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FL CAM LICENSE Final Practice Exam 2 QUESTIONS AND ANSWERS ALL CORRECT

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Florida Condominium Law is contained in which Chapter of the Florida Statutes? Correct Answer: 718 Minutes of meeting of the BOD must be maintained for: Correct Answer: 7 years Emergency powers of a condominium board, if a state of emergency has been declared, include: Correct Answer: Borrow money and pledge association assets as collateral to fund emergency repairs A condominium association files a lien for unpaid assessments against one of its unit owners, the lien is effective for: Correct Answer: One year after claim of lien was recorded With respect to a condominium association, which of the following statements is true: Correct Answer: The declaration may provided that certain limited common elements shall be maintained by those entitled to use the limited common elements. Notice of the Association annual meeting must contain: Correct Answer: Purpose of the meeting, place, date and time A co-op association's reserves do not generally include an amount for: Correct Answer: Flood insurance premiums of $13,000 Condominium owners own the condominium parcel and what type of interest in the common elements? Correct Answer: Undivided A claim of lien against a condominium parcel must include: Correct Answer: The due date, the name of unit owners, the amount due What designates the person who will direct votes for the owners of a corporately owned condominium unit? Correct Answer: A voting certificate The least used entity of association management is: Correct Answer: Self-Management Condominium unit owners, other than the developer, are entitled to elect not less than a majority of the board when? Correct Answer: Three years after 50% of the units have been conveyed to the owners

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CAM license| 142 QUESTIONS| WITH COMPLETE SOLUTION

being licensed under part VIII of chapter 468 F.S. means Correct Answer: you are capable of
performing community association management (CAM) services

specified in the condominium act and reserves these for exclusive use for certain owners Correct
Answer: limited common elements

property owned by all owners in a condominium Correct Answer: the common elements

a maintenance coordinator must... Correct Answer: be licensed as a community association
manager and is not exempt

the condominium concept is made up of... Correct Answer: operation by the condominium
association

In order for a board member to be compensated... Correct Answer: they must be licensed as a
community association manager

cooperative Correct Answer: a type of joint ownership in real estate where legal title is not
vested in the individual, but the individual receives the right to occupy a unit

time-share property Correct Answer: a type of community association that permits individual
units to be owned and occupied by different people during the year

appurtenances in a condominium or cooperative include... Correct Answer: use and access to all
easements, membership in the association, a assigned percentage of ownership in the common
areas and any club membership rights

mandatory homeowners association regulated by... Correct Answer: 720 F.S.

declaration Correct Answer: a collection of documents that creates an elaborate set of covenants
and restrictions that establish basic rights and responsibilities of residents and guests

Bylaws Correct Answer: required by the condominium act to establish the procedures for
carrying out the day-to-day operations of the association

condominium documents must be... Correct Answer: recorded with the clerk of the circuit court
as required by the condominium act

part V of the condominium act Correct Answer: gives the Division of Florida Land Sales,
Condominiums, and Mobiles Homes the power to enforce and ensure compliance with the law

when a rental property is converted into a condominium... Correct Answer: each tenant has the
right to extend the existing rental agreement

, amendments to the declaration become effective when... Correct Answer: recorded with the
clerk of the circuit court

rules promulgated by the Florida Land Sales, Condominiums, and mobiles home are
incorporated into the... Correct Answer: administrative code (FAC)

Fair Housing Act Correct Answer: authority to make in unlawful to discriminate based on race,
color, national origin, sex, handicap, religion or familial status

exempt from prohibitions against discrimination based on familial status... Correct Answer: a
community will all residents age 62 or over

employers that are required to comply with the provisions of the Americans with Disabilities act
Correct Answer: a business with 15 employees

a contractor has replaced a roof on one of four buildings in a condominium and has not been
paid... Correct Answer: he may file a construction lien against all of the unit owners in the
association in proportion to the amount of their ownership interests

the easements and common elements of a condominium or cooperative are defined in the Correct
Answer: declaration

the articles of incorporation of a community association... Correct Answer: define the
membership and voting rights of its members

rules and regulations Correct Answer: the informal or supplemental day-to-day guidelines
governing the proper conduct of condominium residents

articles of incorporation Correct Answer: establishes the basic structure and areas of
responsibility of a condominium association

rules and regulations passed by the board... Correct Answer: must be reasonable, non-
discriminatory, and within the scope of their authority

modifications in which the manner in which assessments are calculated... Correct Answer: must
be approved by all owners and lien holders in written joinder

a mandatory homeowners association for a cooperative.. Correct Answer: is created by the
developer

in order for changes in the articles of incorporation to become effective... Correct Answer: they
must be file/recorded with the 1) clerk of the court 2) department of state

part IV of the condominium act... Correct Answer: states that the rent escalation clauses based
on the C.P.I are unconscionable and unenforceable

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