Florida CAM LICENSE Exam Latest Update Exam 260 Questions and 100% Verified CORRECT ANSWER s Guaranteed A+
Question 1: A Community Association is generally
defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration
CORRECT ANSWER : True
Question 2: Purchasers of a timeshare plan have a ten day
contract rescission period in which to cancel the purchase
CORRECT ANSWER : True
Question 3: The Florida Fair Housing Act prohibits
discrimination on the basis of handicap
CORRECT ANSWER : True
Question 4: A valid Declaration of Condominium must
contain easements for ingress and egress to all units and the common elements
CORRECT ANSWER : True
Question 5: Compliance with the Construction Lien Law
is very technical and can have an impact on title to property. Therefore the board should always consult with the manager regarding lien issues
CORRECT ANSWER : False. The board should consult
an attorney.
Question 6: Articles of Incorporation are also known as
the
- Corporate Charter
- Bylaws
- Declaration of Condominium
CORRECT ANSWER : A) Corporate Charter
Question 7: What document establishes the power and
authority of the community Association, establishes the corporate entity that is responsible for management, maintenance and operation of the community association, and is based in corporate law?
- Bylaws
- Articles of Incorporation (Corporate Charter)
- Declaration of Condominium
CORRECT ANSWER : B) Articles of Incorporation
(Corporate Charter)
Question 8: Florida Not for Profit Corporate Act is found
in which statute?
A) FS 617
B) FS 607
C) FS 718
CORRECT ANSWER : A) FS 617
Question 9: Florida Corporate Act is found in which
statute?
A) FS 617
B) FS 607
C) FS 718
CORRECT ANSWER : B) FS 607
Question 10: Which statute grants the following powers
to a community association: Conducting business and
Community Association affairs, Operating and managing the association property and assets, Suing and defending against actions, Lending money for association purposes,
Acquiring Property, Entering into contracts and purchasing items that are required for operations and maintenance, Incurring liabilities, Borrowing funds, Mortgaging community association properties?
A) FS 617
B) FS 607
C) FS 718
CORRECT ANSWER : A) FS 617
Question 11: Condominium Act is found in which
statute?
A) FS 617
B) FS 718
C) FS 719
CORRECT ANSWER : B) FS 718
Question 12: What is a condominium?
- Form of joint ownership of real property that
comprises: Exclusive ownership of each unit, Joint
undivided share of common elements, Required membership in the community association