Community association manager Test | 100 Questions with 100% Correct Answers

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 - True Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the purchase - True Not for-profit corporations are exempt from federal income taxes - False A condominium and a hospital may join together to create a self insurance pool for windstorm insurance, if approved by the comptroller - False All community associations have identical legal structures - False The association must mail a notice for a regular board of directors meeting no less than 48 hours in advance - False If a timeshare property is a condominium, it must comply only with the condominium act - False The Florida fair housing act prohibits discrimination on the basis of handicap - True Compliance with the construction lien law is very technical and can have an impact on title to property. Therefore, the board should always consult with the manager regarding mean issues