NEVADA CAM LICENSE CLASS EXAM STUDY
GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS VERIFIED
● The original corporate structure of a condominium association is
established in the Answer: Articles of Incorporation
● A claim of Lien on a condo unit for delinquent assessments is in effect
from the time of recording for a period of Answer: 12 Months
● The process for obtaining a community association manager's license,
renewal provisions and standards of professional conduct us set forth in
the Answer: Florida Administrative Code & Chapter 468 Part VIII
● In the event of a conflict, the hierarchy of documents is the Answer: 1)
Declaration
2) Articles of Incorporation
3) Bylaws
4) Rules & Regulations
● The amount of all receipts and revenues, exceeding common expenses,
collected by a association is Answer: Common Surplus
,● A share of the association's funds, required to pay common expenses is
Answer: an Assessment
● For residential unit sold by a developer, a contract of sale can be
voided for ______ days after it has been made Answer: 15 days
● In a co-op, what is the required time of posting and mailing notice of a
BUDGET meeting? Answer: 14 Days
● The board must reply to a written complaint from a unit owner within
Answer: 30 Days
● Covenants and restrictions establishing basic rights and
responsibilities of condominium are found in the Answer: Declaration
● What are the classes protected by the Fair Housing Act? Answer:
Race, color, national origin, religion, sex, familial status, and disability
● Where does a condominium association's board of directors file
written notice of a new registered agents name and registered office?
Answer: Department of State
,● Agenda and notice requirements for membership meetings are found
in the homeowner's association's Answer: Bylaws
● An association should keep financial and accounting records for
Answer: 7 years
● What does the Americans with Disabilities Act require of employers?
Answer: To make reasonable accommodations for qualified (disabled)
individuals.
● Within how many days after executing a contract for purchase of a
timeshare period can the purchaser cancel the contract without penalty
or obligation? Answer: 10 days
● A resident in a condominium or cooperative is entitled to vote if he/she
Answer: Is a record owner
● Any amendment to the condominium bylaws becomes effective only
after Answer: it is recorded in the public records of the county
● A limited proxy in condominium is a document that is used for
Answer: a specific voting purpose
● Which document establishes the date and time of the annual meeting?
Answer: The bylaws
, ● Which type of relationship exists between the board of directors and
the members of the association? Answer: Fiduciary
● In a condominium association, a director can be recalled to the board
by ____________ of the voting interests. Answer: Majority (50% + 1)
*Special meeting to recall board member can be called by 10% of voting
interests*
● Unless approved by 2/3 of the owners casting a vote in the election,
what is the maximum number of consecutive years a condo board
member may serve on the board? Answer: 8 Years
● Association members have the right to speak at board meetings...
Answer: only in regard to the designated items on the meeting agenda
● In order to be valid, a proxy must be... Answer: dated and signed by
the authorized person
● What document describes the date and time of a meeting, the issues
that were discussed and the results of any votes? Answer: The Meeting
Minutes
● Condominium associations are not permitted to have ________
committees. Answer: election nominating
GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS VERIFIED
● The original corporate structure of a condominium association is
established in the Answer: Articles of Incorporation
● A claim of Lien on a condo unit for delinquent assessments is in effect
from the time of recording for a period of Answer: 12 Months
● The process for obtaining a community association manager's license,
renewal provisions and standards of professional conduct us set forth in
the Answer: Florida Administrative Code & Chapter 468 Part VIII
● In the event of a conflict, the hierarchy of documents is the Answer: 1)
Declaration
2) Articles of Incorporation
3) Bylaws
4) Rules & Regulations
● The amount of all receipts and revenues, exceeding common expenses,
collected by a association is Answer: Common Surplus
,● A share of the association's funds, required to pay common expenses is
Answer: an Assessment
● For residential unit sold by a developer, a contract of sale can be
voided for ______ days after it has been made Answer: 15 days
● In a co-op, what is the required time of posting and mailing notice of a
BUDGET meeting? Answer: 14 Days
● The board must reply to a written complaint from a unit owner within
Answer: 30 Days
● Covenants and restrictions establishing basic rights and
responsibilities of condominium are found in the Answer: Declaration
● What are the classes protected by the Fair Housing Act? Answer:
Race, color, national origin, religion, sex, familial status, and disability
● Where does a condominium association's board of directors file
written notice of a new registered agents name and registered office?
Answer: Department of State
,● Agenda and notice requirements for membership meetings are found
in the homeowner's association's Answer: Bylaws
● An association should keep financial and accounting records for
Answer: 7 years
● What does the Americans with Disabilities Act require of employers?
Answer: To make reasonable accommodations for qualified (disabled)
individuals.
● Within how many days after executing a contract for purchase of a
timeshare period can the purchaser cancel the contract without penalty
or obligation? Answer: 10 days
● A resident in a condominium or cooperative is entitled to vote if he/she
Answer: Is a record owner
● Any amendment to the condominium bylaws becomes effective only
after Answer: it is recorded in the public records of the county
● A limited proxy in condominium is a document that is used for
Answer: a specific voting purpose
● Which document establishes the date and time of the annual meeting?
Answer: The bylaws
, ● Which type of relationship exists between the board of directors and
the members of the association? Answer: Fiduciary
● In a condominium association, a director can be recalled to the board
by ____________ of the voting interests. Answer: Majority (50% + 1)
*Special meeting to recall board member can be called by 10% of voting
interests*
● Unless approved by 2/3 of the owners casting a vote in the election,
what is the maximum number of consecutive years a condo board
member may serve on the board? Answer: 8 Years
● Association members have the right to speak at board meetings...
Answer: only in regard to the designated items on the meeting agenda
● In order to be valid, a proxy must be... Answer: dated and signed by
the authorized person
● What document describes the date and time of a meeting, the issues
that were discussed and the results of any votes? Answer: The Meeting
Minutes
● Condominium associations are not permitted to have ________
committees. Answer: election nominating
