Page | 1
GOLD COAST CAM LICENSE EXAM 2025|
BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
What is a legally binding agreement? - correct answer - It is structured by
formal, legal documents that define property rights, rules and restrictions
It grants rights and/or imposes liabilities and responsibilities on the
community association and members
It provides governance, business, and communal aspects of administering,
maintaining and enhancing the property
Could also be considered a "contract"
What is a legally binding agreement referred to in certain community
associations? - correct answer - A covenant
What is a community association? - correct answer - Real or personal
property, owned by two or more entities, with a legally binding agreement
to share responsibility for of maintenance and administering and
maintaining the property and its assets with specific rights granted to the
members
, Page | 2
What is F.S.? - correct answer - Florida Statutes - provides a definition of
and requirements for each type of community association
What is F.A.C.? - correct answer - Florida Administrative Code - provides
additional guidance based on the Florida Statutes
Also known as an official compilation of rules and regulations of Florida
regulatory agencies
What are members of a community association responsible for? - correct
answer - Members in a community association have a responsibility to
occupy, use and maintain the property in accordance with the statutes and
the legal documents
What are the requirements for a community association? - correct answer -
- membership is mandatory
- members have the right to vote (w/ exceptions)
- an unpaid assessment can become a lien on a member's property
What are the 5 community associations governed by the Florida Statutes? -
correct answer - F.S. 718 - condominums (also known as the condominium
act) (F.A.C. - 61B-14 through 24, 45 & 50)
, Page | 3
F.S. 719 - cooperative (cooperative act) (F.A.C. 61B-75 through 79, 45, &
50)
F.S. 720 - HOA (homeowners' association act) (F.A.C. 61B-80, 81, & 85)
F.S. 721 - timeshare (florida vacation plan & timesharing act) (F.A.C. 61B-
37 through 41)
F.S. 723 - mobile homes (Mobile Home Act)
What terms can be used interchangeably with "owner"? - correct answer - -
unit owner
- parcel owner
- shareholder
What is a condominium? - correct answer - A form of ownership of real
property created pursuant to statutes, which is comprised entirely of units,
each of which may be owned by one or more persons, and in which there
is, appurtenant to each unit, an undivided share in common elements
What does an undivided share in the common elements mean? - correct
answer - That each owner owns a proportionate share of the common
property that cannot be transferred or sold separately from the owner's unit.
It therefore cannot be divided from the owners shares in the common
property
What is a condominium unit? - correct answer - A unit is air space including
wall, ceilings, and floor coverings or finishes, cabinets and appliances.
, Page | 4
The members received a deed to the unit.
What is a common property/area? - correct answer - Common
property/area is often referred to as "common elements"; all members own
the common property in undivided interest, which must be defined in the
association documents.
What is a cooperative? - correct answer - In a cooperative, a corporation
owns all the property, and each member receives shares and has a
proprietary right to occupy a specific unit under a lease
Members are referred to in statute as shareholders or owners
A unit in a cooperative association can be referred to as what? - correct
answer - A cooperative parcel
What is cooperative common property? - correct answer - Includes the
lands, leaseholds and personal property owned by a cooperative
association
What is a HOA? - correct answer - Homeowners Association - each
member owns their unit, house or lot (referred to in statutes as a parcel),
may use the common elements, and shares in the cost of maintaining the
GOLD COAST CAM LICENSE EXAM 2025|
BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
What is a legally binding agreement? - correct answer - It is structured by
formal, legal documents that define property rights, rules and restrictions
It grants rights and/or imposes liabilities and responsibilities on the
community association and members
It provides governance, business, and communal aspects of administering,
maintaining and enhancing the property
Could also be considered a "contract"
What is a legally binding agreement referred to in certain community
associations? - correct answer - A covenant
What is a community association? - correct answer - Real or personal
property, owned by two or more entities, with a legally binding agreement
to share responsibility for of maintenance and administering and
maintaining the property and its assets with specific rights granted to the
members
, Page | 2
What is F.S.? - correct answer - Florida Statutes - provides a definition of
and requirements for each type of community association
What is F.A.C.? - correct answer - Florida Administrative Code - provides
additional guidance based on the Florida Statutes
Also known as an official compilation of rules and regulations of Florida
regulatory agencies
What are members of a community association responsible for? - correct
answer - Members in a community association have a responsibility to
occupy, use and maintain the property in accordance with the statutes and
the legal documents
What are the requirements for a community association? - correct answer -
- membership is mandatory
- members have the right to vote (w/ exceptions)
- an unpaid assessment can become a lien on a member's property
What are the 5 community associations governed by the Florida Statutes? -
correct answer - F.S. 718 - condominums (also known as the condominium
act) (F.A.C. - 61B-14 through 24, 45 & 50)
, Page | 3
F.S. 719 - cooperative (cooperative act) (F.A.C. 61B-75 through 79, 45, &
50)
F.S. 720 - HOA (homeowners' association act) (F.A.C. 61B-80, 81, & 85)
F.S. 721 - timeshare (florida vacation plan & timesharing act) (F.A.C. 61B-
37 through 41)
F.S. 723 - mobile homes (Mobile Home Act)
What terms can be used interchangeably with "owner"? - correct answer - -
unit owner
- parcel owner
- shareholder
What is a condominium? - correct answer - A form of ownership of real
property created pursuant to statutes, which is comprised entirely of units,
each of which may be owned by one or more persons, and in which there
is, appurtenant to each unit, an undivided share in common elements
What does an undivided share in the common elements mean? - correct
answer - That each owner owns a proportionate share of the common
property that cannot be transferred or sold separately from the owner's unit.
It therefore cannot be divided from the owners shares in the common
property
What is a condominium unit? - correct answer - A unit is air space including
wall, ceilings, and floor coverings or finishes, cabinets and appliances.
, Page | 4
The members received a deed to the unit.
What is a common property/area? - correct answer - Common
property/area is often referred to as "common elements"; all members own
the common property in undivided interest, which must be defined in the
association documents.
What is a cooperative? - correct answer - In a cooperative, a corporation
owns all the property, and each member receives shares and has a
proprietary right to occupy a specific unit under a lease
Members are referred to in statute as shareholders or owners
A unit in a cooperative association can be referred to as what? - correct
answer - A cooperative parcel
What is cooperative common property? - correct answer - Includes the
lands, leaseholds and personal property owned by a cooperative
association
What is a HOA? - correct answer - Homeowners Association - each
member owns their unit, house or lot (referred to in statutes as a parcel),
may use the common elements, and shares in the cost of maintaining the
