Florida CAM 2023 Exam With 100% Correct Answers, Exams of Advanced Education

Download Florida CAM 2023 Exam With 100% Correct Answers and more Exams Advanced Education in PDF only on Docsity! Florida CAM 2023 Exam With 100% Correct Answers If a declaration of condominium or bylaws so provide, an association may require a security deposit from prospective lessees up to the amount of - Correct Answer-1 month's rent A homeowner's association board must obtain competitive bids for any contract which will cost in excess of - Correct Answer-10% of the annual budget including reserves Employees with the community association are usually those workers where the association pays or deducts for - Correct Answer-social security tax, unemployment compensation wages, and federal withholding taxes The ______ is an attorney appointed by the governor who acts as a liaison between the division, unit owners, Board of Directors, Board Members, community association managers, and other affected parties. - Correct Answer-Ombudsman The Division of Condominiums, Timeshares and Mobile homes is partially funded by - Correct Answer-fees, fines, penalties, and court costs For Towning zones, the words "tow-away-zone" on the sign must be at least _______ inches high - Correct Answer-4 Association employees can perform pesticide applications to - Correct Answer-common areas ONLY. It is acceptable for an owner to spray their own unit. However, if this is anyone other than the owner, this person/contractor must be licensed by the state If an association has a pool and has more than ________ units, or operates a public pool, it must maintain proper licensing. - Correct Answer-32 An elevator's certificate of operation is valid for - Correct Answer-up to 2 years An elevator must display a certificate of operation and - Correct Answer-a no-smoking sign Are air condition units and heating equipment covered in the Association Fire and Casualty Property Insurance? - Correct Answer-Yes, for hazard and casualty. but not for normal maintenance and repair AN employer in Florida with one or more full-time or part-time employee must have - Correct Answer-Worker's compensation Associations may levy fines of up to ______ for a single violation - Correct Answer-$100 Non-binding arbitration, binding arbitration, and pre-suit mediation requirements are all examples of - Correct Answer-alternative dispute resolution In condominium association, disputes about the levy of a fee or assessment must be resolved by - Correct Answer-a state court If a timeshare owner fails to pay the assessments due, the association may prohibit the owner from - Correct Answer-occupying or exchanging his/her interest in the unit In a community association, the certification of operation for an elevator must be - Correct Answer-conspicuously posted in the elevator A director and officers liability insurance policy ideally, but not necessarily, includes the - Correct Answer-community association manager For a cooperative association, a fidelity bond for each person who is required to be bonded must be equal to - Correct Answer-the maximum total amount of money in the association account CPIC helps associations with connot - Correct Answer-get insurance on the private market A directors and officer's liability insurance policy covers - Correct Answer-former and current officers and directors Which term defines the dollar amount an association or unit owner has to pay before and insurance policy will pay for covered losses? - Correct Answer-deductible _______ insurance offers permanent coverage for incidents during the policy period - Correct Answer-occurance A ________ insures the owner and laborers of a construction project - Correct Answer- performance bond Who is responsible for insuring appliances inside a unit? - Correct Answer-The unit owner When is flood insurance required for a community association - Correct Answer-When the property is located in a Special Flood Hazard Area (SFHA) The responsibility to protect the condominium association's assets through insurance lies with the - Correct Answer-Board of directors After handing over control, a developer must provide the members of an association with documents and records _________ - Correct Answer-within 90 days, and at the developer's own expense The first a second notices of an election must be sent ______ before an annual meeting - Correct Answer-60 days and 14 days A contract made by a developer prior to turnover of control to a condominium unit owners may be cancelled by a vote of - Correct Answer-75% of the voting interests in the condominium Three requirements for internet voting are: - Correct Answer-Written consent from the unit owner, a method of authenticating identity, and a method of ensuring sececy. If a unit or home is owned by more than one person, how many votes are they entitled to? - Correct Answer-One vote Condominium associations are not permitted to have _________ committees. - Correct Answer-Election nominating Any director, officer or manager, who knowingly solicits or accepts anything of value from any person providing or proposing to provide goods or services to the condominium is subject to - Correct Answer-a criminal setence In a condominium association, a committee meeting is open to the public, unless... - Correct Answer-The meeting is about personal or sensitive legal matters In order to be valid, a proxy must be - Correct Answer-dated and signed by the authorized person What document describes the date and time of a meeting, the issues that were discussed and the results of any votes? - Correct Answer-The minutes In a condominium association, a director can be recalled to the board by ________ of the voting interest - Correct Answer-a majority (50% +1) (a special meeting of the unit owners to recall a member or members of the board may be called by 10% of the voting interests) Unless provided by two-thirds of the owners casting a vote in the election, what is the maximum number of consecutive years a condominium board member may serve? - Correct Answer-8 years Association members have the right to speak at board meeting - Correct Answer-only in regard to the designated items on the meeting agenda Which document established the date and time of the annual meeting? - Correct Answer-The bylaws Which type of relationship exists between the board of directors and the members of the association? - Correct Answer-Fiduciary Any amendment to the condominium bylaws become effective only after - Correct Answer-it is recorded in the public records of the county A limited proxy in condominium is a document that is used for - Correct Answer-a specific voting purpose What does the Americans With Disabilities Act require of employers? - Correct Answer- To make reasonable accommodations for qualified individuals Within how many days after executing a contract for purchase of a timeshare period can the purchaser cancel the contract without penalty or obligation? - Correct Answer-10 Days A resident in a condominium or cooperative is entitled to vote if he/she - Correct Answer-is a record owner Where does a condominium associations board of directors file written notice of a new registered agent's name and registered office? - Correct Answer-Department of State Agenda and notice requirements for membership meetings are found in the homeowner's association - Correct Answer-bylaws An association should keep financial and accounting records for - Correct Answer-7 years Covenants and restrictions establishing the basic rights and responsibilities of condominium are found in the - Correct Answer-declaration What are the classes protected by the Fair Housing Act - Correct Answer-Race, color, national origin, religion, sex, familial status and disability For residential units sold by a developer, a contract of sale can be voided for _____ days after is has been made. - Correct Answer-15 Days In a cooperative, what is the required time of posting and mailing notice of a budget meeting - Correct Answer-14 days The board must reply to a written complaint from a unit owner wihin - Correct Answer-30 days The amount of all receipts and revenues, exceeding common expenses., collected by a association is - Correct Answer-common surplus A share of the association's funds, required to pay common expenses is - Correct Answer-an assessment A claim of lien on a condominium unit for delinquent assessments is in effect from the time of recording for a period of - Correct Answer-12 months The process for obtaining a community association manager's license, renewal provisions and standards of professional conduct is set forth in the - Correct Answer- Florida Administrative Code and Chapter 468, Part VIII In the event of a conflict, the hierarchy of documents is the - Correct Answer-1. Declaration 2. Articles of Incorporation 3. Bylaws 4. Rules and Regualtions The original corporate structure of a condominium association is established in the - Correct Answer-Articles or incorporation The rights and obligations inherent in the ownership of a unit in a condominium are - Correct Answer-Appurtenances to the unit Florida condominium law provides that proxies are good at the meeting for which the proxy was given and any adjournment, if the meeting is held within how many days of the initial meeting - Correct Answer-90 days