Colorado CAM License Exam Questions With Accurate
Solutions.
Common interest community - accurate answers-a community in which, by
virtue of owning property, you are required to pay assessments
common elements - accurate answers-all portions of the property that are
open to the entire community
plat/map - accurate answers-drawing of the community marking clear
boundaries, filed with the county
Articles of Incorporation - accurate answers-filed with the county, this
document must include the name of corporation, name and address of
registered agent, principal office address, name and address of each
incorporator, and a statement of whether it will have voting members
bylaws - accurate answers-includes the Board of Directors and titles of office,
elections, list of powers; also includes which officer signs amendments
Hierarchy of Documents - accurate answers-Federal Statutes -> State Statutes
-> Declaration/Plat -> Articles of Incorporation -> Bylaws ->
Resolutions/Rules/Policies
50% - 67% - accurate answers-CCIOA regulation on what percentage of
owners you need to amend a declaration
court petition - accurate answers-requires half of your regular Declaration
amendment quorum, 2 written notices to owners, 1 meeting open to owners,
and can't have 1/3 of homeowners object via petition
first mortgagees - accurate answers-organization that provided mortgage to
homeowners; you sometimes need approval from these banks to pass a
Declaration amendment
certified notice to first mortgagees - accurate answers-You must publish
notice at least twice, 1 week apart, in a local publication, and you must send
the whole amendment in a mailing to the bank.
, limited common elements - accurate answers-not open to all, but still a public
space, usually reserved for one or more homeowners
July 1st, 1992 - accurate answers-passage of CCIOA
political sign limits - accurate answers-45 days before election, 7 days after,
with one sign per ballot measure
emergency vehicle limits - accurate answers-<10,000 lbs.
required policies - accurate answers-1) adoption/amendment of policies,
procedures, and rules, 2) collections, 3) conduct of meetings, 4) examination,
inspection, and copying of records, 5) enforcement, 6) conflicts of interest, 7)
reserve fund investments, 8) ADR, 9) reserve studies
planned unit development - accurate answers-homeowners own plots of land
condominiums - accurate answers-homeowners own airspace bound by the
perimeter, floors, and ceilings
roles/responsibilities of owners - accurate answers-elect/remove board,
amend documents, approve/veto budget
fiduciary duty - accurate answers-duty of care, duty of loyalty, duty of
confidentiality
roles/responsibilities of the board - accurate answers-rules, budgets, use of
C/E, fines, manager, legal action, enter contracts, late fees, interest, attorney
fees
due process - accurate answers-no fines may be imposed without formal
notice and an opportunity for a hearing
Statute of Limitations - accurate answers-there is a 1 year limit to enforce
rules within finding out about the violation or when the manager should have
found out about the violation
Solutions.
Common interest community - accurate answers-a community in which, by
virtue of owning property, you are required to pay assessments
common elements - accurate answers-all portions of the property that are
open to the entire community
plat/map - accurate answers-drawing of the community marking clear
boundaries, filed with the county
Articles of Incorporation - accurate answers-filed with the county, this
document must include the name of corporation, name and address of
registered agent, principal office address, name and address of each
incorporator, and a statement of whether it will have voting members
bylaws - accurate answers-includes the Board of Directors and titles of office,
elections, list of powers; also includes which officer signs amendments
Hierarchy of Documents - accurate answers-Federal Statutes -> State Statutes
-> Declaration/Plat -> Articles of Incorporation -> Bylaws ->
Resolutions/Rules/Policies
50% - 67% - accurate answers-CCIOA regulation on what percentage of
owners you need to amend a declaration
court petition - accurate answers-requires half of your regular Declaration
amendment quorum, 2 written notices to owners, 1 meeting open to owners,
and can't have 1/3 of homeowners object via petition
first mortgagees - accurate answers-organization that provided mortgage to
homeowners; you sometimes need approval from these banks to pass a
Declaration amendment
certified notice to first mortgagees - accurate answers-You must publish
notice at least twice, 1 week apart, in a local publication, and you must send
the whole amendment in a mailing to the bank.
, limited common elements - accurate answers-not open to all, but still a public
space, usually reserved for one or more homeowners
July 1st, 1992 - accurate answers-passage of CCIOA
political sign limits - accurate answers-45 days before election, 7 days after,
with one sign per ballot measure
emergency vehicle limits - accurate answers-<10,000 lbs.
required policies - accurate answers-1) adoption/amendment of policies,
procedures, and rules, 2) collections, 3) conduct of meetings, 4) examination,
inspection, and copying of records, 5) enforcement, 6) conflicts of interest, 7)
reserve fund investments, 8) ADR, 9) reserve studies
planned unit development - accurate answers-homeowners own plots of land
condominiums - accurate answers-homeowners own airspace bound by the
perimeter, floors, and ceilings
roles/responsibilities of owners - accurate answers-elect/remove board,
amend documents, approve/veto budget
fiduciary duty - accurate answers-duty of care, duty of loyalty, duty of
confidentiality
roles/responsibilities of the board - accurate answers-rules, budgets, use of
C/E, fines, manager, legal action, enter contracts, late fees, interest, attorney
fees
due process - accurate answers-no fines may be imposed without formal
notice and an opportunity for a hearing
Statute of Limitations - accurate answers-there is a 1 year limit to enforce
rules within finding out about the violation or when the manager should have
found out about the violation
