Finance > EXAM > CMCA PRACTICE EXAM QUESTIONS (All)

CMCA PRACTICE EXAM QUESTIONS

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CMCA PRACTICE EXAM QUESTIONS Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D... . Verifying contractor insurance. Ans- B Legal review prior to executing a contract will assist the association in the event that: A. A subcontractor is used. B. A performance bond is required. C. There is a budgetary shortfall. D. The board has questions or concerns. Ans- D Rather than describing the scope of work in detail in the contract, a manager may: A. Attach the bid specifications. B. Call each contractor to describe the job. C. Be on-site to oversee project content. D. Suggest the board meet the contractor to talk about the scope of work. Ans- A In older condominiums, an association should have what type of contract covering mechanical equipment? A. Time and materials B. Specific repair C.Service D. Preventative maintenance Ans- D For which project would a board most likely want to use a consultant to help develop bid specifications? A.Landscape renovation project B. Repairing and/or replacing roofs C. Painting the interior of lobbies and hallways D. Repairing HVAC and boilers Ans- B In what type of contract would a waiver of lien be recommended? A. Repair of the HVAC system B.Re-roofing the buildings C. Repair of the pool pump D. Annual tree pruning Ans- B In terms of compensation , a contract should state: A. Who provides insurance coverage B. Each employees rate to perform work C. When and on what terms payment(s) will be made D. Requirement for a payment bond Ans- C Alternative dispute resolution includes which of the following methods? A. Mediation B. Subrogation C.Litigation D.Indemnification Ans- A Employment contracts need not included: A.Legal Sources B.Interests C.Termination D.Notice Ans- B What is the best way to communicate managements expectation for an employee to complete regular and special tasks during a certain time-period? A.Job orientation B. Job duties C.Establishing performance goals D. Performance reviews Ans- C When staff members help to develop policies and procedures, they are more: A. Likely to get acknowledged for their contributions. B. Committed to their job C. Committed to implement them D. Likely to be satisfied with their job Ans- C Discipline as a part of the HR management can include: A. Counseling the employee B. Selecting using a progressive system C. Terminating an under-performing employee D. Gathering performance information from other employees Ans- A Which tool is mot effective for defining the employees duties? A. Personnel Policy B. Job Description C. Routine performance reviews D. State or local labor regulations Ans- B The purpose of a personnel manual or employee handbook is to: A. Provide the format for job evaluations B. Define individual job descriptions C. Detail the programs the company offers D. Explain he employee rights and responsibilities Ans- D What "duty" do the Board members and the manager have to the members? A. Accountability B. Loyalty C. Service D. Conduct Ans- B Which of the following would impact the operation of a newly installed entry control system? A. Communicating the access control policy to residents B. Identifying warranty procedures C. Developing a capital replacement budget line item D.Informing the associations insurance agent Ans- A Who has the ultimate responsibility for the care and maintenance of the common areas, facilities and physical property? A. The board of directors B. The association manager C. The developer until turnover D. The executive committee Ans- A In an initial letter you end to an owner who has violated one of the associations adopted rules, which of the following is included? A. The amount of fine assessed B. Steps to amend the rules C. The offer to meet to hear the owners viewpoint D. What the outcome of similar cases has been Ans- C When developing a rule, it must be consistent with: A. Fine schedules as approved by the courts B. Board recommendations and resolutions C. Guidelines established within the governing documents D. Applicable statutes and governing documents Ans- D The primary purpose of a community association is to: A. Guarantee property tax benefits B. Protect the financial health of the owners C. Provide owners protection from municipal laws D. Deal with governance and business Ans- D The Board of directors receives its authority to perform its specific duties through the: A. Community charter B. Governing Documents C. Board resolutions D. Board member job descriptions Ans- B In preparing the associations annual financial report, many governing documents specify: A. Retaining a independent tax specialist. B. Retaining an independent certified public accountant. C. The establishment of a finance committee D. The use of he management company's accountant Ans- B Which of the following is within the authority of the Board of Directors? A. Creating By-laws B. Being paid for their service C. Establishing programs D. Amending the declaration Ans- C In the hierarchy of a community associations governing documents , which of the following is the highest authority? A. Bylaws B. Articles of Incorporation C. Declaration D. Mortgage lender requirements Ans- C When a dispute is mediated, an uninvolved third party facilitates discussion and: A. Makes the final judgement fr both parties B. Presents a decision which the parties are free to reject C.Assist both parties in reaching a mutually acceptable agreement D. Decision is binding upon both parties Ans- C You have a proprietary lease in XYZ development. Which of the following best describes your interest in the property? A. A time-share interest B. A divided interest C. An undivided interest D. Stock membership Ans- D Management conducts its tasks for the day to day operation of the association in accordance with the: A. Minutes B. Contract C. Board Presidents instructions D. Resolutions Ans- B A board exercises its fiduciary responsibility by: A. Authorizing the manager to enforce rules B. Establishing internal controls C. Authorizing of a committee to adopt due process procedures D. Voting to eliminate parking rules Ans- B Which of the following has the greatest regulatory influence on the management of a community association? A. Federal statutes B. Articles of incorporation C. Specific State Statutes D. General State Statutes Ans- C Which of the following types of insurance coverage is one of limited value to a community association? A. Liability B. Assessment fee receivable C. Workers compensation D. Commercial umbrella Ans- [Show More]

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