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Which of the following is a reason for a community association board directors to decide to obtain professional assistance - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions Florida law requires that an applicant for a CAM license meet all except which of the following qualifications - ANSWER-Be a full time resident of Florida Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his CAM licen...

Does a condo owner who manages his own community on a part-time basis need a real estate license? - ANSWER-No Does a CPA who collects association assessments need a real estate license? - ANSWER-No Does a person working for a management company and managing only one association need a real estate license? - ANSWER-Yes Does a developer's employee who manages all of the developer's communities until turnover need a real estate license? - ANSWER-No Does a homeowner hired by two commu...

Which of the following is a reason for a community association board of directors to decide to obtain professional assistance? - ANSWER-A. Florida statues require that all associations with at least 100 units utilize professional management, unless an officer is a trained manager. B. The board prefers to have professionals make policy decisions for the association. C. The board and officers do not have the necessary expertise or time to carry out complex management functions. D. The ma...

Which of the following is a reason for a community association board of directors to decide to obtain a professional assistance? - ANSWER-The board and officers do not have the necessary expertise or time to carry out complex management functions. Florida law requires that an applicant for a CAM license meet all except which of the following qualifications? - ANSWER-Be a full-time resident of Florida Johnny Devine is seeking employment as a CAM. He has been asked to provide a copy of his ...

How long must an association maintain financial and accounting records? A. one calendar year B. eighteen months C. seven years D. indefinitely - ANSWER-C. 7 Years How soon after the end of the fiscal year must the association prepare and complete a financial report? A. Within 21 days B. Within 30 days C. Within 90 days D. Within 120 days - ANSWER-C.) Within 90 days How often does a community association have to file a financial report with the Florida Department of State? A. Mont...

Community Association is both - ANSWER-is both a a community and a business. Community associations are established with principles similar to those of government and good business practices. Community Association function - ANSWER-is to preserve, maintain, and enhance the property, association, and assets. A community association serves - ANSWER-as the management entity. Members elect the board of directors to operate and govern the community. Rights are responsibilities are govern by Flo...

If employees claim exemption from income tax withholding, they must give the employer a new Form W-4 each __________. Month Year 2 years 3 years - ANSWER-Year. If an employee claims exemption from income tax withholding, this must be indicated on their signed W-4 upon starting work and the W-4 must be resubmitted annually. REFERENCE: MODULE 1: LESSON 1.7 | Employment Laws. The books and records of the timeshare plan shall be considered "reasonably available" within __________ after ...

Who serves as the management entity? - ANSWER-A community association Florida Statutes organize each community association as a ___________________ - ANSWER-Corporation Powers of community associations - ANSWER-Budgeting for the maintenance and operation of the property, association and assets Collecting the necessary funds to carry out its duties Entering into contracts, hiring employees, and taking other measures as needed to meet its objectives Can the board ever delegate its r...

The language in the Declaration of Condominium that creates a commitment, restriction, or contract between the association and the unit owners is called - ANSWER-Covenants Under Chapter 718.1255, those eligible to petition for arbitration are: - ANSWER-An owner of a condominium unit Tom Tucker decides he can manage his association better than the management company and at significantly less cost. The board of directors of the 25 homes comprising the Too Cheap Homeowners' Association deci...

4 Types of Community Associations - ANSWER-1. Condo - FS 718 2. Coop - FS 719 3. HOA - FS 720 4. Timeshare - FS 721 NOT Mobile Home 723 Which type of living condition is NOT a community association? - ANSWER-Mobile Home - FS 723 Documents include (3) - ANSWER-1. Declaration 2. Articles 3. By-Laws A CAM license is NOT required to manage which type of property? - ANSWER-Commercial How is common property referred to in a condo, coop, HOA? - ANSWER-Condo - elements C...