COMMUNITY ASSOCIATION MANAGER LICENSE(CAM) TEST | QUESTIONS
AND VERIFIED ANSWERS | ALREADY HIGHLY RATED | LATEST EXAM UPDATE
1099 Form - CORRECT ANSWER - - Used to report various types of income
paid to others that would not be reported on a W-2
- Required for unincorporated payees receiving $600 or more during any
calendar year
- Must be filed with IRS by the end of February for previous calendar year
(copies must be sent to the payee by the end of January)
The subcontractor or supplier of materials is called a "lien claimant" and can
record its lien in the land records of the county where the property is located
within *how many* days of the last date that work was performed -
CORRECT ANSWER - 90
The lien claimant must field a lien action against the hiring entity within *how
many* days from the date the lien was filed or the lien automatically expires -
CORRECT ANSWER - 365
In order to comply with the Right to Repair Act, an association must provide the
contractor with a notice of the defect *how many* days before filing suit -
CORRECT ANSWER - 90
,The contractor has *how many* days to respond, either accepting responsibility,
rejecting responsibility, or asking for more information and the opportunity to
inspect - CORRECT ANSWER - 30
In order to comply with the Right to Repair Act, an association that wishes to
move forward with a lawsuit must obtain approval of *fraction* vote of the
membership - CORRECT ANSWER - 2/3
Two Required insurances for GCAs - CORRECT ANSWER - 1. CGL
(commercial general liability) - $1 million for single occurrence and $2 million
aggregate
2. Property Insurance (hazard/casualty)
True or False: The GCA insurance will cover majority except personal
belongings pf owner or upgrades they have made - CORRECT ANSWER -
True
True or False: The GCA can charge a unit per claim more than
$5,000 for their deductible. - CORRECT ANSWER - False. The GCA states
that they can only charge UP TO $5,000 of a deductible to a unit and cannot
charge more.
,Can a POAA and HOA charge more than $5,000 in a deductible to lot owners? -
CORRECT ANSWER - Yes, they can, unlike a GCA.
True of False: A smaller deductible equals more costly insurance plan -
CORRECT ANSWER - True, therefore a higher deductible would mean a
more affordable plan
Statute of Limitations - CORRECT ANSWER - Two years from the date of the
covenant violation
Selective Enforcement - CORRECT ANSWER - Association does not enforce
one of the covenants, but does enforce others; Association enforces a particular
covenant differently between and among owners
Laches - CORRECT ANSWER - Watching an owner spend money while
committing a violation of the covenants, but board does nothing about it, the
association will be barred by the defense (i.e. watching someone purchase a
pool at Walmart and not saying they can't do that)
Estoppel - CORRECT ANSWER - The association will not be permitted to
successfully enforce the covenants if the violator was influence by the conduct
, or representations of the association (i.e. giving a new back porch a compliment
and not advising that is was not approved; Have to always have on manager hat)
Waiver - CORRECT ANSWER - Not written explicitly how long before right
is waived to enforce a covenant; but considers any waived chance the
association had to acknowledge
Vague and Indefinite - CORRECT ANSWER - The covenant must clearly
establish the rights and obligations of the parties (i.e. "offensive activity" is
deemed vague and indefinite
F RE S H CO R N (in regards to Fair Housing Act) - CORRECT ANSWER -
Familial Status
REligion
Sex Handicap COlor Race
National Origin
(NOTICE this DOES NOT include age!!!!)
In adult only communities, must be occupied by at least one person age *what
age* or older in *percentage* of the dwellings - CORRECT ANSWER - 55
and 80%
AND VERIFIED ANSWERS | ALREADY HIGHLY RATED | LATEST EXAM UPDATE
1099 Form - CORRECT ANSWER - - Used to report various types of income
paid to others that would not be reported on a W-2
- Required for unincorporated payees receiving $600 or more during any
calendar year
- Must be filed with IRS by the end of February for previous calendar year
(copies must be sent to the payee by the end of January)
The subcontractor or supplier of materials is called a "lien claimant" and can
record its lien in the land records of the county where the property is located
within *how many* days of the last date that work was performed -
CORRECT ANSWER - 90
The lien claimant must field a lien action against the hiring entity within *how
many* days from the date the lien was filed or the lien automatically expires -
CORRECT ANSWER - 365
In order to comply with the Right to Repair Act, an association must provide the
contractor with a notice of the defect *how many* days before filing suit -
CORRECT ANSWER - 90
,The contractor has *how many* days to respond, either accepting responsibility,
rejecting responsibility, or asking for more information and the opportunity to
inspect - CORRECT ANSWER - 30
In order to comply with the Right to Repair Act, an association that wishes to
move forward with a lawsuit must obtain approval of *fraction* vote of the
membership - CORRECT ANSWER - 2/3
Two Required insurances for GCAs - CORRECT ANSWER - 1. CGL
(commercial general liability) - $1 million for single occurrence and $2 million
aggregate
2. Property Insurance (hazard/casualty)
True or False: The GCA insurance will cover majority except personal
belongings pf owner or upgrades they have made - CORRECT ANSWER -
True
True or False: The GCA can charge a unit per claim more than
$5,000 for their deductible. - CORRECT ANSWER - False. The GCA states
that they can only charge UP TO $5,000 of a deductible to a unit and cannot
charge more.
,Can a POAA and HOA charge more than $5,000 in a deductible to lot owners? -
CORRECT ANSWER - Yes, they can, unlike a GCA.
True of False: A smaller deductible equals more costly insurance plan -
CORRECT ANSWER - True, therefore a higher deductible would mean a
more affordable plan
Statute of Limitations - CORRECT ANSWER - Two years from the date of the
covenant violation
Selective Enforcement - CORRECT ANSWER - Association does not enforce
one of the covenants, but does enforce others; Association enforces a particular
covenant differently between and among owners
Laches - CORRECT ANSWER - Watching an owner spend money while
committing a violation of the covenants, but board does nothing about it, the
association will be barred by the defense (i.e. watching someone purchase a
pool at Walmart and not saying they can't do that)
Estoppel - CORRECT ANSWER - The association will not be permitted to
successfully enforce the covenants if the violator was influence by the conduct
, or representations of the association (i.e. giving a new back porch a compliment
and not advising that is was not approved; Have to always have on manager hat)
Waiver - CORRECT ANSWER - Not written explicitly how long before right
is waived to enforce a covenant; but considers any waived chance the
association had to acknowledge
Vague and Indefinite - CORRECT ANSWER - The covenant must clearly
establish the rights and obligations of the parties (i.e. "offensive activity" is
deemed vague and indefinite
F RE S H CO R N (in regards to Fair Housing Act) - CORRECT ANSWER -
Familial Status
REligion
Sex Handicap COlor Race
National Origin
(NOTICE this DOES NOT include age!!!!)
In adult only communities, must be occupied by at least one person age *what
age* or older in *percentage* of the dwellings - CORRECT ANSWER - 55
and 80%
