GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
How many days does the DBPR have to confirm if your
application is complete or not? - <<<<Answers>>>>30 days
CAM and CAB licensure is required only for.... -
<<<<Answers>>>>Management of residential community
associations
Managers for commercial property, such as a shopping center,
rental apartment building, office building, or professional
building does not usually hold a CAM license. Instead, what
license may they need? - <<<<Answers>>>>Also abbreviated
as CAM (Certified Apartment Manager)
The developer must file all required legal documents with
appropriate entities prior to...? - <<<<Answers>>>>Offering
units for sale
Once a developer has filed all required legal documents to
offer units for sale, what do those legal documents address? -
<<<<Answers>>>>Use of the land and administration,
maintenance, and operation of property and association
Legal documents that are made by a developer are referred to
as what? - <<<<Answers>>>>The documents or Formal
documents
, GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
If there is a prospective buyer or lessee interested in a unit the
developer is required.... - <<<<Answers>>>>To provide
copies of the documents to the prospect buyer or the interested
lessee
What is a prospectus or public offering statement? -
<<<<Answers>>>>This is a formal offering document that
summarizes the terms and conditions of sale, escrow
requirements, use restrictions (rules), assessment and charges
and other pertinent information.
In essence, the prospectus condenses important points that are
made in the sales contract, statutes and documents into a
single summary pamphlet.
Most importantly, the prospectus must include statutory
disclosures.
If disclosures and any other documents that are required by
statute are not provided... - <<<<Answers>>>>The buyer can
cancel the contract without penalty
What is the rescission period for Condo/Co-ops? -
<<<<Answers>>>>New: 15 calendar days
Resale: 3 calendar days
, GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
What is the rescission period for HOA? -
<<<<Answers>>>>New: 3 calendar days
Resale: 3 calendar days
What is the rescission period for Timeshare? -
<<<<Answers>>>>New: 10 calendar days
Resale: 10 calendar days
What determines which type of community association is
created? - <<<<Answers>>>>The developer
What is not needed regarding the creation of a community
association? - <<<<Answers>>>>The developer does not
need to create a prospectus.
What is the purpose of the documents offered by the
prospectus? - <<<<Answers>>>>The purpose of the
prospectus is to condense important points that are made in
the sales contract, statutes and documents into a single
summary pamphlet
When did Florida Legislature require community associations
to be structured as corporations? - <<<<Answers>>>>January
1, 1977
, GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
Florida Not for Profit Corporation Act (F.S. 617): -
<<<<Answers>>>>Provides laws that govern the not for
profit corporations. This was created to provide a means by
which an organized entity could benefit from corporate
safeguards and centralized administration but without the
intention of making a profit.
Florida Business Corporation Act (F.S. 607): -
<<<<Answers>>>>Provides laws that govern for profit
corporation
What must every corporation do every year?
How much is the annual fee for profit and not for profit?
When is it due? - <<<<Answers>>>>File and Annual
Corporate Report
For profit is $150
Not For Profit is $61.25
The report is due by May 1st
The articles of incorporation or the bylaws of a corporation
include, directly or indirectly, all the powers of F.S. 617
2025-2026)
How many days does the DBPR have to confirm if your
application is complete or not? - <<<<Answers>>>>30 days
CAM and CAB licensure is required only for.... -
<<<<Answers>>>>Management of residential community
associations
Managers for commercial property, such as a shopping center,
rental apartment building, office building, or professional
building does not usually hold a CAM license. Instead, what
license may they need? - <<<<Answers>>>>Also abbreviated
as CAM (Certified Apartment Manager)
The developer must file all required legal documents with
appropriate entities prior to...? - <<<<Answers>>>>Offering
units for sale
Once a developer has filed all required legal documents to
offer units for sale, what do those legal documents address? -
<<<<Answers>>>>Use of the land and administration,
maintenance, and operation of property and association
Legal documents that are made by a developer are referred to
as what? - <<<<Answers>>>>The documents or Formal
documents
, GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
If there is a prospective buyer or lessee interested in a unit the
developer is required.... - <<<<Answers>>>>To provide
copies of the documents to the prospect buyer or the interested
lessee
What is a prospectus or public offering statement? -
<<<<Answers>>>>This is a formal offering document that
summarizes the terms and conditions of sale, escrow
requirements, use restrictions (rules), assessment and charges
and other pertinent information.
In essence, the prospectus condenses important points that are
made in the sales contract, statutes and documents into a
single summary pamphlet.
Most importantly, the prospectus must include statutory
disclosures.
If disclosures and any other documents that are required by
statute are not provided... - <<<<Answers>>>>The buyer can
cancel the contract without penalty
What is the rescission period for Condo/Co-ops? -
<<<<Answers>>>>New: 15 calendar days
Resale: 3 calendar days
, GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
What is the rescission period for HOA? -
<<<<Answers>>>>New: 3 calendar days
Resale: 3 calendar days
What is the rescission period for Timeshare? -
<<<<Answers>>>>New: 10 calendar days
Resale: 10 calendar days
What determines which type of community association is
created? - <<<<Answers>>>>The developer
What is not needed regarding the creation of a community
association? - <<<<Answers>>>>The developer does not
need to create a prospectus.
What is the purpose of the documents offered by the
prospectus? - <<<<Answers>>>>The purpose of the
prospectus is to condense important points that are made in
the sales contract, statutes and documents into a single
summary pamphlet
When did Florida Legislature require community associations
to be structured as corporations? - <<<<Answers>>>>January
1, 1977
, GOLD COAST CAM LICENSE EXAM (ACTUAL
2025-2026)
Florida Not for Profit Corporation Act (F.S. 617): -
<<<<Answers>>>>Provides laws that govern the not for
profit corporations. This was created to provide a means by
which an organized entity could benefit from corporate
safeguards and centralized administration but without the
intention of making a profit.
Florida Business Corporation Act (F.S. 607): -
<<<<Answers>>>>Provides laws that govern for profit
corporation
What must every corporation do every year?
How much is the annual fee for profit and not for profit?
When is it due? - <<<<Answers>>>>File and Annual
Corporate Report
For profit is $150
Not For Profit is $61.25
The report is due by May 1st
The articles of incorporation or the bylaws of a corporation
include, directly or indirectly, all the powers of F.S. 617
