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CAM FOR THE STATE TE
PRACTICE
| Question | Answer |
|---|---|
| Absent any contrary provision regarding the manner of electing officers to a condominium association, who elects the officers? | The board |
| Accessory rights which are inherent in the ownership of the property in a condominium are ______________ . | All of the above... A. membership B. exclusive right to use common elements C. appurtenances |
| According to Florida Statutes Chapter 718, transition must occur within how many years of creation of the condominium? | 7 |
| Acme Homeowners Association has a board consisting of five members. How many board members are required to be present to have a quorum? | 3 |
| All meetings of the board must be open to __ except for meetings between the board and its attorney with respect to proposed or pending litigation where the contents of the discussion would otherwise be governed by the attorney-client privilege. | All members |
| Appurtenances associated with ownership of a Cooperative parcel include: | A. evidence of membership, ownership of shares or other interests B. an undivided share in the assets of the association C. the exclusive right to use that portion of the common areas and an undivided share in the comments Surplus |
| A building may be exempt from the provisions of the Fair Housing Act related to familial status if at least 80 percent of the occupied units are occupied by at least one person who is years of age or older. | 55 |
| Chapter 718, the Condominium Act, requires that the association be either a Corporation-For-Profit or a | Corporation Not-For-Profit |
| Chapter 719 Florida Statutes is also known as ___ | The Cooperative Act |
| The clause in a contract where a party promises financial reimbursement to an individual in case of their future damage, loss, or injury. | indemnification clause |
| The Condominium Act requires that the association be a _______ Corporation For Profit or a Corporation Not For Profit. | Either |
| A condominium association must give a __ day notice before filing a lien. | 30 |
| A condominium cannot be converted into a timeshare plan unless the ________ authorizes it to do so. | Declaration |
| Condominium unit owners own | A. the condominium unit B. an undivided share of the common elements |
| Bids received by the association for work to be performed must also be considered official records and must be kept for a period of | 1 year |
| The easements and common elements of a condominium are established in the: | Declaration |
| Florida Statute, Chapter 721, requires that a copy of the budget be submitted to the Division for review within ______ days after the beginning of each fiscal year. | 30 |
| For how many years from the time of its recording is a condominium association lien effective? | 1 |
| For how many years from the time of its recording is an HOA lien effective? | 5 |
| Generally speaking, the ADA does not apply to condominium associations or homeowners associations unless the association permits use by members of the public, or functions in the manner of a ________ . | Hotel |
| An HOA must give a __ day notice before filing a lien. | 45 |
| How long after transferring ownership of a condominium association to the members do the developer warranties continue to run for first time purchasers? | 1 Year |
| How many days does a prospective buyer have to cancel after the disclosure summary required by 720.401 F.S. is provided, if the disclosure was not provided prior to executing the contract for sale? | 3 |
| In a timeshare plan, what is the weekly fractional interest in a unit? | 1/52 |
| In condominium and cooperative associations, records such as the articles of incorporation, bylaws, and minutes of meetings must be kept for how long? | Permanently from inception |
| Management activities include preparing budgets or other financial documents, assisting in the noticing or conduct of meetings, ________. | A. controlling or disbursing funds B. coordinating maintenance for the development. |
| Mandatory homeowners' associations are regulated by provisions of which Florida statute? | 720 |
| Part V of The Condominium Act gives following the power to enforce and ensure compliance with this law? | The Division of Florida Condominiums, Time Share, and Mobile Homes |
| The Soldiers and Sailors Civil Relief Act is ____________. | a Federal law which prevents certain collection activity against active duty military |
| Types of record an HOA must maintain? | A. a copy of the bylaws B. a copy of the current rules and regulations C. The minutes of all meetings of the board going back 7 years |
| Under the Fair Housing Act, discrimination because of race, color, religion, gender, national origin, age, handicap, or marital status give rise to a cause of action when the discrimination is in the areas of ________. | All of the above... A. education B. employment C. housing, or public accomodations |
| Under the Fair Housing Act, discrimination in the areas of education, employment, housing, or public accommodations give rise to a cause of action for discrimination based on _________. | All of the above... A. race and color B. religion, gender, and national origin C. age, handicap, or marital status |
| A violation of a rule of an association may not be enforceable if the board doesn't act in a timely manner to correct the situation based on the principal of: | Equitable estoppel |
| What are jointly owned common elements reserved for the exclusive use and benefit of a specific unit? | Limited common elements |
| What are the declaration, the articles of incorporation, the bylaws, and the board rules and regulations? | The governing documents |
| What is insurance to cover employees who are injured while working or who contract an illness as a result of the work? | Workers' compensation |
| What is it called when a party attempts to force the sale of real property (unit) in order to recover the money owed to the creditor (a bank or the association)? | foreclosure |
| What is the form of ownership of real property in which legal title is vested in an association and the right to occupy or use is evidenced by an ownership interest in the association and a proprietary lease? | Cooperative |
| What is the term for when a person has a physical or mental impairment which substantially limits one or more major life activities, or he or she has a record of having, or is regarded as having, such physical or mental impairment? | Handicap |
| What is the transfer from developer control of a community association to the establishment of a unit owner controlled association? | Transition |
| What is the type of corporation where no part of the income or profit is distributed to its members, directors, or officers. | Not-for-profit corporation |
| Which chapter of the Florida Statutes is known as the "NotFor-Profit Corporation Act"? | 617 |
| Which document comes first in priority? | Declaration |
| Which of the following attributes of an animal does not qualify to make said animal a "service animal"? | A. emotional support B. comfort C. companionship |
| Which of the following does a claim of lien NOT have to state in order to be valid? | The appraised value of the parcel |
| Which of the following Florida Statutory Chapters is also known as the Condominium Act? | 718 |
| Who must sign a claim of lien? | A. an officer of the association B. an agent of the association |
| In a condominium association, the board must provide the members notice of a board meeting at least: | 48 hours in advance |
| Vacancies on the board may be filled by: | The remaining board even if less than a majority |
| Upon filing with the Division the developer shall pay to the division a filing fee of _____ for each residential unit to be sold by the developer which is described in the documents filed. | $20 |
| The number of years the association shall retain each director's written certification or educational certificate for inspection by the members after the director's election. | 5 years |
| Who usually files the documents for the creation of a condominium with the clerk of the court? | The Developer |
| Which of the following types of meetings does NOT require proper notice? | Emergency board meeting |
| How many days prior to the annual meeting must notice be delivered and be posted in a conspicuous place on the condominium property? | At least 14 days |
| How many days after the date first used is DBPR Form CO 6000-7, the Limited Proxy Form, valid? | 90 |
| The ______ are filed with the Secretary of State. | Articles of Incorporation |
| Unless the articles of incorporation or the bylaws require a different number, a quorum of a board of directors consists of _______ of the number of directors prescribed by the articles of incorporation or the bylaws. | A majority |
| The minutes of a meeting must be reduced to writing within how many days after the date of the meeting? | Within a reasonable time |
| The _______________________________________ is a legal construct that protects board members of corporations and, in this case the association, from being liable for decisions that in hindsight appear to be ill advised. | Business judgment rule |
| The officers and directors of an association have what type of relationship to the members who are served by the association? | Fiduciary |
| Type of meeting a community association is required to hold at least once a year? | Annual meeting |
| Who must certify in writing that they have read the association's governing documents or, instead, take DBPR approved education curriculum? | New board members |
| Condominium members NOT allowed to do this at board meetings? | Vote |
| How many days prior to a membership meeting must notice be given to members of a condominium association? | 14 |
| How many business days after being recalled does a **condominium director** have to turn over records? | 10 |
| The Registered Office and Registered Agent of an association must be maintained | Anywhere in Florida |
| True statement regarding the replacement of a vacancy on the board? | Vacancies may be filled by appointment by the remaining board members |
| Which of the following reasons are causes for removal of a condominium board member? | All of the above... A. charged with felony theft or embezzlement B. 90 days delinquent in paying fees or assessments C. suspension or removal by the DBPR |
| How many business days after being recalled does a **cooperative director** have to turn over records? | 5 |
| What is the deadline for condominium and cooperative associations to fulfill official record requests? | 10 working days |
| A valid proxy is also a voting certificate for _______. | One specific meeting |
| Officers a condominium or cooperative board must have? | A. president B. treasurer C. secretary |
| What is needed to specify which individual owner will vote when there are multiple owners? | Voting certificate |
| At what point do amendments to the declaration become effective? | When recorded with the Clerk of circuit court |
| Which governing document usually describes quorum and voting requirements, meeting requirements, powers and duties of the board, and the manner for budgeting and collecting assessments? | Bylaws |
| The proper order of the governing documents relevance from greatest to least. | Declaration, articles of incorporation, bylaws, rules and regulations |
| Within _____ days after the end of the fiscal year or annually on the date provided in the bylaws, associations shall prepare and complete or contract for the preparation and completion of a financial report for the preceding year. | 90 |
| Name the group of persons vested with the management of the affairs of the association corporation. | Board of directors |
| The process by which owners petition the board because the budget calls for new assessments for operating expenses which exceed 115% of the previous year's budget. | Reconsideration |
| The quorum for timeshare membership meetings is usually _____. | 15 percent |
| Condominium board members may be chosen to serve by _____. | A. appointment by the developer B. election by remaining board members C. election of the owners at the annual meeting |
| Budgets must be separated by month and year and listed by _____ and _____. | accounts / classifications |
| All board or committee meetings with the association attorney may be closed if discussing: | litigation or other legal matters |
| Director James wrote a resignation letter to the board on January 27th. The resignation takes effect: | January 29th |
| What is the scope and purpose of a special owners meeting? | No business at all can be transacted except that which was specified in the notice |
| In which governing document can the date and time of the annual owners meeting usually be found? | The bylaws |
| What is the set of rules by which meetings are conducted? | Parliamentary procedure |
| What is the most widely used manual of parliamentary procedure in the United States? | Robert's Rules of Order |
| Condominiums and cooperatives must hold at least ______ owner's meeting(s) a year. | 1 |
| At which type of meeting are board of directors elected to fill expiring terms? | Annual members meeting |
| The legal term for the number of members required to be present for a board meeting to legally conduct business. | quorum |
| The type of committee established to deal with one-time issues and make recommendations to the board within a specified time. | ad hoc committee |
| Where can you typically find the number of directors which constitute a quorum? | Bylaws |
| Renters in a condominium association have the right to inspect the association's bylaws and rules | TRUE |
| Board members are allowed to use e-mail as a means of communication so long as they do not _______________. | cast a vote upon an association related matter |
| board adopts an annual budget which requires assessments against unit owners which exceed ____ percent of assessments for the preceding fiscal year, the board shall conduct a special meeting of the unit owners to consider a substitute budget. | 115% |
| What is an exception for commingling reserve funds with operating funds? | Investment purposes. |
| The requirement for condominiums to budget for reserves does not apply to an adopted budget in which the members of an association have determined _________________________. | by a majority vote at a duly called meeting of the association, to provide no reserves or less reserves than required by 718.112 |
| ____________ means the amount of all receipts or revenues, including assessments, rents, or profits, collected by a condominium association which exceeds common expenses | Common surplus |
| If provided by the declaration or bylaws, the association may, in addition to such interest, charge an administrative late fee of up to the greater of ___________ of each delinquent installment for which the payment is late. | the greater of $25 or 5 percent of each delinquent installment for which the payment is late. |
| Florida Statutes, specifically, state that the Association may charge a fee for the estoppel certificate but such fee must be established by any of the following except? | community development district |
| All of the following are authorized to complete an estoppel certificate except for? | Chair of the budget committee |
| Florida Statutes, specifically, state that the Association may charge a fee for the estoppel certificate but such fee must be established by any of the following except? | community development district |
| An estoppel must be prepared by the association’s attorney. | False |
| Which of the following is NOT considered when calculating reserves? | Estimated maintenance cost |
| Budgets must be separated by month and year and listed by _____ and _____. | accounts / classifications |
| The Board of Directors of Michael’s Condominium approved a budget for 2016 for $125,000. The budget included installing a gym for $20,000. Last year’s budget was $95,000. Which of the following statements is true? | if less than 115% and the owners cannot reconsider the budget. |
| Which of the following statements is not true regarding the association’s rights to collect rent from the tenant of a delinquent owner? | The association must inform the tenant of the amount of the owner’s delinquency. |
| An association has quarterly assessments of $500. On December 31, 2015, they foreclosed on a lot that owed two-years worth of assessments. On June 30, 2016, the bank foreclosed their $300,000 mortgage on the lot. How much does the bank owe | $2,000 |
| What are the excess of all receipts collected on behalf of a condominium called? | Surplus |
| A copy of a condominium association’s most recent financial report must be mailed or hand delivered to the unit owner, without charge, within ____ business days after receipt of a written request. | 5 |
| A “claims made” Directors and Officers liability insurance policy: | only covers claims made during coverage |
| In Florida, insurance is regulated by the ________________. | Florida Department of Financial Services |
| The association shall maintain insurance or a fidelity bond for all persons who ________. | Control or disburse funds of the association |
| The coverage against losses from all causes not specifically excluded in the policy. | All risk |
| The condominium association MUST provide primary coverage, in accordance with the original plans and specifications, for | all condominium property from drywall to wall covering |
| All condo owner property policies must include special assessment coverage of no less than ________ per occurrence and a deductible of no more than ______. | $2,000/$250 |
| What are the two types of Directors and Officers insurance? | claims made and claims occurence |
| The liability insurance for officers and directors provides protection from personal liability for actions on behalf of the association if _______________. | The Board of Directors has a fiduciary relationship with the members and must act in good faith and in the best interest of the members must exercise due care and diligence. |
| Insurance that applies to situations in which a covered loss happens to the property and the community association is unable to collect assessments from the owner is called | business income insurance |
| Which of the following types of insurance is for wrongful acts rather than property damage or bodily injury? | Directors & Officers Insurance |
| Any maintenance or management contract entered into by a condominium association must identify all EXCEPT which of the following? | The number of residents served |
| Licensed community association managers must complete hours during the beinnium (2 years) prior to the license renewal date. | 20 |
| The document which contains the responsibilities of the members of the association and of the association itself? | Declaration |
| What percent of the total condominium budget must a contract exceed to require the association seeks competitive bids? | 5% The 5% requirement is for condominiums (Chapter 718), while the 10% requirement is for HOAs (Chapter 720). |
| Can the resident wife of a board member serve on the committee tasked with approving or rejecting fines levied by the board (often known as the fining committee)? | No, fine or suspension levied by the board of administration may not be imposed unless the board first provides at least 14 days’ written notice to the unit owner and, if applicable, any occupant, licensee, or invitee of the unit |
| In a condominium dispute, prior to the institution of court litigation, a party to a dispute shall petition the division for __________. | Non-binding arbitration |
| Whose responsibility is it to make and enforce rules? | The board of directors |
| Accidents in, or upon, an elevator that result in injury or death, must be reported within ______ working days. | 5 Failure to timely file this report will subject the certificate of operation holder to an administrative fine, to be imposed by the division, in an amount not to exceed $1,000. |
| Associations with pools that do not operate as a public lodging facility and have less than ______ units are exempt from supervision under Florida Statute 514. | 32 |
| What percentage of the total voting interest of a condominium association is required to approve a material alteration? | 75 |
| Insurable value in a condominium is determined a MINIMUM of every 36 months by ordering: | an independent insurance appraisal |
| Biscayne Condominium’s declaration sets forth specific requirements regarding insurance coverage and what must be covered. Some of the requirements in the declaration conflict with The Condominium Act (Chapter 718). | The insurance provisions in Biscayne's Declaration override the insurance requirements set forth in Chapter 718. |
| The coverage against losses from all causes not specifically excluded in the policy. | All risk |
Created by:
RDuke77