CAM EXAM QUESTIONS AND ANSWERS
The Delton Beach Condo, with 400 units, has a budget of 2.5 million. It also has $3M
reserves.
a. The ass must maintain a Fidelity Bond of $5.5M.
b. The ass must hire a CAM.
c. The ass must have an annual audit.
d. The ass must have at least 5 directors on the board. - Answer- c. The ass must have
an annual audit.
Condos with revenues of $500K or ore must have an annual audit, unless waived by a
majority of members in a duly called meeting. Members may not waive more than 3
consecutive years. The ass is not required by law to hire a CAM, it can self manage.
Cameron Willing, a new CAM, was just hired by Minnetonka Mobile Home Park. The
owner Jasper Jones, has assigned Cameron to put the requirements of F.S. 723 and
the association docs in Layman's language for distribution for new lessees.
a. Cameron can put in layman's terms the association documents, but not FS 723
b. Cameron can put both the asso's terms and FS 723
c. Cameron can put both the in layman's terms subject to approval from the Division.
d. Cameron may not carry out this assignment. - Answer- d. Cameron may not carry out
this assignment.
CAMs are prohibited from providing an interpretation of the law and/or of the association
documents to oter persons or entities.
Junie Husting has failed to pay her monthly assessment for the last 3 months and the
wonderlake condominium placed a lien on her unit. which DOES NOT apply.
a. Wonderlake may deny Junie her rights to vote.
b. Junie cannot use the swimming pool until she pays.
c. Wonderlake may prohibit Junie from using her parking space.
d. Wonderlake may move to foreclose on Junie's unit after 30 days. - Answer- c.
Wonderlake may prohibit Junie from using her parking space.
Condo Ass board has the right to deny access to common areas If delinquent for over
90 days, witht he exception to access unit or parking space.
The Land-O-Lake HOA had revenues of $503K in its fiscal year.
a. The ass must complete an audit within 30 days of the end of its fiscal year.
b. The board may vote to have a "cash receipts and expenditures report" only.
c. The ass members may choose to have a compilation.
d. The ass must provide a copy of the budget to prospective buyers. - Answer- c. The
ass members may choose to have a compilation.
,If approved by the majority of the TVI at a duly noted meeting, an ass may prepare a
compilation instead of an audit. Without the approval of the TVI the ass would have to
prepare an audit since revenues exceed $500K. The year end fiscal report must be
completed within 90 of the end of its fiscal year.
Condos, Co-ops, HOAs are required to give a minimum of 14 dayys notice...
a. To hold a Fines Committee meeting.
b. Prior to making a material alteration on common elements
c. To hold a regular meeting when there is no conspicuous place to post notice.
d. To amend rules and regulations affecting parking. - Answer- a. To hold a Fines
Committee meeting.
Before a fine or suspension can be confirmed at a Fines Committee meeting an ass
must provide a 14-days written notice to members. Also must POST NOTICE.
La Tortuga Condo has proposed and amendment to its Declaration. The board has
decided to take the votes electronically...
a. Condo must carry out this vote using Survey Monkey.
b. Condo may only use E-Vote if 100% of its members submit in this manner and the
system is authenticated.
c. Condo must provide each member with a method to confirm, at least 14 days before
the voting deadline that the member's E-Device can successfully communicate with the
system.
d. Condo may use E-Vote if that method confirms, at least 30 days before, that
communicates ok - Answer- c. Condo must provide each member with a method to
confirm, at least 14 days before the voting deadline that the member's E-Device can
successfully communicate with the system.
The new law allows E-Votes as long as all members are provided with a method to
confirm their device can communicate with the On-Line Voting System
Condo Contracted with Coastal Construction to replace the expansion joints in the
garage. Coastal has failed to complete the job on time and it hs not paid its
subcontractors.
a. The ass must pay the subcontractors using Coastal's performance bond.
b. The ass has no obligation to pay subcontractors for work done.
c. The ass should file a construction lien against Coastal.
d. The ass should use the labor & materials bond to pay the subcontractors. - Answer-
d. The ass should use the labor & materials bond to pay the subcontractors.
The ass is responsible for ensuring Coastal pays. If Coastal provided a Labor &
Materials bond, it may be used to pay subcontractors. COASTAL has the right to place
a construction lien against the building if is has not been paid in conformance.
The Land-O-Lakes Condo had revenue of $503K in its fiscal year.
, a. The ass must complete an audit within 90 days of its fiscal year end.
b. The board may vote to have a "cash receipts & expenditures report" only.
c. The ass board may choose to have a compilation.
d. The ass must provide a copy of the budget to prospects. - Answer- a. The ass must
complete an audit within 90 days of its fiscal year end
Condos, Co-Ops and HOAs with revenues in excess of $500K must complete an audit
within 90 days of the end of its fiscal year. unless majority of TVI voted for a less
comprehensive report
Member Johanna brings a video camera to the Longshores HOA Fines Meeting,
a. Johanna can only videotape if all members agree.
b. Johanna can only videotape if the board has passed a reasonable rule regarding the
taping of meetings.
c. F.S. only permits videotaping of board meeting
d. The Ass. may require Johanna to notify in advance that she will videotape the
meeting. - Answer- d. The Ass. may require Johanna to notify in advance that she will
videotape the meeting.
Any member of a Condo. HOA or CoOp has the right to record any Board, Members, or
Committee of the Ass. Subjected to reasonable restrictions in writing.
The DFCTSMH is funded by:
a. $4 per unit fee paid annually by the HOAs.
b. $20 per unit fee paid by Timeshares developers.
c. $7 per unit fee paid by Condos.
d. $2 per unit, per week, for each week sold, paid by Timeshares annually. - Answer- d.
$2 per unit, per week, for each week sold, paid by Timeshares annually.
Timeshares must pay to DFCTSMH an annual fee of $2 for each seven days of annual
use to a max of $25,000. Multi-Site Timeshare plans have no maximum.
Daimondhead Condo, and Ass.of 500 units, wishes to add a "tot-lot" for the many fams,
using excess funds from a completed special assessment. Pursuant to the Condo Act.
a. The Ass can do so with the approval of 251 owners.
b. 75% of the TVI can approve the use of special assessments funds for this.
c. Excess special assessments funds must be return to owners.
d. 75% of unit owners attending a "unit Owners meeting can approve the use of funds
for this. - Answer- d. 75% of unit owners attending a "Unit Owners Meeting" can
approve the use of funds for this.
Material alterations to the common elements must be approved as described in the
Declaration of Condominium. Or if the decalration is silent, by the approval of no less
The Delton Beach Condo, with 400 units, has a budget of 2.5 million. It also has $3M
reserves.
a. The ass must maintain a Fidelity Bond of $5.5M.
b. The ass must hire a CAM.
c. The ass must have an annual audit.
d. The ass must have at least 5 directors on the board. - Answer- c. The ass must have
an annual audit.
Condos with revenues of $500K or ore must have an annual audit, unless waived by a
majority of members in a duly called meeting. Members may not waive more than 3
consecutive years. The ass is not required by law to hire a CAM, it can self manage.
Cameron Willing, a new CAM, was just hired by Minnetonka Mobile Home Park. The
owner Jasper Jones, has assigned Cameron to put the requirements of F.S. 723 and
the association docs in Layman's language for distribution for new lessees.
a. Cameron can put in layman's terms the association documents, but not FS 723
b. Cameron can put both the asso's terms and FS 723
c. Cameron can put both the in layman's terms subject to approval from the Division.
d. Cameron may not carry out this assignment. - Answer- d. Cameron may not carry out
this assignment.
CAMs are prohibited from providing an interpretation of the law and/or of the association
documents to oter persons or entities.
Junie Husting has failed to pay her monthly assessment for the last 3 months and the
wonderlake condominium placed a lien on her unit. which DOES NOT apply.
a. Wonderlake may deny Junie her rights to vote.
b. Junie cannot use the swimming pool until she pays.
c. Wonderlake may prohibit Junie from using her parking space.
d. Wonderlake may move to foreclose on Junie's unit after 30 days. - Answer- c.
Wonderlake may prohibit Junie from using her parking space.
Condo Ass board has the right to deny access to common areas If delinquent for over
90 days, witht he exception to access unit or parking space.
The Land-O-Lake HOA had revenues of $503K in its fiscal year.
a. The ass must complete an audit within 30 days of the end of its fiscal year.
b. The board may vote to have a "cash receipts and expenditures report" only.
c. The ass members may choose to have a compilation.
d. The ass must provide a copy of the budget to prospective buyers. - Answer- c. The
ass members may choose to have a compilation.
,If approved by the majority of the TVI at a duly noted meeting, an ass may prepare a
compilation instead of an audit. Without the approval of the TVI the ass would have to
prepare an audit since revenues exceed $500K. The year end fiscal report must be
completed within 90 of the end of its fiscal year.
Condos, Co-ops, HOAs are required to give a minimum of 14 dayys notice...
a. To hold a Fines Committee meeting.
b. Prior to making a material alteration on common elements
c. To hold a regular meeting when there is no conspicuous place to post notice.
d. To amend rules and regulations affecting parking. - Answer- a. To hold a Fines
Committee meeting.
Before a fine or suspension can be confirmed at a Fines Committee meeting an ass
must provide a 14-days written notice to members. Also must POST NOTICE.
La Tortuga Condo has proposed and amendment to its Declaration. The board has
decided to take the votes electronically...
a. Condo must carry out this vote using Survey Monkey.
b. Condo may only use E-Vote if 100% of its members submit in this manner and the
system is authenticated.
c. Condo must provide each member with a method to confirm, at least 14 days before
the voting deadline that the member's E-Device can successfully communicate with the
system.
d. Condo may use E-Vote if that method confirms, at least 30 days before, that
communicates ok - Answer- c. Condo must provide each member with a method to
confirm, at least 14 days before the voting deadline that the member's E-Device can
successfully communicate with the system.
The new law allows E-Votes as long as all members are provided with a method to
confirm their device can communicate with the On-Line Voting System
Condo Contracted with Coastal Construction to replace the expansion joints in the
garage. Coastal has failed to complete the job on time and it hs not paid its
subcontractors.
a. The ass must pay the subcontractors using Coastal's performance bond.
b. The ass has no obligation to pay subcontractors for work done.
c. The ass should file a construction lien against Coastal.
d. The ass should use the labor & materials bond to pay the subcontractors. - Answer-
d. The ass should use the labor & materials bond to pay the subcontractors.
The ass is responsible for ensuring Coastal pays. If Coastal provided a Labor &
Materials bond, it may be used to pay subcontractors. COASTAL has the right to place
a construction lien against the building if is has not been paid in conformance.
The Land-O-Lakes Condo had revenue of $503K in its fiscal year.
, a. The ass must complete an audit within 90 days of its fiscal year end.
b. The board may vote to have a "cash receipts & expenditures report" only.
c. The ass board may choose to have a compilation.
d. The ass must provide a copy of the budget to prospects. - Answer- a. The ass must
complete an audit within 90 days of its fiscal year end
Condos, Co-Ops and HOAs with revenues in excess of $500K must complete an audit
within 90 days of the end of its fiscal year. unless majority of TVI voted for a less
comprehensive report
Member Johanna brings a video camera to the Longshores HOA Fines Meeting,
a. Johanna can only videotape if all members agree.
b. Johanna can only videotape if the board has passed a reasonable rule regarding the
taping of meetings.
c. F.S. only permits videotaping of board meeting
d. The Ass. may require Johanna to notify in advance that she will videotape the
meeting. - Answer- d. The Ass. may require Johanna to notify in advance that she will
videotape the meeting.
Any member of a Condo. HOA or CoOp has the right to record any Board, Members, or
Committee of the Ass. Subjected to reasonable restrictions in writing.
The DFCTSMH is funded by:
a. $4 per unit fee paid annually by the HOAs.
b. $20 per unit fee paid by Timeshares developers.
c. $7 per unit fee paid by Condos.
d. $2 per unit, per week, for each week sold, paid by Timeshares annually. - Answer- d.
$2 per unit, per week, for each week sold, paid by Timeshares annually.
Timeshares must pay to DFCTSMH an annual fee of $2 for each seven days of annual
use to a max of $25,000. Multi-Site Timeshare plans have no maximum.
Daimondhead Condo, and Ass.of 500 units, wishes to add a "tot-lot" for the many fams,
using excess funds from a completed special assessment. Pursuant to the Condo Act.
a. The Ass can do so with the approval of 251 owners.
b. 75% of the TVI can approve the use of special assessments funds for this.
c. Excess special assessments funds must be return to owners.
d. 75% of unit owners attending a "unit Owners meeting can approve the use of funds
for this. - Answer- d. 75% of unit owners attending a "Unit Owners Meeting" can
approve the use of funds for this.
Material alterations to the common elements must be approved as described in the
Declaration of Condominium. Or if the decalration is silent, by the approval of no less
