...