FL CAM License Exam Fall 2024 Questions and Answers Solved 100%

FL CAM License Exam Fall 2024 Questions and Answers Solved 100% 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - answerB. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the right to buy, sell or lease real property. Under the condo and co-op laws _____, condos and coops have the specific authority to acquire title. A. 617 / 718 & 719 B. 623 / 707 & 708 C. 621 / 718 & 719 D. 607 / 718 & 719 - answerD. 607 / 718 & 719 FS 607 is General Corporate Law, FS 718 is condominiums, and FS 719 is cooperatives. 3. A person doing the following for remuneration must have a license. A. Posts notices for meetings and chairs committee meetings B. Prepares budgets and financial statements. C. Supervises maintenance. D. All of the above. - answerD. All of the above. A person who provides the following services for compensation must be licensed by DBPR Disburse funds Prepare budgets and/or financial reports Notice or conduct meetings Coordinate maintenance or other day-to-day services involving the operation of the association 4. Application for renewal of a CAM license shall be postmarked by ___________ . If renewal application is postmarked after ____________ of the renewal year, the license shall be deemed expired. A. September 30, September 30 B. October 31, October 31 C. September 30, October 31 D. December 31, January 1 - answerC. September 30, October 31 Renewal applications shall be postmarked on or before September 30 each even year. If the renewal application is postmarked after October 31, that license is deemed expired. 5. Restrictive covenants that run with the land as permanent restrictions remain in effect until ________. A. The majority of the owners vote otherwise B. All of the owners agree C. The developer cancels them D. The community is terminated - answerD. The community is terminated When you purchase, you know that these covenants exist and will continue to exist for the life of the condominium or parcel and upon resale, the next owner inherits the same covenants. This is called running with the land. 6. The Cooperative documents must contain all of following except ________. A. Documentation of each owner B. Identification by unit number/letter C. Recognition of owner D. Definition of the grounds lease - answerB. Identification by unit number/letter Under Cooperative law, the co-op documents include the Articles of Incorporation and By-Laws, a definition of the grounds lease, the owner's share and membership in the co-op and title or right to use of a unit. 7. The ______ creates the association and the ______ creates the condominium. A. Declaration of Condominium / Articles of Incorporation B. By-Laws / Declaration C. Articles of Incorporation / Declaration D. Articles of Incorporation / Bylaws - answerC. Articles