Community Association Manager Licensing Exam | Questions and Answers Rated A+ | 2024/2025 Guide
0 view 0 purchase
Course
M100
Institution
M100
Community Association Manager Licensing Exam | Questions and Answers Rated A+ | 2024/2025 Guide
Community Association Manager Licensing Exam | Questions and Answers Rated A+ | 2024/2025 Guide
Community Association Manager Licensing Exam | Questions and Answers Rated A+ | 2024/2025 Guide
Community Association Manager
Licensing Exam | Questions and
Answers Rated A+ | 2024/2025
Guide
When a board of directors does not properly maintain the common
elements of the association, the residents may:
A) File a complaint with the Regulatory Council
B) Use the association equipment and do it themselves
C) Sue the board
D) Restrict the board of directors' use of the amenities
- Correct Answer - C
The Hire It Done Condos has beautiful lawns and landscaping. The
board of directors wants to sign a 3-yr contract for lawn maintenance
that will be $13,000 annually. The total budget for the association is
$250,000 including reserves. Which applies?
A) The board is not required to solicit bids because the contract is only
for three years
B) The board is required to solicit bids.
C) The board must have the contract approved by at least 2/3 of the
voting interests
D) It is illegal for the board to enter into the contract if the lawn
maintenance company is not licensed and bonded
- Correct Answer - B
Alternative Dispute Resolution does not include which of the following
disputes:
A) Elections
,B) Notice of meetings
C) Inspection of books and records
D) Developer warranties
- Correct Answer - D
When a board of directors does not act in a timely manner to enforce
a rule or fails to enforce a rule, the future enforcement of that rule may
be prohibited based on the principal of:
A) Arbitration
B) Due process
C) Discrimination
D) Equitable estoppel
- Correct Answer - D
A board may suspend the right of the owner or tenant for failure to
comply with the governing documents. The board may not suspend
which of the following:
A) Use of the pool and clubhouse
B) Use of the covered parking
C) Use of the shuffleboard court
D) Use of the dog walk
- Correct Answer - B
Budgets of a community association may be adopted by either the
board of directors or by the membership. Which of the following
determines the body that adopts the budget?
A) FL Satutes 617
B) Department of Financial Affairs
C) Governing documents
,D) FL Administrative Code
- Correct Answer - C)
The Don't Be Tardy Condo receives a request for a Certificate of
Assessment. The association has how long to provide that certificate?
A) 48 hours
B) 14 days
C) 10 days
D) 21 days
- Correct Answer - C)
The budget of a coop reflects anticipated revenues and expenses, as
well as a reserve schedule with the required categories for roofing,
painting, and paving. It also includes a contingency on the reserve
schedule for shortfalls that will undoubtedly occur during the year. Which
applies?
A) Deferred maintenance items are not shown on the reserve schedule
B) Contingency reserves should be an item in the operating portion of
the budget
C) The board should special assess for deferred maintenance shortfalls
and not build it into the reserves
D) There is no need for a contingency reserve because funds can be
simply taken from one account to another.
- Correct Answer - B)
The Let's Fight About It Homeowner's Association has scheduled a
board of directors meeting to approve the budget. How much notice
must be given?
A) 48 hours
B) 7 days
C) 10 days
, D) 14 days
- Correct Answer - D) 14 days required !!!
The documents of Sleepy Time Condos are silent with regard to the
frequency of collecting assessments from its unit owners. When
documents are silent, which applies?
A) The board may determine the frequency and send a notice to the
owners
B) The board must collect at least quarterly
C) The membership may determine the frequency by a majority vote of
the members
D) The Regulatory Council of the DBPR will make the determination
- Correct Answer - B)
Before a condo association can file a Claim of Lien against David
Debtor, it must first:
A) Provide a 30-day Notice of Intent
B) Issue an estoppel certificate
C) notify the clerk of the circuit court
D) meet with the association attorney
- Correct Answer - A)
A condo assoc. with revenues over $500,000 must provide owners
with which type of financial statements?
A) Audited
B) Reviewed
C) Compiled
D) Cash Report of Revenues and Expenses
- Correct Answer - A)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller nursehailey. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
