Community association manager | Questions and Correct Answers | Latest Update 2024/2025

Community association manager | Questions and Correct Answers | Latest Update 2024/2025 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 - Answer -True Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the purchase - Answer -True Not for-profit corporations are exempt from federal income taxes - Answer -False A condominium and a hospital may join together to create a self insurance pool for windstorm insurance, if approved by the comptroller - Answer -False All community associations have identical legal structures - Answer - False The association must mail a notice for a regular board of directors meeting no less than 48 hours in advance - Answer -FalseIf a timeshare property is a condominium, it must comply only with the condominium act - Answer -False The Florida fair housing act prohibits discrimination on the basis of handicap - Answer -True Compliance with the construction lien law is ver