CAI CAP2 study guide
CAI CAP2 · Work through your exam, one topic at a time.
CAP2 is a professional credential for people who manage or support the governance and operations of community associations - condominiums, cooperatives, homeowner associations and similar shared-ownership properties. It is aimed at managers, assistant managers and board-facing staff who need a working command of both the paperwork and the people side of the job. The CAI CAP2 study guide has 6 sections and about 1,959 words.
01Governance, Governing Documents, and Legal and Ethical Standards
Every governance question begins with a document check. The stack generally runs: applicable statutes and recorded covenants, the recorded declaration (CC&Rs) and plat/map, the articles of incorporation, the bylaws, board policies, then rules and regulations, and finally custom and practice.
369 words, about 2 min02Financial Management, Budgeting, and Reserve Planning
Operating funds pay recurring costs; reserve funds pay major repair and replacement of components the association owns; special assessments cover shortfalls. Commingling reserve and operating money is both a practical and a governance failure.
320 words, about 2 min03Maintenance, Risk Management, and Insurance
Distinguish routine, preventive, corrective, emergency, and deferred maintenance. The reserve study component list and the maintenance plan should align - if a component is in one, it should be in the other.
311 words, about 2 min04Community Leadership, Communication, and Owner Relations
Managers run operations; the board sets direction, policy, and priorities. Effective boards govern by policy and delegate execution, resist micromanaging staff and vendors, and build continuity through orientation, board self-evaluation, and committee structures that give volunteers meaningful work.
297 words, about 1 min05Human Resources, Staffing, and Contractor Oversight
Classification turns on control: who directs the work, sets hours, supplies tools, and can terminate. Misclassifying an employee as an independent contractor to avoid payroll taxes and workers' compensation is a costly error.
329 words, about 2 min06Meetings, Records, and Administrative Procedures
Know the difference between the annual membership meeting, regular and special board meetings, executive session, workshops, and committee meetings. Each has its own notice, agenda, and participation rules.
333 words, about 2 min