Florida CAM License
Florida A&M University
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Florida CAM Prep Exam(20242025) Questions And Guaranteed Pass Solutions.
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A Community is defined as - Answer 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 - Answer Formal (in writing), legal documents defining property rights, rules and restrictions. 
 
Community Associations are also refered to as - Answer ...
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Community Association Manager pre-test Questions And Correct Answers.
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When is a CIC created? - Answer A CIC is created when the declaration (CC&Rs) is recorded with the county. No later than the date the first unit is conveyed 
 
How many elected board members are required under NRS 116B, once the declarant's control of a condominium hotel terminates? - Answer 3 
 
A common interest community is? - Answer Real estate described in a declaration in which individual unit owners are required to pay a portion of the expenses related to the common elements. 
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Community Association Manager Licensing Exam And Actual Answers.
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Community Association (Definition) - Answer a residential homeowners' association in which membership is a condition of ownership (mandatory) of a unit in a planned unit development, or of a lot for a home or a mobile home, or of a townhouse, villa, condominium, cooperative, or other residential unit which is part of a residential development scheme and which is authorized to impose a fee (assessment) which may become a lien on the parcel. 
 
Assessment - Answer The amount of money a unit...
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CAM Financial Management Test Questions Fully Answered.
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What are 6 ways to generate and collect income? - Answer 1. Rent 
2. Parking 
3. Cable, internet 
4. Clubhouse rental 
5. Fees: late, pet 
6. Laundry/Vending 
 
What are 6 controllable expenses? - Answer 1. Salaries personnel 
2. Insurance 
3. Utilities 
4. Taxes 
5. Advertising 
6. Maintenance 
 
What 3 questions should you ask when performing a financial analysis? - Answer 1. How well has a property performed over a specific time period. 
2. Where does a property stand at a given d...
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Florida CAM LICENSE Exam Questions | 50 Questions with 100% Correct Answers
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Florida Condominium Law is contained in which Chapter of the Florida Statutes? - 
718 
Minutes of meeting of the BOD must be maintained for: - 7 years 
Emergency powers of a condominium board, if a state of emergency has been 
declared, include: - Borrow money and pledge association assets as collateral to 
fund emergency repairs 
A condominium association files a lien for unpaid assessments against one of its unit 
owners, the lien is effective for: - One year after claim of lien was recorded 
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Florida CAM License Exam Questions | 100 Questions with 100% Correct Answers
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1. Condominium form of ownership is comprised of units owned by one or more persons 
and joint ownership of ________ share in the common elements. 
A. a percentage 
B. an undivided 
C. a proportional 
D. a complete - B. an undivided 
Condominium means individual ownership of a unit coupled with joint ownership of an 
undivided share of the common elements as well as mandatory membership in the 
association. 
2. Under the General Corporate Law _______, community associations have the right to 
bu...
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