Florida Community Association Manager (CAM) Exam
2026 – 100+ Practice Questions with Verified Answers
& Detailed Rationales | PDF STUDYGUIDE
1. Which statute governs the licensure and duties of Community Association
Managers (CAMs) in Florida?
A) Florida Statute Chapter 718
B) Florida Statute Chapter 720
C) Florida Statute Chapter 468 Part III
D) Florida Statute Chapter 607
Answer: C
Rationale: Chapter 468 Part III is the Community Association Management Services Act,
which regulates licensing, duties, and professional responsibilities of CAMs in Florida.
Chapters 718 and 720 govern condominiums and homeowners’ associations but not CAM
licensing.
2. A CAM’s primary responsibility is to:
A) Make all policy decisions for the association
B) Implement board directives and manage daily operations
C) Draft association governing documents
D) Replace board members as needed
Answer: B
Rationale: CAMs manage daily operations, implement board policies, and ensure
compliance with laws. Policy-making authority rests with the board of directors, not the
manager.
3. Which document establishes the procedures for board and membership meetings?
A) Articles of Incorporation
B) Bylaws
,C) CC&Rs (Covenants, Conditions, & Restrictions)
D) Annual Budget
Answer: B
Rationale: Bylaws set rules for meeting notice, quorum, voting, and governance
procedures. CC&Rs govern property use but not internal meeting rules.
4. A board of directors meeting requires a quorum, which is typically:
A) All members present
B) Half of all homeowners
C) Majority of directors present
D) Any number of attendees
Answer: C
Rationale: Florida law generally requires a majority of board members present to conduct
business unless bylaws specify otherwise.
5. A CAM must maintain association financial records for at least:
A) 1 year
B) 3 years
C) 5 years
D) 7 years
Answer: B
Rationale: Florida statutes require CAMs to retain financial records for three years for
audits and owner inspection.
6. Reserve studies are used to:
A) Reduce owner fees
B) Plan for long-term replacement and repair costs
C) Hire new staff
D) Draft meeting minutes
,Answer: B
Rationale: Reserve studies analyze future repair and replacement costs for major
components (roofs, HVAC, paving) to ensure proper funding and financial planning.
7. What must a notice of an annual membership meeting include?
A) Only the date
B) Date, time, location, and agenda
C) Only location
D) Manager’s signature
Answer: B
Rationale: Florida law requires full disclosure so members can participate meaningfully,
including agenda items like elections or budgets.
8. CAMs must maintain which type of insurance coverage for the association?
A) Personal auto insurance
B) Professional liability (errors & omissions) and fidelity coverage
C) Homeowner’s insurance
D) None
Answer: B
Rationale: E&O and fidelity insurance protect the association from managerial mistakes or
theft by employees or board members.
9. Under the Fair Housing Act, discrimination is prohibited based on:
A) Marital status
B) Disability
C) Income level
D) Education
, Answer: B
Rationale: The Fair Housing Act protects persons with disabilities, along with other
protected classes such as race, color, and familial status.
10. A special assessment may be levied only if:
A) The CAM approves it
B) Owners approve it according to bylaws
C) The board president approves it
D) It is optional
Answer: B
Rationale: Special assessments require owner approval if the association governing
documents or Florida statutes mandate it, ensuring checks on board power.
11. Which financial statement reflects income and expenses over a period?
A) Balance Sheet
B) Statement of Cash Flows
C) Income Statement (Profit & Loss Statement)
D) Trial Balance
Answer: C
Rationale: Income statements report operational performance over a defined period,
showing net income or loss. Balance sheets reflect financial position at a point in time.
12. How should CAMs handle a conflict of interest?
A) Ignore it
B) Disclose it before board votes affecting personal interest
C) Vote secretly
D) Only disclose if requested
2026 – 100+ Practice Questions with Verified Answers
& Detailed Rationales | PDF STUDYGUIDE
1. Which statute governs the licensure and duties of Community Association
Managers (CAMs) in Florida?
A) Florida Statute Chapter 718
B) Florida Statute Chapter 720
C) Florida Statute Chapter 468 Part III
D) Florida Statute Chapter 607
Answer: C
Rationale: Chapter 468 Part III is the Community Association Management Services Act,
which regulates licensing, duties, and professional responsibilities of CAMs in Florida.
Chapters 718 and 720 govern condominiums and homeowners’ associations but not CAM
licensing.
2. A CAM’s primary responsibility is to:
A) Make all policy decisions for the association
B) Implement board directives and manage daily operations
C) Draft association governing documents
D) Replace board members as needed
Answer: B
Rationale: CAMs manage daily operations, implement board policies, and ensure
compliance with laws. Policy-making authority rests with the board of directors, not the
manager.
3. Which document establishes the procedures for board and membership meetings?
A) Articles of Incorporation
B) Bylaws
,C) CC&Rs (Covenants, Conditions, & Restrictions)
D) Annual Budget
Answer: B
Rationale: Bylaws set rules for meeting notice, quorum, voting, and governance
procedures. CC&Rs govern property use but not internal meeting rules.
4. A board of directors meeting requires a quorum, which is typically:
A) All members present
B) Half of all homeowners
C) Majority of directors present
D) Any number of attendees
Answer: C
Rationale: Florida law generally requires a majority of board members present to conduct
business unless bylaws specify otherwise.
5. A CAM must maintain association financial records for at least:
A) 1 year
B) 3 years
C) 5 years
D) 7 years
Answer: B
Rationale: Florida statutes require CAMs to retain financial records for three years for
audits and owner inspection.
6. Reserve studies are used to:
A) Reduce owner fees
B) Plan for long-term replacement and repair costs
C) Hire new staff
D) Draft meeting minutes
,Answer: B
Rationale: Reserve studies analyze future repair and replacement costs for major
components (roofs, HVAC, paving) to ensure proper funding and financial planning.
7. What must a notice of an annual membership meeting include?
A) Only the date
B) Date, time, location, and agenda
C) Only location
D) Manager’s signature
Answer: B
Rationale: Florida law requires full disclosure so members can participate meaningfully,
including agenda items like elections or budgets.
8. CAMs must maintain which type of insurance coverage for the association?
A) Personal auto insurance
B) Professional liability (errors & omissions) and fidelity coverage
C) Homeowner’s insurance
D) None
Answer: B
Rationale: E&O and fidelity insurance protect the association from managerial mistakes or
theft by employees or board members.
9. Under the Fair Housing Act, discrimination is prohibited based on:
A) Marital status
B) Disability
C) Income level
D) Education
, Answer: B
Rationale: The Fair Housing Act protects persons with disabilities, along with other
protected classes such as race, color, and familial status.
10. A special assessment may be levied only if:
A) The CAM approves it
B) Owners approve it according to bylaws
C) The board president approves it
D) It is optional
Answer: B
Rationale: Special assessments require owner approval if the association governing
documents or Florida statutes mandate it, ensuring checks on board power.
11. Which financial statement reflects income and expenses over a period?
A) Balance Sheet
B) Statement of Cash Flows
C) Income Statement (Profit & Loss Statement)
D) Trial Balance
Answer: C
Rationale: Income statements report operational performance over a defined period,
showing net income or loss. Balance sheets reflect financial position at a point in time.
12. How should CAMs handle a conflict of interest?
A) Ignore it
B) Disclose it before board votes affecting personal interest
C) Vote secretly
D) Only disclose if requested
