Which of the following statements is a common misconception on the exam?

The statement that pertains to a common misconception on the exam is that the capital plan for under 10,000 population is every 3 years. In reality, municipalities with a population of under 10,000 are required to prepare their capital plans every five years. This misconception may arise from a misunderstanding of the requirements laid out for municipalities based on population size, as the planning requirements are often generalized without specific context.

The frequency of capital planning can vary based on regulatory guidelines, population size, or funding considerations. The correct understanding aligns with the regulations that dictate how capital planning should occur for different population categories and emphasizes the longer period typically expected for smaller municipalities.