FL CAM License Exam Questions And Correct nswers, Fall 2023. Complete Verified Solution.
5 views 0 purchase
Course
CAM
Institution
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 co...
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.
2. Under the General Corporate Law _______, community associations have the
right to buy, sell or lease real property. Under the condo and co-op laws _____,
condos and coops have the specific authority to acquire title.
A. & 719
B. & 708
C. & 719
D. & 719
D. & 719
FS 607 is General Corporate Law, FS 718 is condominiums, and FS 719 is
cooperatives.
3. A person doing the following for remuneration must have a license.
A. Posts notices for meetings and chairs committee meetings
B. Prepares budgets and financial statements.
C. Supervises maintenance.
D. All of the above.
D. All of the above.
A person who provides the following services for compensation must be licensed by
DBPR
Disburse funds
Prepare budgets and/or financial reports
Notice or conduct meetings
Coordinate maintenance or other day-to-day services involving the operation of the
association
4. Application for renewal of a CAM license shall be postmarked by ___________ .
If renewal application is postmarked after ____________ of the renewal year, the
license shall be deemed expired.
A. September 30, September 30
B. October 31, October 31
,C. September 30, October 31
D. December 31, January 1
C. September 30, October 31
Renewal applications shall be postmarked on or before September 30 each even year.
If the renewal application is postmarked after October 31, that license is deemed
expired.
5. Restrictive covenants that run with the land as permanent restrictions remain
in effect until ________.
A. The majority of the owners vote otherwise
B. All of the owners agree
C. The developer cancels them
D. The community is terminated
D. The community is terminated
When you purchase, you know that these covenants exist and will continue to exist for
the life of the condominium or parcel and upon resale, the next owner inherits the same
covenants. This is called running with the land.
6. The Cooperative documents must contain all of following except ________.
A. Documentation of each owner
B. Identification by unit number/letter
C. Recognition of owner
D. Definition of the grounds lease
B. Identification by unit number/letter
Under Cooperative law, the co-op documents include the Articles of Incorporation and
By-Laws, a definition of the grounds lease, the owner's share and membership in the
co-op and title or right to use of a unit.
7. The ______ creates the association and the ______ creates the condominium.
A. Declaration of Condominium / Articles of Incorporation
B. By-Laws / Declaration
C. Articles of Incorporation / Declaration
D. Articles of Incorporation / Bylaws
C. Articles of Incorporation / Declaration
The Articles of Incorporation, also known as the Corporate Charter, are the documents
that create the association. The Condominium is established when the developer
records the Declaration of Condominium with the county clerk in the county seat of the
county in which the condominium is to be built.
8. What defines the membership and the voting rights of the Association?
A. Corporate Charter
B. Declaration of Condominium
C. By-Laws
D. Rules and Regulations
A. Corporate Charter
,The Articles of Incorporation, also known as the Corporate Charter, provide the
framework for the organization of the association and define its membership and the
voting rights of the members.
9. The ______ establish(es) the procedures for carrying out the day to day
responsibilities of the association.
A. Articles of Incorporation
B. Declaration of Condominium
C. By-laws
D. Rules and Regulations
C. By-laws
The By-Laws establish the procedures for carrying out the association's responsibilities
and clarify the day-to-day duties necessary to carry out the responsibilities of the
association.
10. If the governing documents of an association conflict, which of the following
is the proper order of priority?
A. By-laws, Declaration, Articles of Incorporation, Board Rules and Regulations
B. Declaration, Articles of Incorporation, By-laws, Board Rules & regulations
C. Articles of Incorporation, Declaration, By-laws, Board Rules and Regulations
D. Declaration, Board-approved Rules, Articles of Incorporation, By-laws
B. Declaration, Articles of Incorporation, By-laws, Board Rules & regulations
All of the documents should be consistent with each other. Their order of priority is:
Declaration of Condominium
Articles of Incorporation
By-Laws
Rules and Regulations
11. When we are talking about amending the documents, which of the following is
correct?
A. If proviso made and percentage stated, then that percent
B. If no proviso, then 100%
C. If proviso made but no percentage stated, then 66 2/3%
D. All of the above
D. All of the above
Each document must provide for procedures for amendment. If they do not, then they
can only be made with the approval of all of the owners. Usually documents provide for
the percentage of owners necessary to amend the document. If the documents provide
for amendment but do not state the percentage necessary then two-thirds of the owners
must agree to the amendment.
Summary:
If no proviso for amendment, then 100%
If proviso made but percentage not stated, then 66 2/3%
If proviso made and percentage stated, then that %
12. In a Chapter 720 Homeowners Association, which of the following is required
to amend the governing documents?
, A. A majority vote of the board of directors at a regular business meeting
B. A majority vote of all the voting interests in the association
C. A majority vote by the Board of Governors at an amendment meeting
D. Approval of 2/3 of the voting interests in the association
D. Approval of 2/3 of the voting interests in the association
HOA document amendments must be approved by two-thirds of the owners unless the
documents provide otherwise.
13. That property owned by the association for the use and benefit of its owners
is called _______.
A. limited common elements
B. condominium parcel
C. common elements
D. association property
D. association property
ASSOCIATION PROPERTY refers to the real or personal property leased, owned or
controlled by the association for the use of the members. This is different from common
elements which are jointly owned by the owners. Examples would be a leased parking
area, a golf cart used by management, or a popcorn machine in the clubhouse.
14. The portion of the community property shared by all of the owners and
members is _______.
A. Limited Common Elements
B. Association Property
C. Common Elements
D. All Easements
C. Common Elements
A COMMON ELEMENT is that property shared by all of the owners and members of the
community. Common elements are the portions of the condominium property not
included in the units. Examples are pools, parking lots, tennis courts, etc. The common
elements and the percentage of ownership are found in the Declaration of
Condominium. The common elements are owned by all of the owners.
15. The part of a condominium that is subject to exclusive use is called _______.
A. common elements
B. association property
C. a unit
D. easements
C. a unit
A UNIT is that part of the property reserved for the exclusive use of an owner. It may be
land, improvements, or land and improvements.
16. Common elements may be enlarged _________.
A. by a majority vote of the Board
B. only if the Association has the appropriate funds available
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.39. You're not tied to anything after your purchase.
