Exam (elaborations)
FLORIDA PRACTICE CAM EXAM 1 Questions & answers
- Course
- Institution
FLORIDA PRACTICE CAM EXAM 1 Questions & answers
[Show more]
Seller
Follow
EXAMQA
Reviews received
Content preview
FLORIDA PRACTICE CAM EXAM 1A 14-day notice of a membership meeting of Valley Crest Condominium was
given for the specific purpose of amending the Bylaws. A copy of the
proposed changes was attached to the notice. During the meeting, motions
were made and seconded that changed the wording of the amendments, a
✅✅
vote was taken, and the changed amendments were approved by 83% of the
membership. Which applies? - -The vote is invalid. Another meeting
must be properly noticed with the new changes attached.
A change in the Bylaws of Cleaner Times Cooperative was proposed to its
shareholders. The notice containing the proposed amendment stated:Article
B.1 currently reads as follows: No pets are allowed within any cooperative unit
or any cooperative common areas. The amendment to Article B.1 is as
✅✅
follows: One cat or one dog weighing less than 25 pounds is permitted within
any cooperative unit. Which applies? - -The amendment is not valid
since it is not stated in proper form with new words underlined and eliminated
words stricken through with hyphens.
A cooperative association with 52 units that has annual revenues totaling
✅✅
$155,000 must provide which type financial statement to its membership? -
-Compiled
A knowledgeable and informed purchaser of a condominium unit would know
to look at which document(s) to determine his percentage of the total
✅✅
assessments and to know the amount specifically due for the coming year for
the unit he wishes to purchase. - -II. Declaration of Condominium and
Budget.
A resident seeking to sue the board of directors of his condominium
association may be required to submit to a process called Alternative Dispute
✅✅
Resolution before he can proceed to court if his dispute includes which of the
following: - -Failure to allow him to inspect the association records
A time share condominium will be making its report to the Division of Florida
Condominiums, Timeshares, and Mobile Homes and remitting the fee for its
✅✅
200 units that sell 50 weeks per unit. How much is the fee to be remitted? -
-$ 20,000
, Absent any other provisions in the governing documents, the unit owners may
✅✅
elect at least one representative to the board of directors when the developer
has sold ________ . - -At least 15 percent of the units
Acme Pest Control has been hired by Johnny On The Spot Condominium
Association to perform routine pest control inside the units. Most owners live
out of state or out of the country and won't be home every month when Acme
✅✅
Pest Control wants to perform their duties. Which applies? -
-Management has the right to enter a unit during reasonable times for
maintenance or repair. Management also has the right to enter a unit at any
time during an emergency.
After the bookkeeper embezzled funds from the association, Polly Smith
brought action against the board of directors because she thought the board
violated its fiduciary responsibility when it failed to perform a criminal
✅✅
background check on the bookkeeper. Which insurance policy will the board of
directors depend on to cover them in this lawsuit? - -The Directors' and
Officers' Liability policy
After the vote, board member, Correct Colleen, wants to add a clarifying
✅✅
phrase to a motion that has been voted on and approved. Which applies? -
-After the final vote, this action is out of order.
✅✅
After turnover (transition), the developer is obligated to the owners to: -
-Honor the statutory warranties
At a regular board meeting of the Keep 'Em Quiet Homeowners' Association,
Miss Dorothy, owner of Unit 2929, asked to be recognized so she could make
✅✅
comments about an agenda item the board was going to discuss. Her request
to speak was denied. Which applies? - -This action was unlawful
because all owners of a homeowners' association may attend and speak on
specified agenda items at all board of directors' meetings.
Brenda Broke lost her job and her son has been in the hospital for six weeks
with no insurance. As a result, she has not paid her assessments for three
✅✅
months. What action, if any, may/must the board of directors of Hop to It
Condominiums consider? - -The board can exercise the statutory
suspension of use rights and deactivate her pool gate pass.
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 EXAMQA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77016 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now