2026 FLORIDA CAM REVIEW EXAMS TEST
QUESTIONS AND ANSWERS SURE A+
✔✔If approved by a majority TVI 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 - ✔✔True
✔✔25% of the members have petitioned its cooperative board for an audit rather than a
compilation, when the past years annual revenue were $250,000. The association must
hold a membership meeting within 30 days after receiving the petition to vote on this
issue. - ✔✔True
✔✔HOA's member meetings require a quorum of 30% TVI unless a different number is
provided in the bylaws. - ✔✔True
✔✔The DBPR Governance Form discusses the role of the condo board in conducting
day to day affairs and the rights of members to attend and speak at meetings, among
other things. - ✔✔True
✔✔The board of directors is the managing entity for a community association. - ✔✔True
,✔✔At a condo election, once the outer envelope is opened, the association may accept
no additional ballots. - ✔✔True
✔✔All community associations are required to have a financial plan that sets forth the
proposed revenues and expenditures of funds for the maintenance and management of
association properties for the fiscal year. - ✔✔True
✔✔In an inner envelope contains more than one ballot, neither ballot is valid. - ✔✔True
✔✔In a mobile homeowner's association, all nominations for director from the floor must
be made available at a duly noticed meeting of the members held at least 30 days prior
to the annual meeting. - ✔✔True
✔✔Six directors of a seven member board of directors resign. Can the remaining
director appoint individuals who are eligible for the board to fill those vacancies? -
✔✔Yes
✔✔If a director exercises prudent business judgment, he assures that he understands
the requirements of his position and spends sufficient time to properly carry out his
functions. - ✔✔True
✔✔If using an online voting system an association must use an online voting system
that is able to authenticate the validity of each electronic ballot to ensure the ballot was
not altered in transit. - ✔✔True
✔✔Florida law requires that all corporations have a registered agent and registered
office - ✔✔True
✔✔A proxy in a condo association is valid for a period of up to 90 days after the date of
the first meeting for which it was given. - ✔✔True
✔✔Assessments, membership fees, and maintenance fees are different words that
essentially mean the same thing. - ✔✔True
✔✔Deferred maintenance means any maintenance or repair that will be performed less
frequently than yearly and which will result in maintaining or extending the useful life of
an asset. - ✔✔True
✔✔Unless the governing documents require a membership vote, the board of directors
may approve a special assessment - ✔✔True
✔✔Condos, Coops and HOA's must keep all records for at least seven years, by
statute. - ✔✔True
, ✔✔Line Item Accounts to be included in Cash Basis Financial Reports for Condos are: -
✔✔Professional and management fees and expenses
Costs for recreation Facilities
Trash Collection
Utilities
Taxes
Maintenance and Repair
Insurance
Lawn Care
Admin and Salaries
Reserves
Deferred Maintenance
Any other category for which the association maintains reserves
✔✔Line Items to be included in Cash Basis Financial Reports for HOAS are: -
✔✔Professional and management fees and expenses
Costs for recreation Facilities
Trash Collection
Utilities
Taxes
Maintenance and Repair
Insurance
Lawn Care
Admin and Salaries
Reserves if maintained by the association
Costs for security
✔✔Annual Financial Reports must be prepared as follows: - ✔✔less than total annual
revenue of $150,000 - Cash Receipts
$150-$300- Compilation
$300-$499/ Review
$500,000 or more - Audit
✔✔A copy of the most recent annual financial report, or a notice of the most recent
annual financial report must be mailed or hand delivered to the unit owner, without
charge, within _____ business days after receipt of written notice from the memeber -
✔✔5
✔✔Under Part VI of the Condominium Act, all tenants have certain rights when an
existing rental property is converted to a condominium. These rights include: - ✔✔The
option to extend their current lease
✔✔Material alterations of the common elements must be checked against the language
of the declaration and the condo act before they can proceed - ✔✔True
QUESTIONS AND ANSWERS SURE A+
✔✔If approved by a majority TVI 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 - ✔✔True
✔✔25% of the members have petitioned its cooperative board for an audit rather than a
compilation, when the past years annual revenue were $250,000. The association must
hold a membership meeting within 30 days after receiving the petition to vote on this
issue. - ✔✔True
✔✔HOA's member meetings require a quorum of 30% TVI unless a different number is
provided in the bylaws. - ✔✔True
✔✔The DBPR Governance Form discusses the role of the condo board in conducting
day to day affairs and the rights of members to attend and speak at meetings, among
other things. - ✔✔True
✔✔The board of directors is the managing entity for a community association. - ✔✔True
,✔✔At a condo election, once the outer envelope is opened, the association may accept
no additional ballots. - ✔✔True
✔✔All community associations are required to have a financial plan that sets forth the
proposed revenues and expenditures of funds for the maintenance and management of
association properties for the fiscal year. - ✔✔True
✔✔In an inner envelope contains more than one ballot, neither ballot is valid. - ✔✔True
✔✔In a mobile homeowner's association, all nominations for director from the floor must
be made available at a duly noticed meeting of the members held at least 30 days prior
to the annual meeting. - ✔✔True
✔✔Six directors of a seven member board of directors resign. Can the remaining
director appoint individuals who are eligible for the board to fill those vacancies? -
✔✔Yes
✔✔If a director exercises prudent business judgment, he assures that he understands
the requirements of his position and spends sufficient time to properly carry out his
functions. - ✔✔True
✔✔If using an online voting system an association must use an online voting system
that is able to authenticate the validity of each electronic ballot to ensure the ballot was
not altered in transit. - ✔✔True
✔✔Florida law requires that all corporations have a registered agent and registered
office - ✔✔True
✔✔A proxy in a condo association is valid for a period of up to 90 days after the date of
the first meeting for which it was given. - ✔✔True
✔✔Assessments, membership fees, and maintenance fees are different words that
essentially mean the same thing. - ✔✔True
✔✔Deferred maintenance means any maintenance or repair that will be performed less
frequently than yearly and which will result in maintaining or extending the useful life of
an asset. - ✔✔True
✔✔Unless the governing documents require a membership vote, the board of directors
may approve a special assessment - ✔✔True
✔✔Condos, Coops and HOA's must keep all records for at least seven years, by
statute. - ✔✔True
, ✔✔Line Item Accounts to be included in Cash Basis Financial Reports for Condos are: -
✔✔Professional and management fees and expenses
Costs for recreation Facilities
Trash Collection
Utilities
Taxes
Maintenance and Repair
Insurance
Lawn Care
Admin and Salaries
Reserves
Deferred Maintenance
Any other category for which the association maintains reserves
✔✔Line Items to be included in Cash Basis Financial Reports for HOAS are: -
✔✔Professional and management fees and expenses
Costs for recreation Facilities
Trash Collection
Utilities
Taxes
Maintenance and Repair
Insurance
Lawn Care
Admin and Salaries
Reserves if maintained by the association
Costs for security
✔✔Annual Financial Reports must be prepared as follows: - ✔✔less than total annual
revenue of $150,000 - Cash Receipts
$150-$300- Compilation
$300-$499/ Review
$500,000 or more - Audit
✔✔A copy of the most recent annual financial report, or a notice of the most recent
annual financial report must be mailed or hand delivered to the unit owner, without
charge, within _____ business days after receipt of written notice from the memeber -
✔✔5
✔✔Under Part VI of the Condominium Act, all tenants have certain rights when an
existing rental property is converted to a condominium. These rights include: - ✔✔The
option to extend their current lease
✔✔Material alterations of the common elements must be checked against the language
of the declaration and the condo act before they can proceed - ✔✔True
