CAM LICENSE QUESTIONS AND ANSWERS
The documents of ABC condominium Association do not require reserves the proposed
budget - Answer- Must at a minimum include statutory reserves
All of the following categories of expenditures and required to be included in a
condominium budget Except - Answer- Professional fees
Verdona oaks community is compromised of two low raises each with an association
two towers with one association and 10 villas and one association. How many total
associations are located in Verdona Oaks - Answer- 5
The Board of Directors of Nother world cooperative has scheduled a meeting to approve
next year's budget. The members must receive notice how far in advance of the
meeting - Answer- 14 days
Universal condominium association has an annual budget of 175,000 plus 25,000for
reserves. The board is considering an expenditure of 7800 for roof repairs based on a
bid from do right roofing. Is the board required to obtain other bids before awarding the
contract - Answer- No because the expenditure is less than 5% of 200,000
New is a condominium owner who has leased his unit from January 1 through March 31
under what condition does Nell have the right to use fitness center while the property is
rented - Answer- Nels may use the facilities as a guest
At the regular board meeting of a homeowners association, owner Zumwalt ask to
speak about an agenda item. The president of the board refused to recognize the
owner. Which of the following is true of the presidents action - Answer- It was
acceptable because an HOA board is not required to allow a member to speak under
this circumstance
Officers of a community association are usually - Answer- Elected by the board of
directors
Condominiums not operating as public lodging are exempt from the statutory pool
supervision requirements if the pool serves - Answer- 32 units or less
Community Association charges a late fee for delinquent assessments paid after the
10th of the month. What is the maximum late fee that can be charged? - Answer- $25 or
5% of the past due amount, which ever is greater
Owner J has violated the condominium bylaws. The association has the power to seek
enforcement - Answer- By action through the Florida circuit court
The developer-controlled HOA board did NOT establish reserve accounts. After
transition, the newly elected board has recognized the need for reserves funds for long-
, term maintenance and replacement of roadways, parking areas and swimming pools.
Which of the following is CORRECT? - Answer- In order to create reserves accounts, a
majority of the entire membership must approve specific reserves components and they
must be included in next year's budget
A board member disagrees with a vote of the board to change a rule. After the final
vote, the member makes a motion to modify the rule. Which of the following is TRUE? -
Answer- The motion is out of order and may be dismissed
Which of the following may the board use to fulfill its obligation to prove delivery of
notice for an association membership meeting - Answer- An officer may sign an affidavit
attesting to the delivery process
A condominium association has receipts of $245,000 per year. Unless waived, the
board must make which type of financial statements available? - Answer- Compiled
Approval of a material alteration to or substantial addition to common elements requires:
- Answer- Approval by 75% of the membership
Which of the following is NOT a reserved item: - Answer- Insurance premiums: $12,000
The membership has petitioned the board to reconsider the budget adopted on April 1.
The bard MUST hold a special meeting of the membership no later than: - Answer- May
30
Condominium owner Mary returned from vacation and found that a pinhole leak in the
sink has damaged the carpeting and appliances in her unit. Which of the following is
TRUE of the cost of repairs? - Answer- Mary or her insurance company will pay for the
damages
A gourmet restaurant is opening in the common elements on the top floor of a
condominium. Installation of ramps, handrails, and accessible restrooms are the
responsibility of: - Answer- The association
A non-compensated board member may accept a kickback from: - Answer- Trade fair or
educational event
A non-compensated board member who receives a kickback from someone providing
services to the association may be penalized by: - Answer- A civil penalty
Which of the following is NOT TRUE of each director's and officer's fiduciary
relationship to the members of the association? - Answer- A direct has statutory but NO
fiduciary obligations to the association
The sale and management of timeshare is regulated under Florida Statues: - Answer-
721
The documents of ABC condominium Association do not require reserves the proposed
budget - Answer- Must at a minimum include statutory reserves
All of the following categories of expenditures and required to be included in a
condominium budget Except - Answer- Professional fees
Verdona oaks community is compromised of two low raises each with an association
two towers with one association and 10 villas and one association. How many total
associations are located in Verdona Oaks - Answer- 5
The Board of Directors of Nother world cooperative has scheduled a meeting to approve
next year's budget. The members must receive notice how far in advance of the
meeting - Answer- 14 days
Universal condominium association has an annual budget of 175,000 plus 25,000for
reserves. The board is considering an expenditure of 7800 for roof repairs based on a
bid from do right roofing. Is the board required to obtain other bids before awarding the
contract - Answer- No because the expenditure is less than 5% of 200,000
New is a condominium owner who has leased his unit from January 1 through March 31
under what condition does Nell have the right to use fitness center while the property is
rented - Answer- Nels may use the facilities as a guest
At the regular board meeting of a homeowners association, owner Zumwalt ask to
speak about an agenda item. The president of the board refused to recognize the
owner. Which of the following is true of the presidents action - Answer- It was
acceptable because an HOA board is not required to allow a member to speak under
this circumstance
Officers of a community association are usually - Answer- Elected by the board of
directors
Condominiums not operating as public lodging are exempt from the statutory pool
supervision requirements if the pool serves - Answer- 32 units or less
Community Association charges a late fee for delinquent assessments paid after the
10th of the month. What is the maximum late fee that can be charged? - Answer- $25 or
5% of the past due amount, which ever is greater
Owner J has violated the condominium bylaws. The association has the power to seek
enforcement - Answer- By action through the Florida circuit court
The developer-controlled HOA board did NOT establish reserve accounts. After
transition, the newly elected board has recognized the need for reserves funds for long-
, term maintenance and replacement of roadways, parking areas and swimming pools.
Which of the following is CORRECT? - Answer- In order to create reserves accounts, a
majority of the entire membership must approve specific reserves components and they
must be included in next year's budget
A board member disagrees with a vote of the board to change a rule. After the final
vote, the member makes a motion to modify the rule. Which of the following is TRUE? -
Answer- The motion is out of order and may be dismissed
Which of the following may the board use to fulfill its obligation to prove delivery of
notice for an association membership meeting - Answer- An officer may sign an affidavit
attesting to the delivery process
A condominium association has receipts of $245,000 per year. Unless waived, the
board must make which type of financial statements available? - Answer- Compiled
Approval of a material alteration to or substantial addition to common elements requires:
- Answer- Approval by 75% of the membership
Which of the following is NOT a reserved item: - Answer- Insurance premiums: $12,000
The membership has petitioned the board to reconsider the budget adopted on April 1.
The bard MUST hold a special meeting of the membership no later than: - Answer- May
30
Condominium owner Mary returned from vacation and found that a pinhole leak in the
sink has damaged the carpeting and appliances in her unit. Which of the following is
TRUE of the cost of repairs? - Answer- Mary or her insurance company will pay for the
damages
A gourmet restaurant is opening in the common elements on the top floor of a
condominium. Installation of ramps, handrails, and accessible restrooms are the
responsibility of: - Answer- The association
A non-compensated board member may accept a kickback from: - Answer- Trade fair or
educational event
A non-compensated board member who receives a kickback from someone providing
services to the association may be penalized by: - Answer- A civil penalty
Which of the following is NOT TRUE of each director's and officer's fiduciary
relationship to the members of the association? - Answer- A direct has statutory but NO
fiduciary obligations to the association
The sale and management of timeshare is regulated under Florida Statues: - Answer-
721
