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A Fund Set Aside for Replacement of Common Property in a Condominium

Question 3

Multiple Choice

A fund set aside for replacement of common property in a condominium, PUD, or cooperative project, particularly that which has a short life expectancy, such as carpet or furniture is called:


A) a capital improvements fund
B) a replacement reserve fund
C) a savings fund
D) a contingency fund

Correct Answer:

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