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Which of the following is a reason for a community association board directors to decide to obtain professional assistance - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions Florida law requires that an applicant for a CAM license meet all except which of the following qualifications - ANSWER-Be a full time resident of Florida Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his CAM licen...

Does a condo owner who manages his own community on a part-time basis need a real estate license? - ANSWER-No Does a CPA who collects association assessments need a real estate license? - ANSWER-No Does a person working for a management company and managing only one association need a real estate license? - ANSWER-Yes Does a developer's employee who manages all of the developer's communities until turnover need a real estate license? - ANSWER-No Does a homeowner hired by two commu...

Which of the following is a reason for a community association board of directors to decide to obtain professional assistance? - ANSWER-A. Florida statues require that all associations with at least 100 units utilize professional management, unless an officer is a trained manager. B. The board prefers to have professionals make policy decisions for the association. C. The board and officers do not have the necessary expertise or time to carry out complex management functions. D. The ma...

Which of the following is a reason for a community association board of directors to decide to obtain a professional assistance? - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions. Florida law requires that an applicant for a CAM license meet all except which of the following qualifications? - ANSWER-Be a full-time resident of Florida Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his ...

How long must an association maintain financial and accounting records? A. one calendar year B. eighteen months C. seven years D. indefinitely - ANSWER-C. 7 Years How soon after the end of the fiscal year must the association prepare and complete a financial report? A. Within 21 days B. Within 30 days C. Within 90 days D. Within 120 days - ANSWER-C.) Within 90 days How often does a community association have to file a financial report with the Florida Department of State? A. Mont...

Community Association is both - ANSWER-is both a a community and a business. Community associations are established with principles similar to those of government and good business practices. Community Association function - ANSWER-is to preserve, maintain, and enhance the property, association, and assets. A community association serves - ANSWER-as the management entity. Members elect the board of directors to operate and govern the community. Rights are responsibilities are govern by Flo...

If employees claim exemption from income tax withholding, they must give the employer a new Form W-4 each __________. Month Year 2 years 3 years - ANSWER-Year. If an employee claims exemption from income tax withholding, this must be indicated on their signed W-4 upon starting work and the W-4 must be resubmitted annually. REFERENCE: MODULE 1: LESSON 1.7 | Employment Laws. The books and records of the timeshare plan shall be considered "reasonably available" within __________ after ...

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 r...

The language in the Declaration of Condominium that creates a commitment, restriction, or contract between the association and the unit owners is called - ANSWER-Covenants Under Chapter 718.1255, those eligible to petition for arbitration are: - ANSWER-An owner of a condominium unit Tom Tucker decides he can manage his association better than the management company and at significantly less cost. The board of directors of the 25 homes comprising the Too Cheap Homeowners' Association deci...

4 Types of Community Associations - ANSWER-1. Condo - FS 718 2. Coop - FS 719 3. HOA - FS 720 4. Timeshare - FS 721 NOT Mobile Home 723 Which type of living condition is NOT a community association? - ANSWER-Mobile Home - FS 723 Documents include (3) - ANSWER-1. Declaration 2. Articles 3. By-Laws A CAM license is NOT required to manage which type of property? - ANSWER-Commercial How is common property referred to in a condo, coop, HOA? - ANSWER-Condo - elements C...

Define Community Association - ANSWER-Real or Personal Property, Owned by two or more entities, with legally binding agreement to share responsibility for and cost of maintenance and administration of the property assets and association and with specific rights granted to the members. What are 5 types of Community Association - ANSWER-Condo 718, Coops 719, HOA 720, Timeshare 721, Mobile Home Park 723 What are the primary purposes of Community association - ANSWER-To preserve, protect and e...

RCCAM - ANSWER-Regulatory Council of Community Association Managers Ch. 455 F.S. "Occupations and Professions Acts" - ANSWER-gives the DBPR executive powers, quasi-legislative (authority to make rules) and quasi-judicial (authority to judge and punish) powers in an effort to "protect the public" Quasi-legislative - ANSWER-Authority to make rules Quasi-judicial - ANSWER-Authority to judge and punish Division of Florida Condominiums, Timeshares, and Mobile Homes - ANSWER-has the p...

1. - ANSWER-The definition of a community association includes which of the following: - ANSWER-a. A residential or commercial development whether a condominium, cooperative, or homeowners' association. - ANSWER-b. A development where membership is mandatory and which is authorized to impose a fee on owners. - ANSWER-c. A development where the owners may opt out of the membership prior to signing the contract for sale. - ANSWER-d. A development that places the maintenance and o...

The documents of ABC condominium Association do not require reserves the proposed budget - ANSWER-Must at a minimum include statutory reserves All of the following categories of expenditures and required to be included in a condominium budget Except - ANSWER-Professional fees Verdona oaks community is compromised of two low raises each with an association two towers with one association and 10 villas and one association. How many total associations are located in Verdona Oaks - ANSWER-5 ...

Community Association (Definition) - ANSWER-a residential homeowners' association in which membership is a condition of ownership (mandatory) of a unit in a planned unit development, or of a lot for a home or a mobile home, or of a townhouse, villa, condominium, cooperative, or other residential unit which is part of a residential development scheme and which is authorized to impose a fee (assessment) which may become a lien on the parcel. Assessment - ANSWER-The amount of money a unit or p...

1988 - ANSWER-The State of Florida in the year ____ required LICENSING OF COMMUNITY ASSOCIATION MANAGERS. Four - ANSWER-Teaching Methods, candidates mush retain their Pre-Examination Course Completion for a period of ____ years from the date received. 4,250,000 - ANSWER-According to the Background of Community Association Living, there are ______ units in the State of Florida. The "Not-for-Profit Corporation Act" - ANSWER-As to Section I. LAW 1.a., Chapter 617, F.S. is known as ____....

The rights that each member has to participate in the business of the association is describe in the? - ANSWER--articles of incorporation -the bylaws An association can suspend the voting right of a member - ANSWER-True A association can suspend the voting right of a member if the member fails to pay any monetary obligation for - ANSWER-90 days or longer Types of meetings an association can conduct - ANSWER--Annual meetings -Special meetings -Budget meetings -Committee meetings ...

The pH of the pool water must be maintained at: - ANSWER-7.2-7.8 A person who manages a rental apartment complex _____ a Community Association Manager's License. - ANSWER-May, but is not required, to have. Condominium & Cooperative Associations pay an annual fee of $____ per residential unit, per ____, to the DFCTSMH Trust Fund. - ANSWER-$4.00/year Toca Chica Cooperative, with 35 units, has joined with Levitz Office Condominium, to form a self-insurance pool for windstorm insurance. Le...

Florida Condominium Law is contained in which Chapter of the Florida Statutes? - ANSWER-718 Minutes of meeting of the BOD must be maintained for: - ANSWER-7 years Emergency powers of a condominium board, if a state of emergency has been declared, include: - ANSWER-Borrow money and pledge association assets as collateral to fund emergency repairs A condominium association files a lien for unpaid assessments against one of its unit owners, the lien is effective for: - ANSWER-One year af...

Cooperatives - ANSWER-Joint ownership of a real estate where an individuals purchased shares of stock in a corporation. Condominium is created when the declaration of convenience is recorded in the: - ANSWER-Public records of the county where the property is located. Timeshare - ANSWER-Community permits individual units to be owned and occupied for fixed period for less than a year. Chapter 617, F.S. Florida not for Profit Act - ANSWER-Florida Statute majority homeowners association is...