Chapter 3 CAM Test Questions and Answers 100% Verified

Who serves as the management entity? - ANSWER-A community association Florida Statutes organize each community association as a ___________________ - ANSWER-Corporation Powers of community associations - ANSWER-Budgeting for the maintenance and operation of the property, association and assets Collecting the necessary funds to carry out its duties Entering into contracts, hiring employees, and taking other measures as needed to meet its objectives Can the board ever delegate its responsibility for decision making? - ANSWER-NO What does LCAM stand for? - ANSWER-Licensed Community Association Manager * This designation is unnecessary and inappropriate since managers in Florida must be licensed January 1, 2009 - ANSWER-As of this date, Florida also requires that a corporation, partnership or other entity that provides community association management services be a licensed Community Association Business (CAB) CAM Licensure - ANSWER-Required only for management of community associations A person who manages individual properties (units or lots) within one or more community associations, but does not manage a community association, does not need a CAM license, regardless of the number of units they manage A person's role or position - ANSWER-A person's title does not define that person's role or position A person's role or position is more accurately described and defined by his or her actions and or inactions