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CHAPTER 2 Exam Questions and Answers Graded A+
Which of the following is a reason for a community association board directors to decide to obtain professional assistance - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions 
 
Florida law requires that an applicant for a CAM license meet all except which of the following qualifications - ANSWER-Be a full time resident of Florida 
 
Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his CAM licen...
- Package deal
- Exam (elaborations)
- • 3 pages •
Which of the following is a reason for a community association board directors to decide to obtain professional assistance - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions 
 
Florida law requires that an applicant for a CAM license meet all except which of the following qualifications - ANSWER-Be a full time resident of Florida 
 
Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his CAM licen...
Community Association Management Exam Questions and Answers 100% Accurate
Does a condo owner who manages his own community on a part-time basis need a real estate license? - ANSWER-No 
	 
Does a CPA who collects association assessments need a real estate license? - ANSWER-No 
 
Does a person working for a management company and managing only one association need a real estate license? - ANSWER-Yes 
 
Does a developer's employee who manages all of the developer's communities until turnover need a real estate license? - ANSWER-No 
 
Does a homeowner hired by two commu...
- Package deal
- Exam (elaborations)
- • 4 pages •
Does a condo owner who manages his own community on a part-time basis need a real estate license? - ANSWER-No 
	 
Does a CPA who collects association assessments need a real estate license? - ANSWER-No 
 
Does a person working for a management company and managing only one association need a real estate license? - ANSWER-Yes 
 
Does a developer's employee who manages all of the developer's communities until turnover need a real estate license? - ANSWER-No 
 
Does a homeowner hired by two commu...
Chapter 2 - Community Association Management Exam Questions and Answers 100% Verified
Which of the following is a reason for a community association board of directors to decide to obtain professional assistance? - ANSWER-A. Florida statues require that all associations with at least 100 units utilize professional management, unless an officer is a trained manager. 
	 
B. The board prefers to have professionals make policy decisions for the association. 
 
C. The board and officers do not have the necessary expertise or time to carry out complex management functions. 
 
D. The ma...
- Package deal
- Exam (elaborations)
- • 2 pages •
Which of the following is a reason for a community association board of directors to decide to obtain professional assistance? - ANSWER-A. Florida statues require that all associations with at least 100 units utilize professional management, unless an officer is a trained manager. 
	 
B. The board prefers to have professionals make policy decisions for the association. 
 
C. The board and officers do not have the necessary expertise or time to carry out complex management functions. 
 
D. The ma...
Chapter 2 - Community Association Management Exam Questions and Answers Graded A+
Which of the following is a reason for a community association board of directors to decide to obtain a professional assistance? - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions. 
	 
Florida law requires that an applicant for a CAM license meet all except which of the following qualifications? - ANSWER-Be a full-time resident of Florida 
 
Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his ...
- Package deal
- Exam (elaborations)
- • 3 pages •
Which of the following is a reason for a community association board of directors to decide to obtain a professional assistance? - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions. 
	 
Florida law requires that an applicant for a CAM license meet all except which of the following qualifications? - ANSWER-Be a full-time resident of Florida 
 
Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his ...
FL CAM Budget/Finance Exam Questions and Solved Answers by Experts
How long must an association maintain financial and accounting records? 
A. one calendar year 
B. eighteen months	 
C. seven years 
D. indefinitely - ANSWER-C. 7 Years 
 
How soon after the end of the fiscal year must the association prepare and complete a financial report? 
A. Within 21 days 
B. Within 30 days 
C. Within 90 days 
D. Within 120 days - ANSWER-C.) Within 90 days 
 
How often does a community association have to file a financial report with the Florida Department of State? 
A. Mont...
- Package deal
- Exam (elaborations)
- • 16 pages •
How long must an association maintain financial and accounting records? 
A. one calendar year 
B. eighteen months	 
C. seven years 
D. indefinitely - ANSWER-C. 7 Years 
 
How soon after the end of the fiscal year must the association prepare and complete a financial report? 
A. Within 21 days 
B. Within 30 days 
C. Within 90 days 
D. Within 120 days - ANSWER-C.) Within 90 days 
 
How often does a community association have to file a financial report with the Florida Department of State? 
A. Mont...
Chapter 3- Community Association Management Exam Questions and Answers with Complete Solutions
Community Association is both - ANSWER-is both a a community and a business. Community associations are established with principles similar to those of government and good business practices. 
 
Community Association function - ANSWER-is to preserve, maintain, and enhance the property, association, and assets. 
 
A community association serves - ANSWER-as the management entity. Members elect the board of directors to operate and govern the community. Rights are responsibilities are govern by Flo...
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- Exam (elaborations)
- • 5 pages •
Community Association is both - ANSWER-is both a a community and a business. Community associations are established with principles similar to those of government and good business practices. 
 
Community Association function - ANSWER-is to preserve, maintain, and enhance the property, association, and assets. 
 
A community association serves - ANSWER-as the management entity. Members elect the board of directors to operate and govern the community. Rights are responsibilities are govern by Flo...
CAM Exam Questions and Answers 100% Accurate
If employees claim exemption from income tax withholding, they must give the employer a new Form W-4 each __________. 
	 
Month	 
Year 
2 years 
3 years - ANSWER-Year. If an employee claims exemption from income tax withholding, this must be indicated on their signed W-4 upon starting work and the W-4 must be resubmitted annually. REFERENCE: MODULE 1: LESSON 1.7 | Employment Laws. 
 
The books and records of the timeshare plan shall be considered "reasonably available" within __________ after ...
- Package deal
- Exam (elaborations)
- • 15 pages •
If employees claim exemption from income tax withholding, they must give the employer a new Form W-4 each __________. 
	 
Month	 
Year 
2 years 
3 years - ANSWER-Year. If an employee claims exemption from income tax withholding, this must be indicated on their signed W-4 upon starting work and the W-4 must be resubmitted annually. REFERENCE: MODULE 1: LESSON 1.7 | Employment Laws. 
 
The books and records of the timeshare plan shall be considered "reasonably available" within __________ after ...
Chapter 3 CAM Test Questions and Answers 100% Verified
Who serves as the management entity? - ANSWER-A community association 
 
Florida Statutes organize each community association as a ___________________ - ANSWER-Corporation 
 
Powers of community associations - ANSWER-Budgeting for the maintenance and operation of the property, association and assets 
 
Collecting the necessary funds to carry out its duties 
 
Entering into contracts, hiring employees, and taking other measures as needed to meet its objectives 
 
Can the board ever delegate its r...
- Package deal
- Exam (elaborations)
- • 6 pages •
Who serves as the management entity? - ANSWER-A community association 
 
Florida Statutes organize each community association as a ___________________ - ANSWER-Corporation 
 
Powers of community associations - ANSWER-Budgeting for the maintenance and operation of the property, association and assets 
 
Collecting the necessary funds to carry out its duties 
 
Entering into contracts, hiring employees, and taking other measures as needed to meet its objectives 
 
Can the board ever delegate its r...
FLORIDA PRACTICE CAM EXAM 1 Questions and Answers Graded A+
The language in the Declaration of Condominium that creates a commitment, restriction, or contract between the association and the unit owners is called - ANSWER-Covenants 
	 
Under Chapter 718.1255, those eligible to petition for arbitration are: - ANSWER-An owner of a condominium unit 
 
Tom Tucker decides he can manage his association better than the management company and at significantly less cost. The board of directors of the 25 homes comprising the Too Cheap Homeowners' Association deci...
- Package deal
- Exam (elaborations)
- • 13 pages •
The language in the Declaration of Condominium that creates a commitment, restriction, or contract between the association and the unit owners is called - ANSWER-Covenants 
	 
Under Chapter 718.1255, those eligible to petition for arbitration are: - ANSWER-An owner of a condominium unit 
 
Tom Tucker decides he can manage his association better than the management company and at significantly less cost. The board of directors of the 25 homes comprising the Too Cheap Homeowners' Association deci...
FL Community Association Management Exam 2017 Questions and Answers with Complete Solutions
4 Types of Community Associations - ANSWER-1. Condo - FS 718 
 
2. Coop - FS 719 
 
3. HOA - FS 720 
 
4. Timeshare - FS 721 
 
NOT Mobile Home 723 
 
Which type of living condition is NOT a community association? - ANSWER-Mobile Home - FS 723 
 
Documents include (3) - ANSWER-1. Declaration 
 
2. Articles 
 
3. By-Laws 
 
A CAM license is NOT required to manage which type of property? - ANSWER-Commercial 
 
How is common property referred to in a condo, coop, HOA? - ANSWER-Condo - elements 
 
C...
- Package deal
- Exam (elaborations)
- • 5 pages •
4 Types of Community Associations - ANSWER-1. Condo - FS 718 
 
2. Coop - FS 719 
 
3. HOA - FS 720 
 
4. Timeshare - FS 721 
 
NOT Mobile Home 723 
 
Which type of living condition is NOT a community association? - ANSWER-Mobile Home - FS 723 
 
Documents include (3) - ANSWER-1. Declaration 
 
2. Articles 
 
3. By-Laws 
 
A CAM license is NOT required to manage which type of property? - ANSWER-Commercial 
 
How is common property referred to in a condo, coop, HOA? - ANSWER-Condo - elements 
 
C...