Florida Cam Exam Questions and Answers 100% Verified

A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - ANSWER-True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - ANSWER-True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - ANSWER-True A valid Declaration of Condominium must contain easements for ingress and egress to all units and the common elements - ANSWER-True Compliance with the Construction Lien Law is very technical and can have an impact on title to property. Therefore the board should always consult with the manager regarding lien issues - ANSWER-False. The board should consult an attorney. Corporate Charter - ANSWER-Articles of Incorporation are also known as the Establishes the power and authority of the community Association Establishes the corporate entity that is responsible for management, maintenance and operation of the community association Is based in corporate law - ANSWER-Articles of Incorporation ( Corporate Charter) Florida Not for Profit Corporate Act - ANSWER-FS 617 Florida Corporate Act - ANSWER-FS 607 Conducting business and Community Association affairs Operating and managing the association property and assets Suing and defending against actions Lending money for association purposes Acquiring Property