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FL CAM EXAM AND PRACTICE EXAM 2 NEWEST 2026 TEST
BANK| FLORIDA COMMUNITY ASSOCIATION MANAGER
PRE-LICENSING EXAM PREP WITH COMPLETE 100 REAL
EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS/
ALREADY GRADED A+ (MOST RECENT!!)
Question 1
Cost Conscious Condominium is preparing its annual budget. Expenses in the
proposed budget are to be listed by:
A. Accounting methods
B. Account and classification
C. Sequence
D. Numerical order
Answer: B
Rationale: Under Florida community association budgeting requirements, the
annual budget must list estimated expenses by account and classification. This
allows owners to see the purpose and category of each expenditure, such as
maintenance, insurance, management, and reserves.
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Question 2
Kathryn Stifspine, a cooperative shareholder, becomes delinquent in payment
of her monetary obligations to the association. The association may:
A. Immediately begin foreclosure proceedings
B. Restrict her voting rights immediately when she becomes delinquent
C. Demand that the tenant occupying her home pay future monetary
obligations for assessments due from Kathryn to the association and make
Kathryn aware of this demand
D. Deny Kathryn the right to use the cooperative amenities
Answer: C
Rationale: In a cooperative, when a shareholder is delinquent, the association
may demand that the tenant pay future monetary obligations to the
association. The association must also notify the delinquent shareholder of
this demand. This remedy helps the association collect ongoing assessments
without immediately terminating the proprietary lease.
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Question 3
A majority of the quorum at a membership meeting of a community
association may vote to ______ the collection of a reserve for a roof
replacement costing an estimated $21,470.
A. Eliminate from current and future consideration
B. Let only new owners fund
C. Transfer to the wealthiest owners
D. Waive
Answer: D
Rationale: The membership may vote to waive the funding of reserves for a
specific budget year. If the required membership vote is obtained, the
association may waive the reserve collection for that item. This does not
permanently eliminate the reserve obligation unless future memberships
continue to waive it.
Question 4
Members of a condominium or cooperative association must be provided at
least how many days’ advance notice of a meeting where assessments will be
established?
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A. 7
B. 10
C. 14
D. 21
Answer: C
Rationale: Florida law requires at least 14 days’ notice to unit owners or
shareholders before a meeting at which assessments will be established. The
notice must include the proposed budget or assessment information so
owners can review it before the meeting.
Question 5
What percentage of the voting interest in a condominium association must
petition the board to reconsider the newly adopted budget?
A. 10%
B. 15%
C. 20%
D. 25%
Answer: A
Rationale: If the board adopts a budget, 10 percent of the voting interests
may petition the board to reconsider the budget. The petition must be
FL CAM EXAM AND PRACTICE EXAM 2 NEWEST 2026 TEST
BANK| FLORIDA COMMUNITY ASSOCIATION MANAGER
PRE-LICENSING EXAM PREP WITH COMPLETE 100 REAL
EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS/
ALREADY GRADED A+ (MOST RECENT!!)
Question 1
Cost Conscious Condominium is preparing its annual budget. Expenses in the
proposed budget are to be listed by:
A. Accounting methods
B. Account and classification
C. Sequence
D. Numerical order
Answer: B
Rationale: Under Florida community association budgeting requirements, the
annual budget must list estimated expenses by account and classification. This
allows owners to see the purpose and category of each expenditure, such as
maintenance, insurance, management, and reserves.
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Question 2
Kathryn Stifspine, a cooperative shareholder, becomes delinquent in payment
of her monetary obligations to the association. The association may:
A. Immediately begin foreclosure proceedings
B. Restrict her voting rights immediately when she becomes delinquent
C. Demand that the tenant occupying her home pay future monetary
obligations for assessments due from Kathryn to the association and make
Kathryn aware of this demand
D. Deny Kathryn the right to use the cooperative amenities
Answer: C
Rationale: In a cooperative, when a shareholder is delinquent, the association
may demand that the tenant pay future monetary obligations to the
association. The association must also notify the delinquent shareholder of
this demand. This remedy helps the association collect ongoing assessments
without immediately terminating the proprietary lease.
,3
Question 3
A majority of the quorum at a membership meeting of a community
association may vote to ______ the collection of a reserve for a roof
replacement costing an estimated $21,470.
A. Eliminate from current and future consideration
B. Let only new owners fund
C. Transfer to the wealthiest owners
D. Waive
Answer: D
Rationale: The membership may vote to waive the funding of reserves for a
specific budget year. If the required membership vote is obtained, the
association may waive the reserve collection for that item. This does not
permanently eliminate the reserve obligation unless future memberships
continue to waive it.
Question 4
Members of a condominium or cooperative association must be provided at
least how many days’ advance notice of a meeting where assessments will be
established?
, 4
A. 7
B. 10
C. 14
D. 21
Answer: C
Rationale: Florida law requires at least 14 days’ notice to unit owners or
shareholders before a meeting at which assessments will be established. The
notice must include the proposed budget or assessment information so
owners can review it before the meeting.
Question 5
What percentage of the voting interest in a condominium association must
petition the board to reconsider the newly adopted budget?
A. 10%
B. 15%
C. 20%
D. 25%
Answer: A
Rationale: If the board adopts a budget, 10 percent of the voting interests
may petition the board to reconsider the budget. The petition must be
