Florida CAM Prep Exam questions and answers 2024(graded A+)

A Community is defined as Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and with specific rights granted to the members. Community Associations are structured by Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also refered to as Covenant Conceptually Community Associations: Maximize land use, share responsibility, and expenses. What are the 5 types of Community Associations? Condo, Cooperative, HOA, Timeshare, Mobile Home Park What are the 3 specific requirments of CA in Florida Membership is mandatory, members must have the right to vote, an assessment, if unpaid can become a lien. What factors influence the type of association that can be developed? Zoning, CDMP These documents define the regulations for use of land, member's rights, & responsibilities, and create the entity that will manage the community. Declaration of covenants & restrictions/declaration of condominium, Articles of incorporation, bylaws. Developer must pay a fee at the time he files any required documents with the DBPR. New Condos/Coops - $20/unit Timeshares - $2/7 day period each unit will be occupied, but not more than $25,000 Mobile Homes - $10/lot but not less than $100 Developer must file the documents with certain governmental entities, and pay a fee for each unit or lot in a community True Florida requires all community associations to be incorporated since? True Florida requires all community associations to be incorporated since? April 1, 1992 HOA's do not pay fees, as they are not regulated by the state. True DFCTSMH Stands for? Division of Florida Condominiums, Time Shares, & Mobile Homes DFCTSMH has 2 divisions: Bureau of Standards & Registration (New Developments) Bureau of Compliance (Existing Associations) The CAM license is valid for 2 years and the period starts on Oct 1st of ______ ______ and expires on September 30th of ______ ______ (fill in the blanks): Even Years There are continuing education requirements of 20 hours for every licensing term to maintain the CAM license. True - Initial license if exempt for first term. The CAM's roll is to: Implement the policies and procedures of the association though and by direction of the board of directors. A CAM license is required for managing if: There are more then 10 units or budget(s) in excess of $100,000. The association is not required to hire a manager or management company. Volunteer Directors and officers may manage the property with out a license. A 7 member council of community association managers is appointed by? The governor and confirmed by the senate. Add or remove terms