FL CAM LICENSE Exam questions and answers 2024(graded A+)

Florida Condominium Law is contained in which Chapter of the Florida Statutes? 718 Minutes of meeting of the BOD must be maintained for: 7 years Emergency powers of a condominium board, if a state of emergency has been declared, include: 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: One year after claim of lien was recorded With respect to a condominium association, which of the following statements is true: 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: Purpose of the meeting, place, date and time A co-op association's reserves do not generally include an amount for: Flood insurance premiums of $13,000 Condominium owners own the condominium parcel and what type of interest in the common elements? Undivided A claim of lien against a condominium parcel must include: 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? A voting certificate The least used entity of association management is: Self-Management Condominium unit owners, other than the developer, are entitled to elect not less than a majority of the board when? Three years after 50% of the units have been conveyed to the owners Certain disputes between a condominium owner and the association require arbitration as the first remedy; a dispute not requiring arbitration is one pertaining to: Fees and assessments The owners of a condominium must receive how much a notice of a budget meeting? 14 days The concept of fairness in rules enforcement that results in forfeiture of the enforcement right is: Equitable estoppel The two principal types of property insurance are: Named peril and all risks The condominium is created by the: Declaration of Condominium Directors cannot vote by: Proxy Can a condominium manager spray insecticide in and on the common areas of a condominium if a unit owner asks? Not unless he is appropriately licensed by the Florida Department of Agriculture and Consumer Services For purposes of Chapter 718 Florida Statutes, "Reserves" means: Any funds other than operating funds, that are restricted for deferred maintenance and capital expenditures Which of the following statements concerning towing is true? The notice must provide the name and current telephone number of the person or firm towing the vehicle Pursuant to Chapters 718 and 720 Florida statutes, how much notice is generally required for a special or annual meeting? 14 days Property taxes on the common property of an association are assessed against: The individual owners The Turnover Audit required by the Florida Condominium Act shall: Cover a period beginning with the date of incorporation of the association, or from the end of the fiscal period covered by the last audit if all fiscal periods have been audited, and ending with the date of transfer of association control to the unit owners other than the developer Notice of an annual meeting usually does not contain: Listing of social events Within how many days after a homeowners association receives an estoppel request does the association have to comply? 10 days A condominium association is preparing ballots for the upcoming election of unit owners to its board of directors, which of the following is true? The written ballot shall indicate in alphabetical order by surname each and every unit owner or other eligible person who desires to be a candidate for the board of directors and who complied with all applicable rules and procedures for candidacy Appurtenances of condominium unit ownership may include: An undivided share of the common elements Florida not-for-profit corporations are chartered in accordance with which chapter of the Florida Statutes? 617 In a condominium of more than 500 units, the developer is entitled to elect at least one member of the board of directors as long as he holds at least what percentage of the units? 2% At the request of a unit owner, the Board of Directors of Chapter 718 Florida Statutes must deliver a Certificate of Status of Assessments within: 10 days Condominium Association assessments must be paid at least: Quarterly