Question

Homeowner's fees on condominiums do not include funds to pay:

a. insurance covering the exterior of the building(s).
b. monthly mortgage payments of property owners.
c. maintenance of the common areas.
d. maintenance of the building(s).

Answer 1

Answer:B

Explanation: Condominiums are fees paid by homeowners for the maintenance of common areas in their communities.

It does not include payment of mortgages on the property but its like a reserve account maintained by the communities appointed offerciers to maintain all common areas such as swimming pools, play ground etc.