Florida CAM Exam Study Guide with correct Answers
/. A Community is defined as
Real or personal property owned by two or more entities, with a "legally binding
agreement (covenant) to share responsibility and costs for maintenance and
administration of property, assets, and association, and with specific rights granted to
the members.
/.Community Associations are structured by
Formal (in writing), legal documents defining property rights, rules and restrictions.
/.Community Associations are also referred to as
Covenant
/.Conceptually Community Associations:
Maximize land use, share responsibility, and expenses.
/.What are the 5 types of Community Associations?
Condo, Cooperative, HOA, Timeshare, Mobile Home Park
/.What are the 3 specific requirements of CA in Florida
Membership is mandatory, members must have the right to vote, an assessment, if
unpaid can become a lien.
/.What factors influence the type of association that can be developed?
Zoning, CDMP
/.These documents define the regulations for use of land, member's rights, &
responsibilities, and create the entity that will manage the community.
Declaration of covenants & restrictions/declaration of condominium, Articles of
incorporation, bylaws
.
/.Developer must pay a fee at the time he files any required documents with the
DBPR.
,New Condos/Coops - $20/unit
Timeshares - $2/7 day period each unit will be occupied, but not more than $25,000
Mobile Homes - $10/lot but not less than $100
/.Developer must file the documents with certain governmental entities, and pay a
fee for each unit or lot in a community
True
/.Florida requires all community associations to be incorporated?
True
/.HOA's do not pay fees, as they are not regulated by the state.
True
True
/.The association is not required to hire a manager or management company.
Volunteer Directors and officers may manage the property without a license.
/.A lot within an HOA community which is capable of separate conveyance and
the owner of which is obligated to be a member of the association and pay
assessments that, if not paid, may result in a lein.
Parcel
/.Jointly owned and jointly used portions of a condo that are not included in the
units.
Common Elements
/.Jointly owned common elements reserved for the exclusive use and benefit of a
specific unit.
Limited Common Elements
/.Rights, interests and benefits -- including use of common areas, membership in
the association, voting rights, easement for air and view rights, and restrictive
covenants that attach to and run with ownership until the community is
terminated.
Appurtenances
,/.A common interest community in which portions of the real estate are
designated for separate ownership, the remainder of the real estate is designated
for common ownership solely by the owners of the units, annd undivided
interests in the common elements are vested in the unit owners.
Condominium
/.The document that creates a condo when recorded with the clerk of circuit court
in the county where the property is located.
Declaration of Condo
/.The transfer from developer control of community association to the
establishment of the unit owner controlled association.
Transition
/.Taking an existing, previously occupied improvement and changing the form of
ownership to a condo.
Conversion
/.The Division of the Department of Business and Professional Regulation (DBPR)
that has power to enforce and ensure compliance with the provision of Chapters
718, 719, 720, 721, 723, F.S. and rules relating to development, construction, sale,
lease, ownership, operation, and management of developer controlled residential
condo units.
Division of Florida Condo Timeshares & Mobile Homes
/.The governor-appointed attorney who acts as liaison between the division, unit
owners, board of directors, board members, community association managers,
and other affected parties.
Ombudsman
/.A form of ownership of real property in which legal title is vested in an
association and the right to occupy or use is evidenced by an ownership interest
in the association and a proprietary lease.
Cooperative
/.A Florida corporation responsible for the operation of a community or a mobile
home subdivision in which the voting membership is made up of parcel owners
and in which membership is a mandatory condition of parcel ownership, and
, dwhich is authorized to impose assessments that, if unpaid, may become a lien
on the parcel.
HOA
/.An arrangement whereby a purchaser, for consideration, receives ownership
rights in or a right to use accommodations, and facilities, if any, for a period of
time less than a full year during any given year.
Timeshare Plan
/.A community association is a residential homeowners' association in which
conditions of property ownership include all the following EXCEPT:
a) mandatory membership in the association
b) mandatory fees to the association
c) mandatory transfer by quitclaim deed
d) potential lien filed by the association
/.A primary purpose of community association management is to:
a) maintain the common property
b) sell parcels or units for the developer.
c) negotiate leases on behalf of the unity owners
d) collect property taxes and insurance
/.Planned communities and mandatory homeowners' associations are regulated
under which statute?
a) Chapt. 615 F.S.
b) Chapt. 715 F.S.
c) Chapt. 720 F.S.
d) Chapt. 728 F.S.
/.Powers of the association DO NOT include which of the following?
a) Enter into management contracts
b) Levy assessments
c) File a lien for unpaid assessments
d) Negotiate the sale of individual units
/. A Community is defined as
Real or personal property owned by two or more entities, with a "legally binding
agreement (covenant) to share responsibility and costs for maintenance and
administration of property, assets, and association, and with specific rights granted to
the members.
/.Community Associations are structured by
Formal (in writing), legal documents defining property rights, rules and restrictions.
/.Community Associations are also referred to as
Covenant
/.Conceptually Community Associations:
Maximize land use, share responsibility, and expenses.
/.What are the 5 types of Community Associations?
Condo, Cooperative, HOA, Timeshare, Mobile Home Park
/.What are the 3 specific requirements of CA in Florida
Membership is mandatory, members must have the right to vote, an assessment, if
unpaid can become a lien.
/.What factors influence the type of association that can be developed?
Zoning, CDMP
/.These documents define the regulations for use of land, member's rights, &
responsibilities, and create the entity that will manage the community.
Declaration of covenants & restrictions/declaration of condominium, Articles of
incorporation, bylaws
.
/.Developer must pay a fee at the time he files any required documents with the
DBPR.
,New Condos/Coops - $20/unit
Timeshares - $2/7 day period each unit will be occupied, but not more than $25,000
Mobile Homes - $10/lot but not less than $100
/.Developer must file the documents with certain governmental entities, and pay a
fee for each unit or lot in a community
True
/.Florida requires all community associations to be incorporated?
True
/.HOA's do not pay fees, as they are not regulated by the state.
True
True
/.The association is not required to hire a manager or management company.
Volunteer Directors and officers may manage the property without a license.
/.A lot within an HOA community which is capable of separate conveyance and
the owner of which is obligated to be a member of the association and pay
assessments that, if not paid, may result in a lein.
Parcel
/.Jointly owned and jointly used portions of a condo that are not included in the
units.
Common Elements
/.Jointly owned common elements reserved for the exclusive use and benefit of a
specific unit.
Limited Common Elements
/.Rights, interests and benefits -- including use of common areas, membership in
the association, voting rights, easement for air and view rights, and restrictive
covenants that attach to and run with ownership until the community is
terminated.
Appurtenances
,/.A common interest community in which portions of the real estate are
designated for separate ownership, the remainder of the real estate is designated
for common ownership solely by the owners of the units, annd undivided
interests in the common elements are vested in the unit owners.
Condominium
/.The document that creates a condo when recorded with the clerk of circuit court
in the county where the property is located.
Declaration of Condo
/.The transfer from developer control of community association to the
establishment of the unit owner controlled association.
Transition
/.Taking an existing, previously occupied improvement and changing the form of
ownership to a condo.
Conversion
/.The Division of the Department of Business and Professional Regulation (DBPR)
that has power to enforce and ensure compliance with the provision of Chapters
718, 719, 720, 721, 723, F.S. and rules relating to development, construction, sale,
lease, ownership, operation, and management of developer controlled residential
condo units.
Division of Florida Condo Timeshares & Mobile Homes
/.The governor-appointed attorney who acts as liaison between the division, unit
owners, board of directors, board members, community association managers,
and other affected parties.
Ombudsman
/.A form of ownership of real property in which legal title is vested in an
association and the right to occupy or use is evidenced by an ownership interest
in the association and a proprietary lease.
Cooperative
/.A Florida corporation responsible for the operation of a community or a mobile
home subdivision in which the voting membership is made up of parcel owners
and in which membership is a mandatory condition of parcel ownership, and
, dwhich is authorized to impose assessments that, if unpaid, may become a lien
on the parcel.
HOA
/.An arrangement whereby a purchaser, for consideration, receives ownership
rights in or a right to use accommodations, and facilities, if any, for a period of
time less than a full year during any given year.
Timeshare Plan
/.A community association is a residential homeowners' association in which
conditions of property ownership include all the following EXCEPT:
a) mandatory membership in the association
b) mandatory fees to the association
c) mandatory transfer by quitclaim deed
d) potential lien filed by the association
/.A primary purpose of community association management is to:
a) maintain the common property
b) sell parcels or units for the developer.
c) negotiate leases on behalf of the unity owners
d) collect property taxes and insurance
/.Planned communities and mandatory homeowners' associations are regulated
under which statute?
a) Chapt. 615 F.S.
b) Chapt. 715 F.S.
c) Chapt. 720 F.S.
d) Chapt. 728 F.S.
/.Powers of the association DO NOT include which of the following?
a) Enter into management contracts
b) Levy assessments
c) File a lien for unpaid assessments
d) Negotiate the sale of individual units
