Florida Cam Exam questions and answers
rated A
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 - True
Purchasers of a timeshare plan have a ten day contract rescission period in which
to cancel the purchase - True
The Florida Fair Housing Act prohibits discrimination on the basis of handicap -
True
A valid Declaration of Condominium must contain easements for ingress and
egress to all units and the common elements - 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 - False. The board should consult an attorney.
Corporate Charter - Articles of Incorporation are also known as the
Establishes the power and authority of the community Association
,Florida Cam Exam questions and answers
rated A
Establishes the corporate entity that is responsible for management, maintenance
and operation of the community association
Is based in corporate law - Articles of Incorporation ( Corporate Charter)
Florida Not for Profit Corporate Act - FS 617
Florida Corporate Act - 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
Entering into contracts and purchasing items that are required for operations and
maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association properties - Powers that are granted in FS 617
,Florida Cam Exam questions and answers
rated A
Condominium Act - FS 718
Form of joint ownership of real property that comprises:
Exclusive ownership of each unit
Joint undivided share of common elements
Required membership in the community association - What is a condominium?
Cooperative Act - FS 719
Mandatory Homeowner's Association - FS 720
Mandatory contents of a declaration ( condos) - FS 718.104
Definitions of the corporate entity, powers of association, easements, rights of
access to unit, insurance, official records of the association, community directory,
financial reporting requirements, purchase of units, purchase of land and
recreation leases, operations of condominiums created prior to January 1, 1977,
commingling - FS 718.111
, Florida Cam Exam questions and answers
rated A
FS 718.1124 - Definitions of required contents of bylaws, including administration,
notice requirements, quorum, proxies, voting requirements, elections, electronic
voting, candidate eligibility, director certificate/education requirements, recalls,
arbitration, timeshare condominium exceptions, board and member meetings,
Annual budget requirements, assessments, amendment of bylaws, transfer fees,
director and officer delinquencies and offenses, common elements ( limited
power to convey to a condemning authority)
FS 718.113 - Maintenance requirements, display of flags and religious decorations,
hurricane shutters, and other types of code-complaint hurricane protection
FS 718.114 - Association powers, acquisition of leasehold memberships and other
possessory or use interests
FS 718.115 - Common Expenses and common surplus, expense and credits for
hurricane protection, communication expenses
FS 718.116 - Liability for not paying common expenses, including the right to
assess interest, lien, foreclose, and collect rents from delinquent members etc.,
liability of first mortgage holder, liability of previous owners
rated A
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 - True
Purchasers of a timeshare plan have a ten day contract rescission period in which
to cancel the purchase - True
The Florida Fair Housing Act prohibits discrimination on the basis of handicap -
True
A valid Declaration of Condominium must contain easements for ingress and
egress to all units and the common elements - 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 - False. The board should consult an attorney.
Corporate Charter - Articles of Incorporation are also known as the
Establishes the power and authority of the community Association
,Florida Cam Exam questions and answers
rated A
Establishes the corporate entity that is responsible for management, maintenance
and operation of the community association
Is based in corporate law - Articles of Incorporation ( Corporate Charter)
Florida Not for Profit Corporate Act - FS 617
Florida Corporate Act - 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
Entering into contracts and purchasing items that are required for operations and
maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association properties - Powers that are granted in FS 617
,Florida Cam Exam questions and answers
rated A
Condominium Act - FS 718
Form of joint ownership of real property that comprises:
Exclusive ownership of each unit
Joint undivided share of common elements
Required membership in the community association - What is a condominium?
Cooperative Act - FS 719
Mandatory Homeowner's Association - FS 720
Mandatory contents of a declaration ( condos) - FS 718.104
Definitions of the corporate entity, powers of association, easements, rights of
access to unit, insurance, official records of the association, community directory,
financial reporting requirements, purchase of units, purchase of land and
recreation leases, operations of condominiums created prior to January 1, 1977,
commingling - FS 718.111
, Florida Cam Exam questions and answers
rated A
FS 718.1124 - Definitions of required contents of bylaws, including administration,
notice requirements, quorum, proxies, voting requirements, elections, electronic
voting, candidate eligibility, director certificate/education requirements, recalls,
arbitration, timeshare condominium exceptions, board and member meetings,
Annual budget requirements, assessments, amendment of bylaws, transfer fees,
director and officer delinquencies and offenses, common elements ( limited
power to convey to a condemning authority)
FS 718.113 - Maintenance requirements, display of flags and religious decorations,
hurricane shutters, and other types of code-complaint hurricane protection
FS 718.114 - Association powers, acquisition of leasehold memberships and other
possessory or use interests
FS 718.115 - Common Expenses and common surplus, expense and credits for
hurricane protection, communication expenses
FS 718.116 - Liability for not paying common expenses, including the right to
assess interest, lien, foreclose, and collect rents from delinquent members etc.,
liability of first mortgage holder, liability of previous owners
