Condominium Act Quiz: Key Concepts and Governance Explained

Question 1 The Condominium Act supersedes all condominium legislation except? 1) The Condominium Declaration 2) Human Rights Act 3) The United Nations Accord for Fair Housing 4) The Building Code Question 2 What information is found in Schedule C of the declaration? 1) Percentage of Common Interests 2) By-Law #1 3) Boundary of Units 4) Number of Directors Question 3 List the four types of Freehold Condominiums? 1) High Rise, Low Rise, Common Element, Townhouse 2) Common Element, 1 bedroom, 2 bedroom and 3, bedroom 3) Common Element, Phased, Standard, Vacant Land 4) Leasehold, Common Element, Phased, Vacant Land Question 4 Where would you look to find how many directors comprise the Board of Directors? 1) The Declaration 2) The Condominium Act 3) The Human Right Act 4) The By-Laws Question 5 Which of the following documents is not required to be turned over at the turnover meeting? 1) Declaration 2) Insurance Policies

3) Warranties and Guarantees 4) Management Contract Question 6 CAO and CMRAO are both examples of: 1) government ministries 2) tribunals 3) administrative authorities 4) professional associations Question 7 Which of the following is NOT found in the disclosure package? 1) 1st year Budget 2) Reserve Fund Study 3) Declaration 4) Rules Question 8 What is the minimum required number of directors for any condominium corporation under the Condominium Act, 1998? 1) 5 2) 1 3) 2 4) 3 Question 9 Outline the hierarchy of governance for Condominiums in Ontario? 1) Human rights, Act, Declaration, By-laws, Rules, Policies 2) Human rights, Municipal by-laws, Declaration, By-laws, Policies 3) Constitution, Act, Declaration, By-laws, Rules, Policies 4) Condominium Act, By-Laws, Declaration, Rules, Management Agreement

Question 10 What three amounts are added together to total the interim occupancy payments? 1) Taxes, mortgage payments, special assessments 2) common element fees, deposit, taxes 3) closing costs, common element fees and interest on the unpaid balance of the purchase price 4) Taxes, common element fees and interest on the unpaid balance of the purchase price Question 1 Board discussions and decisions should be properly recorded in the? 1 / 1 point 1) Files 2) Newsletters 3) Minutes 4) Periodic Information Certificates Question 2 On the second attempt to call an Annual General Meeting the required quorum is? 1 / 1 point 1) 25% 2) 15% 3) 33% 4) The majority of owners Question 3 The Notice of Meeting does not have to include? 1 / 1 point 1) The approved audit 2) The insurance certificate 3) The minutes of the last meeting 4) Any information that owners are being asked to vote on Question 4 Which of the following are candidates NOT required to disclose prior to standing for election? 1 / 1 point

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

1) If they are in arrears of more than 60 days 2) If they are involved in a lawsuit with the corporation 3) If they live in a unit in the condominium 4) If they have completed the director's education Question 5 1 / 1 point The Notice period required for a Board meeting to be called is? 1) 3 days 2) 10 days unless a by-law has been passed 3) 7 days as required by the Condominium Act 4) The date must be set at the end of the previous meeting Question 6 The Preliminary Notice of Meeting of Owners is required to be sent? 1 / 1 point 1) 15 days before the AGM date 2) With the audit 3) At least 35 days before the AGM date 4) By registered mail Question 7 If a condominium does not achieve quorum at the AGM, the Board? 1 / 1 point 1) must notify the CAO that the meeting was not held 2) must call the meeting again until a quorum is reached

3) may reschedule the AGM 4) can cancel the meeting until next years AGM Question 8 0 / 1 point Which of the following automatically requires the Corporation to set aside a RESERVED POSITION? 0 / 1 point 1) If over 50% of the units are leased 2) If 100% of the units are owner occupied 3) If all of the board members are non-resident owners 4) If the declarant remains on the Board Question 9 As of 2017 all Directors must complete the mandatory directors education within? 1 / 1 point 1) 6 months 2) 30 days 3) 60 days 4) 7 years Question 10 1 / 1 point The Condominium Act requires that each Condominium Board appoint which two officers positions? 1) President and Treasurer 2) President and Vice President 3) President and Secretary 4) Property Manager and Auditor

Question 1 The Code of Ethics is broken into two sections titled? 1) General Obligations and Protecting Client Interests 2) Financial Obligations and Condominium Act Governance 3) Management Company Obligations and Condominium Client Obligations 4) Complaints procedure and Discipline Procedure Ques tion 2 1 / 1 poin t In Ontario the OHSA (Occupational Health and Safety Act) is the piece of legislation that: 1) Sets the requirements for workplace safety and the duties of employers, supervisors and workers 2) Is responsible for the creation of the WSIB (Workplace Safety Insurance Board) 3) Governs the Ministry of Labour 4) Sets the policies for Condominiums is relation to contractor safety Ques tion 3 1 / 1 poin t The three mandatory record retention periods set out in the condominium act are? 1) 90 days, 7 years and 15 years 2) 90 days, 2 years and 7 years 3) 90 days, 7 years and forever 4) 2 years, 7 years and forever Ques tion 4 1 / 1 poin t

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Which the following is not one of the three basic rights of workers? 1) The right to know about hazards in the workplace 2) the right to participate in Occupational Health & Safety decision-making 3) the right to refuse work they believe is dangerous 4) the right to require employers to change their policies related to safety Ques tion 5 1 / 1 poin t Which of the following is an example of a record that can be destroyed after 7 years? 1) Turnover Documents 2) Meeting Minutes 3) Reserve Fund Studies 4) Employee Records Ques tion 6 1 / 1 poin t The Code of Ethics set out in the Condominium Management Services Act is enforced by? 1) ACMO 2) CAO 3) CMRAO 4) RCMP Ques tion 7 1 / 1 poin

t Which of the following is not a type of condominium management licence in Ontario? 1) General License 2) Limited License 3) Administrators License 4) Transitional License Ques tion 8 1 / 1 poin t Which of the following is an example of someone who does not need a condominium management license? 1) a condominium manager managing 3 or fewer condominiums 2) a condominium property administrator whose spending limit is only $500 3) The president of the Board of Directors of a self managed condominium 4) The Principal Condominium Manager of a condominium management company Ques tion 9 1 / 1 poin t WHMIS 2015 requires all employers to? 1) Educate and train workers on the hazards and safe use of products 2) Appoint a minimum of 3 people to a safety committee 3) Inspect the site for dangers and report to management immediately 4) Create material safety data sheets for all dangerous chemicals Question 10 1 / 1 poin t

A supervising licensee must be a _______? 1) General Licensee 2) Regional or district manager 3) RCM 4) Principal condominium manager Question 1 The standard unit bylaw is an important document in a condominium's insurance coverage because it _______? 1) dictates the amount of coverage that unit owners are entitled to receive 2) defines the finishes that the corporation's insurance is responsible for inside the unit 3) outlines the limits of the corporation's liability policy 4) defines the amount of the deductible that individual unit owners are responsible to pay Question 2 1 / 1 poin t Which of the following is not a type of insurance that condominium corporations are required to maintain under the condominium act? 1) Liability 2) Property 3) Boiler and Machinery

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

4) Assessment insurance Question 3 0 / 1 poin t The following are critical aspects of communication if you hope to reach the desired outcome: 1) Tone and content 2) Reason and aim 3) Strategy and misdirection 4) Clarity and language Question 4 1 / 1 poin t which of the following is not an example of an information certificate listed in the condominium act? 1) Periodic information certificate 2) information certificate update 3) new owner information certificate 4) Director change Certificate Question 5 1 / 1 poin t A current appraisal helps the condominium Corporation determine? 1) market real-estate value 2) the value of the corporation's land 3) the replacement values

4) the best available insurance premiums Question 6 1 / 1 poin t Standard CCDC contracts allow for a holdback of? 1) 15% 2) 45 days from the date of invoice 3) 10% 4) An amount equal to HST Question 7 1 / 1 poin t Three types of contracts common in Condominium management are? 1) Verbal, Purchase Orders and Specifications 2) Formal, Tendered and Informal 3) Verbal, Puchase Orders and Formal 4) Purchase Orders, CCDC2 and CCDC4 Question 8 0 / 1 poin t which of the following is not required to be provided as an attachment to a status certificate? 1) Current Budget 2) Notice of future funding of the Reserve Fund 3) Performance Audit

4) Most recent Audit Question 9 1 / 1 poin t CCDC stands for? 1) Canadian Construction Documents Committee 2) Condominium Construction Document Corporation 3) Canadian Condominium Document Committee 4) Corporate Construction Documents Council Question 10 1 / 1 poin t annual information returns must be filed yearly with the_____? 1) CAO 2) CMRAO 3) Owners 4) Corporation Solicitor

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Summary of quizes

Related Documents