COMMUNITY ASSOCIATION MANAGER EXAM WITH ALL
CORRECT & 100% VERIFIED ANSWERS|ACTUAL
COMPLETE EXAM|ALREADY GRADED A+
A community association is Generally defined as real or personal property,owned by two or more
entities, which share the responsibility for the cost of maintenance and administration ✔Correct
Answer-True
Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the
purchase ✔Correct Answer-True
Not for-profit corporations are exempt from federal income taxes ✔Correct Answer-False
A condominium and a hospital may join together to create a self insurance pool for windstorm
insurance, if approved by the comptroller ✔Correct Answer-False
All community associations have identical legal structures ✔Correct Answer-False
The association must mail a notice for a regular board of directors meeting no less than 48 hours in
advance ✔Correct Answer-False
If a timeshare property is a condominium, it must comply only with the condominium act
✔Correct Answer-False
The Florida fair housing act prohibits discrimination on the basis of handicap ✔Correct 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 mean issues
✔Correct Answer-False
A valid declaration of condominium must contain easements for ingress and egress to all units and
the common elements ✔Correct Answer-True
The cooperative is created when the article of incorporation are filed with the DBPR ✔Correct
Answer-False
A condominium cannot obtain windstorm only insurance from citizens if it has 50 or more units
rented for less than 30 days in an 8 month period ✔Correct Answer-False
Civic groups are governed by the homeowners association act ✔Correct Answer-False
When proposing amendments to the documents, a condominium should insert an underline in the
new words in the text ✔Correct Answer-True
The declaration of condominium is also called the corporate charter ✔Correct Answer-False
, Florida statutes prohibit the Florida catastrophe fund from reimbursing associations or individuals for
losses caused by flooding ✔Correct Answer-True
A timeshare divides residential property into specific time periods that provides members with
exclusive use rights ✔Correct Answer-True
Any amendment that proposes to change the proportional percentage by which each condominium
member shares in the common expenses or owns the common surplus requires approval of all
members and all holders of Liens, unless otherwise provided in the documents as originally recorded
✔Correct Answer-True
Appraised value an actual value mean the same thing ✔Correct Answer-False
The developer is exempt from any management responsibilities as long as he controls the board
✔Correct Answer-False
Purchasers of a condominium or cooperative resale unit have a three day period in which to cancel
the sales contract ✔Correct Answer-True
Limited common element is a term to use for property owned by a member of an association, but
are used by all members ✔Correct Answer-False
HOAs may join with other community associations to self insure for general liability insurance
✔Correct Answer-False
A homeowners association may suspend voting rights if a member is more than 90 days late in
paying an assessment or other monetary amount ✔Correct Answer-True
If approved by a majority of the voting interests present at a duly called and quorumed HOA
meeting, the members may vote to have the association prepare an annual review rather than an
annual audit, where the annual revenues were $750,000.00 ✔Correct Answer-False
25% of the members have petitioned it cooperative board for an audit rather than a compilation,
when past years annual revenues were $250,000. The association must hold a membership meeting
early within 30 days after receiving the petition to vote on this issue ✔Correct Answer-True
Homeowners association member meetings require a quorum of 30% of the total folding interest
unless a different number is provided in the bylaws ✔Correct Answer-True
The ombudsman Will monitor a cooperative election, it's 20% of the total voting interests, or six
members, whichever is greater, have signed a petition so requesting ✔Correct Answer-False
At an annual meeting of an HOA, even if a quorum is not present, the association may conduct the
election if it has received ballots from 20% of the members ✔Correct Answer-False
The DBPR governance form discusses the role of the condominium board in conducting day to day
affairs and the rights of members to attend and speak at meetings, among other things ✔Correct
Answer-True
Members in a cooperative association may not elect directors by voting in person at the meeting.
They must vote by general proxy ✔Correct Answer-False
CORRECT & 100% VERIFIED ANSWERS|ACTUAL
COMPLETE EXAM|ALREADY GRADED A+
A community association is Generally defined as real or personal property,owned by two or more
entities, which share the responsibility for the cost of maintenance and administration ✔Correct
Answer-True
Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the
purchase ✔Correct Answer-True
Not for-profit corporations are exempt from federal income taxes ✔Correct Answer-False
A condominium and a hospital may join together to create a self insurance pool for windstorm
insurance, if approved by the comptroller ✔Correct Answer-False
All community associations have identical legal structures ✔Correct Answer-False
The association must mail a notice for a regular board of directors meeting no less than 48 hours in
advance ✔Correct Answer-False
If a timeshare property is a condominium, it must comply only with the condominium act
✔Correct Answer-False
The Florida fair housing act prohibits discrimination on the basis of handicap ✔Correct 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 mean issues
✔Correct Answer-False
A valid declaration of condominium must contain easements for ingress and egress to all units and
the common elements ✔Correct Answer-True
The cooperative is created when the article of incorporation are filed with the DBPR ✔Correct
Answer-False
A condominium cannot obtain windstorm only insurance from citizens if it has 50 or more units
rented for less than 30 days in an 8 month period ✔Correct Answer-False
Civic groups are governed by the homeowners association act ✔Correct Answer-False
When proposing amendments to the documents, a condominium should insert an underline in the
new words in the text ✔Correct Answer-True
The declaration of condominium is also called the corporate charter ✔Correct Answer-False
, Florida statutes prohibit the Florida catastrophe fund from reimbursing associations or individuals for
losses caused by flooding ✔Correct Answer-True
A timeshare divides residential property into specific time periods that provides members with
exclusive use rights ✔Correct Answer-True
Any amendment that proposes to change the proportional percentage by which each condominium
member shares in the common expenses or owns the common surplus requires approval of all
members and all holders of Liens, unless otherwise provided in the documents as originally recorded
✔Correct Answer-True
Appraised value an actual value mean the same thing ✔Correct Answer-False
The developer is exempt from any management responsibilities as long as he controls the board
✔Correct Answer-False
Purchasers of a condominium or cooperative resale unit have a three day period in which to cancel
the sales contract ✔Correct Answer-True
Limited common element is a term to use for property owned by a member of an association, but
are used by all members ✔Correct Answer-False
HOAs may join with other community associations to self insure for general liability insurance
✔Correct Answer-False
A homeowners association may suspend voting rights if a member is more than 90 days late in
paying an assessment or other monetary amount ✔Correct Answer-True
If approved by a majority of the voting interests present at a duly called and quorumed HOA
meeting, the members may vote to have the association prepare an annual review rather than an
annual audit, where the annual revenues were $750,000.00 ✔Correct Answer-False
25% of the members have petitioned it cooperative board for an audit rather than a compilation,
when past years annual revenues were $250,000. The association must hold a membership meeting
early within 30 days after receiving the petition to vote on this issue ✔Correct Answer-True
Homeowners association member meetings require a quorum of 30% of the total folding interest
unless a different number is provided in the bylaws ✔Correct Answer-True
The ombudsman Will monitor a cooperative election, it's 20% of the total voting interests, or six
members, whichever is greater, have signed a petition so requesting ✔Correct Answer-False
At an annual meeting of an HOA, even if a quorum is not present, the association may conduct the
election if it has received ballots from 20% of the members ✔Correct Answer-False
The DBPR governance form discusses the role of the condominium board in conducting day to day
affairs and the rights of members to attend and speak at meetings, among other things ✔Correct
Answer-True
Members in a cooperative association may not elect directors by voting in person at the meeting.
They must vote by general proxy ✔Correct Answer-False
