SOLVED QUESTIONS AND VERIFIED ANSWERS
◉ Florida Corporate Act. Answer: 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. Answer: Powers that
are granted in FS 617
◉ Condominium Act. Answer: 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. Answer: What
is a condominium?
◉ Cooperative Act. Answer: FS 719
◉ Mandatory Homeowner's Association. Answer: FS 720
◉ Mandatory contents of a declaration ( condos). Answer: 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.
Answer: FS 718.111
◉ FS 718.1124. Answer: 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. Answer: Maintenance requirements, display of flags
and religious decorations, hurricane shutters, and other types of
code-complaint hurricane protection
◉ FS 718.114. Answer: Association powers, acquisition of leasehold
memberships and other possessory or use interests
◉ FS 718.115. Answer: Common Expenses and common surplus,
expense and credits for hurricane protection, communication
expenses
◉ FS 718.116. Answer: 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
◉ FS 718.303. Answer: Provides that if a member is more than 90
days delinquent or has failed to comply with his or her monetary
obligation that is due to the community association, or has failed to
comply with the documents or reasonable rules, the right to use
common elements can be suspended. Provides fining authority and
procedures.
◉ The pH of the pool water must be maintained at:. Answer: 7.2-7.8
, ◉ Condominium and Cooperative Associations pay an annual fee of
$_______ per residential unity, per ______ to the DFCTSMH Trust Fund.
Answer: $4.00/ Year
◉ A windstorm self insurance pool must include 3 or more
associations, all of which must be residential, with not less than 50
units.. Answer: True
◉ The member must place an election ballot in an inner envelope,
and place the inner envelope in an outer envelope, which the
member signs.. Answer: Procedures for voting in secret for members
who are not in attendance at the annual meeting.
◉ The purpose of Regulatory Council of Community Association
Managers is to. Answer: Provide licensure exam and continuing
education requirements for CAMS
◉ A volunteer director who is not compensated for his duties as a
director need not have a CAM license. Answer: True
◉ Prospective members must receive certain information from an
HOA when purchasing a new unit, including Community Association
Disclosures. Answer: True