FL Community Association Management Exam

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 Coop - areas HOA - property Which Florida Statute addresses CAM Licensure Law and Natural Person & Management Company - Answer- FS 468 - part VIII Under what 2 conditions is a CAM license is required in Florida? - Answer- 1. When receiving compensation 2. When association has over 10 units and/or a budget over $100, 000 What do the 3 governing Documents define? - Answer- 1. Declaration - ownership 2. Articles of Incorporation - structure (creates assoc usually not for profit - FS 617) 3. By Laws - day to day operations (rules and regulations) The Declaration is FILED with the - Answer- Clerk of Court (county) in county/counties where structure is located CAM