FL CAM License Study Guide With Complete And Verified Solutions 2024|2025

FL CAM License Study Guide With Complete And Verified Solutions 2024|2025 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 Correct Answer 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. 617 / 718 & 719 B. 623 / 707 & 708 C. 621 / 718 & 719 D. 607 / 718 & 719 Correct Answer D. 607 / 718 & 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. Correct Answer 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