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 decides to hire him and pay him 10% of the $110,000 budget. Which applies? - ANSWER-Tom Tucker must have a license pursuant to Chapter 468, Florida Statutes. Safety Harbor Condominium wants to charge non-resident guests a $5 pool pass, valid for one week. Which applies? - ANSWER-As long as a non-resident guest fee is authorized in the governing documents, the charge is legal. A 14-day notice of a membership meeting of Valley Crest Condominium was given for the specific purpose of amending the Bylaws. A copy of the proposed changes was attached to the notice. During the meeting, motions were made and seconded that changed the wording of the amendments, a vote was taken, and the changed amendments were approved by 83% of the membership. Which applies? - ANSWER-The vote is invalid. Another meeting must be properly noticed with the new changes attached. Joe Blow, an owner at the Windy Hill Condominiums, resides there only three months out of the year. He has given the condominium board proper notice that he intends to run for a position on the board. The board has refused to place his name on the ballot. Which applies? - ANSWER-The statutes require the board to place on the ballot the name of any eligible person. The board of directors of Lazy Days Condominium hired a licensed manager. Which of the following applies? - ANSWER-The licensed manager may carry out most of the duties of the board. Sea Tern Condominium will be replacing the air conditioning units on the roof at the clubhouse which will cost more than $10,000. The condominium has a line item on its Reserve Schedule for air conditioning replacement. Which applies? - ANSWER-The replacement will be paid from the reserve account. If the reserve account is insufficient, a special assessment will be necessary. Sam and Barbara Smith are joint owners of a unit at the Pine Meadows Condominium.