Download New GOVT 406 Quiz Real Estate

Download New GOVT 406 Quiz Real Estate


GOVT 406 Quiz: Real Estate Communities 

  1. A time-sharing interest can only be a lease.
  2. Turn-offs of services must be authorized in the bylaws to be a means of enforcement of assessments.
  3. A vacation license is the same as a time-share interest.
  4. Co-ops, townhomes, and condominiums are all incorporated non-profit associations.
  5. Architectural Control Committees cannot enforce rules on aesthetics only.
  6. A co-op need not be incorporated.
  7. State laws governing homeowner associations have increased in the past few years.
  8. Hybrids still require associations and CC&Rs.
  9. Condominium associations can file liens for non-payment of monthly association fees.
  10. Condo and co-op boards are subject to the standards of the business judgment rule.
  11. Which of the following powers do homeowners’ associations always have?
  12. Transfer restrictions on co-op interests:
  13. How does the business judgment rule apply to HOA boards?
  14. Stacy Harris owned a condominium in the 4215 Harding Road Condominiums. Her fellow condo owners complained about grossly unsanitary conditions in Harris’s unit and resulting in extremely offensive odors that emanated from her unit into common areas. Despite warnings and fines, Ms. Harris did not clean up her apartment. The association brought suit to have the condo unit sold and asked for $116,037.77 in fees and attorney’s fees. Which of the following is correct?
  15. Janice Greyson was visiting the condo development, Rushing Springs, to see her nephew. As she walked across the grassy area in between major buildings of the development, she tripped and fell into a sinkhole in the grass. She suffered a broken ankle. Who is liable for her injury?
  16. Flowing Stream Townhouse Development’s homeowners’ association has adopted a rule that no owner can sell or lease his or her unit to a Tier 3 registered sex offender. Alice Strom is a Flowing Stream owner who has sold her townhome to a registered Tier 3 sex offender. The homeowners’ association board has refused to allow the buyer to move into his townhome and has obtained a court injunction prohibiting his taking occupancy. Which of the following factors will the court consider in determining the validity of the rule?
  17. Which of the following would be a valid basis for a homeowner’s challenge to enforcement action by the homeowners’ association?
  18. ohn is a member of the board for his condominium development. John has missed 8 of the last 12 board meetings. The other board members have missed at least 50% of the meetings. The board did not hire an accountant to review the financial reports of the condo manager. Eighteen months after John took his position on the board, an accountant was retained to examine the books of the condo development. The accountant discovered that the manager had embezzled $250,000. Which of the following statements is correct?
  19. No pet rules in associations are:
  20. A proprietary lease:

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