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Related Flashcards
Cards In This Set
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If you were looking for maintenance easements for a community, where would you most likely find those provisions?
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The Plats or CC&R's
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Board Members Must Do all the following EXCEPT: A. Follow the Business Judgment RuleB. Receive a salary for serving on the boardC. Read NRS 116, NAC 116, their governing documents and understand to the best of their ability.D. Read their community's Governing Documents
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Receive a salary for serving on the board
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After you have passed your final exam and have received your Certificate from the State of Nevada, what type of license will you normally be given?
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A provisional community manager certificate
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Which of the following would normally correctly describe a condominium in any State? A. The owner owns stock in a corporation B. The owner owns air space. C. The owner has a divided interest in the common elements. D. The owner owns his unit from the sky to the ground.
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The owner owns air space.
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How many days do you have to notify the division of any changes in your address after you receive your license regardless of the type of license you hold? NAC 116A.340
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10 days
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How many days does each member of the Executive Board have after his appointment or election to certify in writing that he has read and understands the governing documents of the Association, the provisions of NRS 116 and NAC 116 – NRS 116.31034 Section 15?
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90 Days
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National Night Out is which of the following: A. A waste of time as this is a national organization with their own agenda. B. Is not an activity that should be considered by the Board since it does not affect their individual corporation in Nevada. C. It is a new concept that has not been proven to help with safety issues or building communities. D. It is a good time to help your common-interest communities “Build a Sense of Community and promote safety.”
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It is a good time to help your common-interest communities “Build a Sense of Community and promote safety.”
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In which document would you normally find lender provisions? A. The Public Offering Statement B. The Rules and Regulations C. The Articles of Incorporation D. The CC&R’s
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The CC&R's
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What would you normally find in the Articles of Incorporation? A. The use restrictions B. The number of Officers required in the Corporation C. The purpose of the Corporation. D. The number of Board Members required.
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The purpose of the Corporation
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Which of the following is the most accurate statement? A. Talking among themselves in Executive Session is the best way for a Board to stay in Safe Harbor as owners won’t know what is discussed or why the decision was made. B. Relying on the manager for legal advice will keep the board in “Safe Harbor”. C. The members of the Board will fall into “Safe Harbor” if they rely on qualified individuals to give advice and who are qualified in each specific area as required by law. D. Relying on a CPA to do the reserve study who is not “registered” will keep the Board in Safe Harbor since there are no other qualifications necessary other than shifting the authority and liability to someone else.
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C. The members of the Board will fall into “Safe Harbor” if they rely on qualified individuals to give advice and who are qualified in each specific area as required by law.
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If a common interest community is not defined as a condominium or a cooperative, which of the below could be considered as another type of Common Interest Community?
A. A Converted Building B. An Apartment C. A Planned Community D. A Commercial building |
C. A Planned Community
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How would you define a limited common element?
A. A component that is owned by the CIC, but one or more owners have access to or use of, but fewer than all of the owners. B. A component that has a limited life in the CIC C. A common element that can only be seen from the street. D. A common element that has minimal hours that it can be used by owners. |
A. A component that is owned by the CIC, but one or more owners have access to or use of, but fewer than all of the owners.
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If you live in a condominium, what type of interest do you have in the common elements and common expenses?
A. The owner owns his unit and no interest in the common areas. B. The association owns everything and the owners own the air space in their units. C. The owner owns his unit (Air space and any other area shown in the CC&R’s) and has an undivided interest in the common areas. D. The owner only owns what the Public Offering Statement stated you the cost for the common expenses will be in the Bylaws. |
C. The owner owns his unit (Air space and any other area shown in the CC&R’s) and has an undivided interest in the common areas.
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What is the purpose for an HOA to have landscaping?
A. To enhance the value of the property. B. To satisfy provisions placed on the developer by the public entity. C. To have pleasing areas that break up the housing units themselves. D. All of the above. |
D. All of the above
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Welcome Letters are good forms of which type of communication?
A. Verbal B. Written C. Physical D. Combative |
B. Written
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