Cam Exam Questions Answers Rated 96 Best Update 2024
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Course
NURSING 706
Institution
NURSING 706
Cam Exam - Questions & Answers (Rated 96%) Best Update 2024
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
Purchasers of a timeshare plan have a ten day contra...
1). 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
Ans: True
2). Purchasers of a timeshare plan have a ten day contract rescission period in which to
cancel the purchase
Ans: True
3). The florida fair housing act prohibits discrimination on the basis of handicap
Ans: True
4). A valid declaration of condominium must contain easements for ingress and egress to all
units and the common elements
Ans: True
5). 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
Ans: False. The board should consult an attorney.
6). Corporate charter
Ans: Articles of Incorporation are also known as the
7). 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
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, Ans: Articles of Incorporation ( Corporate Charter)
8). Florida not for profit corporate act
Ans: FS 617
9). Florida corporate act
Ans: FS 607
10). 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
Ans: Powers that are granted in FS 617
11). Condominium act
Ans: FS 718
12). 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
Ans: What is a condominium?
13). Cooperative act
Ans: FS 719
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, 14). Mandatory homeowner's association
Ans: FS 720
15). Mandatory contents of a declaration ( condos)
Ans: FS 718.104
16). 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
Ans: FS 718.111
17). Fs 718.1124
Ans: 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)
18). Fs 718.113
Ans: Maintenance requirements, display of flags and religious decorations, hurricane
shutters, and other types of code-complaint hurricane protection
19). Fs 718.114
Ans: Association powers, acquisition of leasehold memberships and other
possessory or use interests
20). Fs 718.115
Ans: Common Expenses and common surplus, expense and credits for hurricane
protection, communication expenses
21). Fs 718.116
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, Ans: 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
22). Fs 718.303
Ans: 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.
23). The ph of the pool water must be maintained at:
Ans: 7.2-7.8
24). Condominium and cooperative associations pay an annual fee of $_______ per residential
unity, per ______ to the dfctsmh trust fund
Ans: $4.00/ Year
25). A windstorm self insurance pool must include 3 or more associations, all of which must be
residential, with not less than 50 units.
Ans: True
26). The member must place an election ballot in an inner envelope, and place the inner
envelope in an outer envelope, which the member signs.
Ans: Procedures for voting in secret for members who are not in attendance at the
annual meeting.
27). The purpose of regulatory council of community association managers is to
Ans: Provide licensure exam and continuing education requirements for CAMS
28). A volunteer director who is not compensated for his duties as a director need not have a
cam license
Ans: True
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