FL CAM LICENSE Exam Questions and Solved Answers

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 after claim of lien was recorded With respect to a condominium association, which of the following statements is true: - ANSWER-The declaration may provided that certain limited common elements shall be maintained by those entitled to use the limited common elements. Notice of the Association annual meeting must contain: - ANSWER-Purpose of the meeting, place, date and time A co-op association's reserves do not generally include an amount for: - ANSWER-Flood insurance premiums of $13,000 Condominium owners own the condominium parcel and what type of interest in the common elements? - ANSWER-Undivided A claim of lien against a condominium parcel must include: - ANSWER-The due date, the name of unit owners, the amount due What designates the person who will direct votes for the owners of a corporately owned condominium unit? - ANSWER-A voting certificate The least used entity of association management is: - ANSWER-Self-Management