QUIZ: ARE YOU A LOUSY BOARD MEMBER?

A) Tell her to work it out with the neighbor herself.

B) Hand it off to the managing agent.

C) Arrange a friendly meeting with the neighbor, where you'll bring bring nicotine gum and quit-smoking pamphlets.

D) Go with the super to the complaining shareholder's apartment to investigate.

 

 

QUESTION 2: Your co-op board has approved instituting a flip tax, and you've volunteered to sell shareholders on the idea. You...

A) Send out an explanatory letter with proxies before the annual meeting, and instruct shareholders to vote and mail in the proxies.

B) Call every shareholder on the phone to urge passage.

C) Send newsletters, hold informational meetings with refreshments or other enticements, and talk it up informally with shareholders as you see them.

D) Realize it's too important for dilly-dallying, and so you inform shareholders that it's necessary, there's no question about it, and the co-op will collapse economically if this doesn't pass.

 

QUESTION 3: You have a modest capital-improvement project, and you need to hire a contractor. You...

A) Talk to other boards and to shareholders and hire someone based on word-of-mouth recommendation.

B) Hire the same company you used last time.

C) Do extensive research yourself, call up companies to get a feel for them, write up highly detailed notes, and present your architect/engineer with a color-tabbed binder of all your findings.

D) Have your architect/engineer write up specifications for your managing agent to send out to bid.

 

QUESTION 4: Some parents suggest the building have a Halloween party in the community room for the kids. The parents will supply refreshments and games. Worried about liability, you urge the board to...

A) Have the co-op/condo attorney draft an indemnification letter for each parent to sign, holding the building non-liable for any accident or incident, and refuse to let children attend whose parents haven't signed.

B) Have the parents submit a complete list of all food and drink that will present, and a list of what games will be played and who will be attending.

C) Allow it, with the specification that refreshments will be allowed but no games, and that children cannot invited friends from outside the building.

D) Do none of the above.

 

QUESTION 5: None of the board members are finance professionals or accountants, and so you let your managing agent handle the building's bank accounts and pay all the bills. He gives you a monthly report that lists everything, and everything always looks normal. What other things should you do?

A) Nothing. Your agent's a professional, his company is bonded, your bank is FDIC-insured — you're covered if anything happens.

B) Specify that checks over a certain amount require two signatures.

C) Have your treasurer and the board's accountant together reconcile over the monthly report.

D) Make sure you get original receipts, not photocopies.

E) All of the above

F) B and C above

 

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