CAM

FL CAM License Exam Questions And Correct nswers, Fall 2023. Complete Verified Solution. 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 B. 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....

The documents of ABC condominium Association do not require reserves the proposed budget - Answer- Must at a minimum include statutory reserves All of the following categories of expenditures and required to be included in a condominium budget Except - Answer- Professional fees Verdona oaks community is compromised of two low raises each with an association two towers with one association and 10 villas and one association. How many total associations are located in Verdona Oaks - Answer- 5...

The Delton Beach Condo, with 400 units, has a budget of 2.5 million. It also has $3M reserves. a. The ass must maintain a Fidelity Bond of $5.5M. b. The ass must hire a CAM. c. The ass must have an annual audit. d. The ass must have at least 5 directors on the board. - Answer- c. The ass must have an annual audit. Condos with revenues of $500K or ore must have an annual audit, unless waived by a majority of members in a duly called meeting. Members may not waive more than 3 consecutive ye...