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Community Association Manager Licensing Exam Study Guide Solutions
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Community Association Manager Licensing Exam Study Guide Solutions Community Association (Definition) - ANSWER-a residential homeowners' association in which membership is a condition of ownership (mandatory) of a unit in a planned unit development, or of a lot for a home or a mobile home, or o...

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  • November 18, 2024
  • 143
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • community association manager licensing exam study

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Community Association Manager
Licensing Exam Study Guide Solutions

Community Association (Definition) - ANSWER✔✔-a residential homeowners'

association in which membership is a condition of ownership (mandatory) of a unit in a

planned unit development, or of a lot for a home or a mobile home, or of a townhouse,

villa, condominium, cooperative, or other residential unit which is part of a residential

development scheme and which is authorized to impose a fee (assessment) which may

become a lien on the parcel.


Assessment - ANSWER✔✔-The amount of money a unit or parcel owner pays for their

share of the expenses of the community association. The statute allows association to

file an assessment lien against the unit or parcel if unpaid.


Condominium - ANSWER✔✔-that form of ownership of real property created pursuant

to this chapter (Section 718), which is comprised entirely of units that may be owned by

one or more persons, and in which there is, appurtenant to each unit, an undivided

share in common elements


What does a condo association own? What is deeded in the association's name? -

ANSWER✔✔-Nothing. NOTHING. The association is responsible for the insurance and

maintenance, but it has no deed in its name.

Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/143

,Who owns the common elements in a condominium association? - ANSWER✔✔-All the

owners own common elements jointly.


Cooperative (definition) - ANSWER✔✔-that form of ownership of real property

wherein legal title is vested in a corporation or other entity and the beneficial use is

evidenced by an ownership interest in the association and a lease or other muniment of

title or possession granted by the association as the owner of all the cooperative

property.


In a cooperative, how many deeds are there? - ANSWER✔✔-There is one deed. Title to

all the real estate is owned by the corporation. Each shareholder receives a

Shareholder's Certificate as evidence of their capital contribution to the corporation.


In what type of community association would an owner have a shareholder's

certificate? - ANSWER✔✔-Cooperative. Owner has a shareholder's certificate if they are

part of the cooperative.


Shareholder's Certificate (definition) - ANSWER✔✔-What is the evidence of an owner's

capital contribution to the cooperative corporation. This entitles the owner to sign a

Proprietary Lease with the corporation for the exclusive use of the air space for their

unit or pad.


Proprietary Lease (definition) - ANSWER✔✔-gives an owner (in a coop) the exclusive

use of the air space for their unit or pad.




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/143

,Homeowners' Association (definition) - ANSWER✔✔-a Florida corporation responsible

for the operation of a community or a mobile home subdivision in which the voting

membership is made up of parcel owners or their agents, or a combination thereof, and

in which membership is a mandatory condition of parcel ownership, and which is

authorized to impose assessments that, if unpaid, may become a lien on the parcel. The

term "homeowners' association" does not include a community development district

(CDD) or other similar taxing district created pursuant to statute.


Who owns deeds in an HOA? - ANSWER✔✔-Each parcel owner has a deed to their

individual parcel. The corporation has common areas or property deeded in the

corporation's name.


Who owns the dirt on a parcel in an HOA? - ANSWER✔✔-The homeowner owns the

dirt on THEIR parcel. HOA owns the dirt on COMMON parcels.


Chapter 607 (definition) - ANSWER✔✔-Florida For Profit Corporate Act that governs

For Profit corporations


Chapter 617 (definition) - ANSWER✔✔-Florida Not For Profit Corporate Act that

governs Not For Profit corporations


Statute 718 - ANSWER✔✔-Governs Condominiums


Statute 719 - ANSWER✔✔-Governs Cooperatives


Statute 720 - ANSWER✔✔-Governs Homeowners' Associations


Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 3/143

, Statute 721 - ANSWER✔✔-Governs Timeshare Plans


Common Elements (definition) - ANSWER✔✔-the portions of the condominium

property not included in the units


Examples of Common Elements - ANSWER✔✔-drywall, plumbing, electrical inside the

walls, clubhouse, pool, streets, etc.


In which type of corporation (community association) would the term "common

elements" be used? - ANSWER✔✔-Condominium


Limited Common Elements (definition) - ANSWER✔✔-those common elements which

are reserved for the use of a certain unit or units to the exclusion of all other units (ie.

assigned parking space, private balcony, private elevator, etc.)


Examples of Limited Common Elements - ANSWER✔✔-balcony, private elevator, patio

connected to a unit, assigned parking space, storage unit, boat slip, etc.


Common Areas (definition) - ANSWER✔✔-the portions of the cooperative property not

included in the units (ie. clubhouse, pool, streets)


For what type of association is the term "Common Areas" used? - ANSWER✔✔-

Cooperative.


Limited Common Areas (definition) - ANSWER✔✔-those common areas which are

reserved for the use of a certain cooperative unit or units to the exclusion of other units

(ie. balcony, private elevator, patio connected to the unit, etc.)

Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 4/143

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