FLORIDA CAM PREP QUESTIONS WITH ACCURATE
ANSWERS
A Community is defined as Accurate Answer - 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 Accurate Answer -
Formal (in writing), legal documents defining property rights, rules and
restrictions.
Community Associations are also refered to as Accurate Answer -
Covenant
Conceptually Community Associations: Accurate Answer - Maximize
land use, share responsibility, and expenses.
What are the 5 types of Community Associations? Accurate Answer
- Condo, Cooperative, HOA, Timeshare, Mobile Home Park
What are the 3 specific requirments of CA in Florida Accurate
Answer - 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?
Accurate Answer - Zoning, CDMP
These documents define the regulations for use of land, member's rights, &
responsibilities, and create the entity that will manage the community.
Accurate Answer - 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. Accurate Answer - New Condos/Coops - $20/unit
Timeshares - $2/7 day period each unit will be occupied, but not more than
$25,000
ANSWERS
A Community is defined as Accurate Answer - 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 Accurate Answer -
Formal (in writing), legal documents defining property rights, rules and
restrictions.
Community Associations are also refered to as Accurate Answer -
Covenant
Conceptually Community Associations: Accurate Answer - Maximize
land use, share responsibility, and expenses.
What are the 5 types of Community Associations? Accurate Answer
- Condo, Cooperative, HOA, Timeshare, Mobile Home Park
What are the 3 specific requirments of CA in Florida Accurate
Answer - 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?
Accurate Answer - Zoning, CDMP
These documents define the regulations for use of land, member's rights, &
responsibilities, and create the entity that will manage the community.
Accurate Answer - 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. Accurate Answer - New Condos/Coops - $20/unit
Timeshares - $2/7 day period each unit will be occupied, but not more than
$25,000
