2026 FLORIDA CERTIFIED ASSET MANAGEMENT (FL-CAM) –-COMPLETE EXAM
QUESTIONS AND CORRECT ANSWERS, GRADED A+
A Community Association is generally defined as real or personal property, owned by two or
more entities, which share the responsibility for the costs of maintenance and administration
True
Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the
purchase
True
The Florida Fair Housing Act prohibits discrimination on the basis of handicap
True
A valid Declaration of Condominium must contain easements for ingress and egress to all units
and the common elements
True
Compliance with the Construction Lien Law is very technical and can have an impact on title to
property. Therefore the board should always consult with the manager regarding lien issues
False. The board should consult an attorney.
Corporate Charter
Articles of Incorporation are also known as the
Establishes the power and authority of the community Association
Establishes the corporate entity that is responsible for management, maintenance and
operation of the community association
Is based in corporate law
Articles of Incorporation ( Corporate Charter)
Florida Not for Profit Corporate Act
FS 617
Florida Corporate Act
FS 607
Conducting business and Community Association affairs
Operating and managing the association property and assets
,Suing and defending against actions
Lending money for association purposes
Acquiring Property
Entering into contracts and purchasing items that are required for operations and maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association properties
Powers that are granted in FS 617
Condominium Act
FS 718
Form of joint ownership of real property that comprises:
Exclusive ownership of each unit
Joint undivided share of common elements
Required membership in the community association
What is a condominium?
Cooperative Act
FS 719
Mandatory Homeowner's Association
FS 720
Mandatory contents of a declaration ( condos)
FS 718.104
Definitions of the corporate entity, powers of association, easements, rights of access to unit,
insurance, official records of the association, community directory, financial reporting
requirements, purchase of units, purchase of land and recreation leases, operations of
condominiums created prior to January 1, 1977, commingling
FS 718.111
FS 718.1124
Definitions of required contents of bylaws, including administration, notice requirements,
quorum, proxies, voting requirements, elections, electronic voting, candidate eligibility, director
certificate/education requirements, recalls, arbitration, timeshare condominium exceptions,
board and member meetings, Annual budget requirements, assessments, amendment of
,bylaws, transfer fees, director and officer delinquencies and offenses, common elements
( limited power to convey to a condemning authority)
FS 718.113
Maintenance requirements, display of flags and religious decorations, hurricane shutters, and
other types of code-complaint hurricane protection
FS 718.114
Association powers, acquisition of leasehold memberships and other possessory or use interests
FS 718.115
Common Expenses and common surplus, expense and credits for hurricane protection,
communication expenses
FS 718.116
Liability for not paying common expenses, including the right to assess interest, lien, foreclose,
and collect rents from delinquent members etc., liability of first mortgage holder, liability of
previous owners
FS 718.303
Provides that if a member is more than 90 days delinquent or has failed to comply with his or
her monetary obligation that is due to the community association, or has failed to comply with
the documents or reasonable rules, the right to use common elements can be suspended.
Provides fining authority and procedures.
The pH of the pool water must be maintained at:
7.2-7.8
Condominium and Cooperative Associations pay an annual fee of $_______ per residential
unity, per ______ to the DFCTSMH Trust Fund
$4.00/ Year
A windstorm self insurance pool must include 3 or more associations, all of which must be
residential, with not less than 50 units.
True
The member must place an election ballot in an inner envelope, and place the inner envelope in
an outer envelope, which the member signs.
Procedures for voting in secret for members who are not in attendance at the annual meeting.
, The purpose of Regulatory Council of Community Association Managers is to
Provide licensure exam and continuing education requirements for CAMS
A volunteer director who is not compensated for his duties as a director need not have a CAM
license
True
Prospective members must receive certain information from an HOA when purchasing a new
unit, including Community Association Disclosures
True
An employee of the ombudsman's office may not serve as an officer in a local, state, or national
political party
True
Components of a collection policy should not include court charges for filing of liens
True
At will means
an employee who may be dismissed at any time for any non-discriminatory reasons, with or
without cause
.
FS 482
governs pest control companies and operators
The Ombudsman duties include but are not limited to
Encourage and facilitate voluntary meetings with and between members, directors, managers,
and other affected parties of condominiums
Community association management companies must file for company insurance
Once very two years on October 1st of odd numbered years.
HOA's must file for arbitration with DBPR when members contest elections of recalls
True
Pursuant to FS 720, an HOA has all the following powers in an emergency declared by the
governer:
QUESTIONS AND CORRECT ANSWERS, GRADED A+
A Community Association is generally defined as real or personal property, owned by two or
more entities, which share the responsibility for the costs of maintenance and administration
True
Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the
purchase
True
The Florida Fair Housing Act prohibits discrimination on the basis of handicap
True
A valid Declaration of Condominium must contain easements for ingress and egress to all units
and the common elements
True
Compliance with the Construction Lien Law is very technical and can have an impact on title to
property. Therefore the board should always consult with the manager regarding lien issues
False. The board should consult an attorney.
Corporate Charter
Articles of Incorporation are also known as the
Establishes the power and authority of the community Association
Establishes the corporate entity that is responsible for management, maintenance and
operation of the community association
Is based in corporate law
Articles of Incorporation ( Corporate Charter)
Florida Not for Profit Corporate Act
FS 617
Florida Corporate Act
FS 607
Conducting business and Community Association affairs
Operating and managing the association property and assets
,Suing and defending against actions
Lending money for association purposes
Acquiring Property
Entering into contracts and purchasing items that are required for operations and maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association properties
Powers that are granted in FS 617
Condominium Act
FS 718
Form of joint ownership of real property that comprises:
Exclusive ownership of each unit
Joint undivided share of common elements
Required membership in the community association
What is a condominium?
Cooperative Act
FS 719
Mandatory Homeowner's Association
FS 720
Mandatory contents of a declaration ( condos)
FS 718.104
Definitions of the corporate entity, powers of association, easements, rights of access to unit,
insurance, official records of the association, community directory, financial reporting
requirements, purchase of units, purchase of land and recreation leases, operations of
condominiums created prior to January 1, 1977, commingling
FS 718.111
FS 718.1124
Definitions of required contents of bylaws, including administration, notice requirements,
quorum, proxies, voting requirements, elections, electronic voting, candidate eligibility, director
certificate/education requirements, recalls, arbitration, timeshare condominium exceptions,
board and member meetings, Annual budget requirements, assessments, amendment of
,bylaws, transfer fees, director and officer delinquencies and offenses, common elements
( limited power to convey to a condemning authority)
FS 718.113
Maintenance requirements, display of flags and religious decorations, hurricane shutters, and
other types of code-complaint hurricane protection
FS 718.114
Association powers, acquisition of leasehold memberships and other possessory or use interests
FS 718.115
Common Expenses and common surplus, expense and credits for hurricane protection,
communication expenses
FS 718.116
Liability for not paying common expenses, including the right to assess interest, lien, foreclose,
and collect rents from delinquent members etc., liability of first mortgage holder, liability of
previous owners
FS 718.303
Provides that if a member is more than 90 days delinquent or has failed to comply with his or
her monetary obligation that is due to the community association, or has failed to comply with
the documents or reasonable rules, the right to use common elements can be suspended.
Provides fining authority and procedures.
The pH of the pool water must be maintained at:
7.2-7.8
Condominium and Cooperative Associations pay an annual fee of $_______ per residential
unity, per ______ to the DFCTSMH Trust Fund
$4.00/ Year
A windstorm self insurance pool must include 3 or more associations, all of which must be
residential, with not less than 50 units.
True
The member must place an election ballot in an inner envelope, and place the inner envelope in
an outer envelope, which the member signs.
Procedures for voting in secret for members who are not in attendance at the annual meeting.
, The purpose of Regulatory Council of Community Association Managers is to
Provide licensure exam and continuing education requirements for CAMS
A volunteer director who is not compensated for his duties as a director need not have a CAM
license
True
Prospective members must receive certain information from an HOA when purchasing a new
unit, including Community Association Disclosures
True
An employee of the ombudsman's office may not serve as an officer in a local, state, or national
political party
True
Components of a collection policy should not include court charges for filing of liens
True
At will means
an employee who may be dismissed at any time for any non-discriminatory reasons, with or
without cause
.
FS 482
governs pest control companies and operators
The Ombudsman duties include but are not limited to
Encourage and facilitate voluntary meetings with and between members, directors, managers,
and other affected parties of condominiums
Community association management companies must file for company insurance
Once very two years on October 1st of odd numbered years.
HOA's must file for arbitration with DBPR when members contest elections of recalls
True
Pursuant to FS 720, an HOA has all the following powers in an emergency declared by the
governer:
