Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Cam
this is it
| Question | Answer |
|---|---|
| In a condominium association, the board must provide the members notice of a board meeting at least: | 48 hours in advance |
| An estoppel request must be fulfilled by the association within how many days after the request was made? | 10 |
| Management activities include preparing budgets or other financial documents, assisting in the noticing or conduct of meetings, ________. | Controlling or disbursing funds, determining the # of days req for statutory notices, determining amounts due to the association, collecting amounts due |
| What percent of the total homeowners’ association budget must a contract exceed to require the association seeks competitive bids? | 10% |
| A current copy of all contracts to which the association is a party, management agreement, lease, or other contracts. 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 |
| In a condominium dispute, prior to the institution of court litigation, a party to a dispute shall petition the division for __________. | Non-binding arbitration |
| Which chapter of the Florida Statutes is known as the “Not-For-Profit Corporation Act”? | 617 |
| The document which contains the responsibilities of the members of the association and of the association itself? | Declaration |
| 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 |
| How many days prior to an annual meeting with an election must the first notice be delivered? | 60 days |
| Who must complete a Condominium Certificate Form attesting to understanding the statutes and governing documents? | All board candidates |
| Who must certify in writing that they have read the association’s governing documents or, instead, take DBPR approved education curriculum? | New board members |
| What is the deadline for condominium and cooperative associations to fulfill official record requests? | 10 working days |
| What percentage of the ownership that must vote in order for a condominium or cooperative board of directors election to be valid? | 20% |
| Biscayne Condominium held their annual election. The week after a member has asked for a recount. Which of the following is TRUE? | A recount may be completed because the ballots are retained for 1 year after the election |
| William Weeds made a written request to access official records of Stoneybrook HOA on July 10th. By July 31st the association has continued to fail to give Mr. Weeds access to the records. Which of the following is true? | The HOA may be penalized $500 |
| Stoneybrook HOA has agreed to provide William Weeds with copies of the community’s official records. It will take an employee of the HOA’s management company 2 hours to retrieve and copy the records. All of the following statements are true except: | The association may charge for the cost of retrieving and copying records. |
| 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 |
| The quorum for timeshare membership meetings is usually _____. | 15 percent |
| Budgets must be separated by month and year and listed by _____ and _____. | accounts / classifications |
| At which type of meeting are board of directors elected to fill expiring terms? | Annual members meeting |
| Skywest Condominium board’s rules and regulations require that unit owners have no more than 5 potted plants on their balconies. Who must approve an amendment to the rules and regulations to allow 7 potted plants? | the board |
| The board must provide the members notice of a board meeting at least: | 48 hours |
| ____________ means the amount of all receipts or revenues, including assessments, rents, or profits, collected by a condominium association which exceeds common expenses. | Common surplus |
| Nancy Newbie just acquired title to property, located in Lakeshore Condominium Association, at a foreclosure sale. The previous owner did not pay assessments for an entire year. Which of the following statements are true? | a unit owner is jointly and severally liable with the previous owner for all unpaid assessments |
| 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 |
| Homeowner’s associations may fine/penalize members. Unless the governing documents provide otherwise, the fine may not exceed _____ dollars per day or an aggregate of $______. | 50 / 1000 |
| There are continuing education requirements of hours for every licensing term to maintain the CAM license | 15 |
| Which statement is false concerning swimming pool operations? | Pools of 200 square feet or greater must have “NO DIVING” signs in two-inch letters on the pool rules |
| The power of the board to enact rules and regulations is generally defined in the . | Declaration |
| What is the term used to describe the date transition occurs, where the responsibilities of the governing board of the association is transferred from the developer to the persons who bought lots in the association? | Turnover |
| Condos and Coops with more than _____ units must obtain competitive bids if the contract exceeds ____ percent of the total budget including reserves. | 10 / 5 |
| Big Towers Condominium’s ownership was transferred to the association 7 years after its completion. How long will the developer warranty after the transition? | 1 year |
| Which of the following statements is not true regarding the Association’s right to collect rent from the tenant of a delinquent owner? | The Association must inform the tenant of the amount of the owner’s delinquency |
| Bob Frump is the developer of Big Towers Condominium. Big Towers was completed 4 years ago. Jane just bought a unit in Big Towers. Does Jane have an implied warranty of structural component fitness from the developer Bob Frump? | No, because the implied warranty of fitness for structural components last only 3 years after completion. |
| Chapters 718 and 719, for cooperatives and condominiums, require that associations adopt specifications for which of the following items? | hurricane shutters |
| Chapter 719 Florida Statutes is also known as . | The Cooperative Act |
| Which is the document that creates a condominium when recorded with the clerk of circuit court? | Declaration |
| What is it called when an existing, previously occupied development is changed to the form of condominium ownership? | Conversion |
| What document is filed with the Florida Department of State that creates the community association and defines its powers and responsibilities? | Articles of Incorporation |
| The document which contains the responsibilities of the members of the association and of the association itself? | Declaration |
| What is the best answer to describe the class of license security personnel must have to be permitted to carry firearms? | D & G |
| 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 |
| What type of dispute resolution is required for homeowners association where the underlying issues involve an election or recall? | Binding arbitration |
| What is the term used to describe the date transition occurs, where the responsibilities of the governing board of the association is transferred from the developer to the persons who bought lots in the association? | Turnover |
| What is the timeframe that transition/turnover becomes mandatory for condominiums? | Turnover must occur within 7 years of creation; or Within 90 days after 90% of the units are sold |
| 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 |
| A condominium association must give a __ day notice before filing a lien. | 30 |
| For how many years from the time of its recording is an HOA lien effective? | HOA and timeshare liens are viable for five years / Condo 1 year |
| After developer turnover to the members, what type of member complaints does the Division not have jurisdiction to investigate? | maintenance |
| Skywest condominium association has decided to lease part of the common areas to a restaurant. As it relates to the Americans with Disabilities Act (ADA), which of the following is an accurate statement? | Skywest must make the space accessible |
| Skywest Condominium Association expenses for the past year were $100,000. Its income for the same year was $140,000. Which of the following must the Association do with the $40,000 surplus? | reduce assessments for the following year |
| Gekko Cooperative Association has scheduled its annual shareholder meeting for February 18th. By which of the following dates must the association post and deliver the notice of the meeting and the second notice of election? | February 4th. the deadline for the second notice is 14 days before the meeting. |
| Stoneybrook HOA has agreed to provide William Weeds with copies of the community’s official records. It will take an employee of the HOA’s management company 2 hours to retrieve and copy the records. | The association may impose fees to cover the costs if the time spent retrieving and copying the records exceeds one-half hour and if the personnel costs do not exceed $20 per hour. |
| Karen is a member in Skywest Condominium Association and she is not pleased with the direction the board is taking with regards to maintenance of the common areas. Karen filed a written complaint with the board. Which of the following is true? | the board must respond in writing within 30 days |
| Where can you typically find the number of directors which constitute a quorum? | Bylaws |
| At which type of meeting are board of directors elected to fill expiring terms? | Annual members meeting |
| If a special meeting is being held by a condominium association on Wednesday June 24 at 6 pm, when must notice be posted? | June 10 at 6pm (at least 14 days (2 weeks) in advance of the meeting) |
| The quorum for timeshare membership meetings is usually _____. | 15% for timeshares - 20% for condos |
| 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 days |
| ____________ means the amount of all receipts or revenues, including assessments, rents, or profits, collected by a condominium association which exceeds common expenses. | Common surplus |
| How many days prior to a meeting where a condominium association budget is to be considered, must notice be delivered? | 14 |
| The type of financial statement that must be prepared for an association with total annual revenues of $150,000 or more, but less than $300,000. | Compiled |
| The type of financial statement that must be prepared for an association with total annual revenues of at least $300,000, but less than $500,000. | Reviewed |
| An estoppel request must be fulfilled by the association within how many days after the request was made? | 10 days |
| 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 |
| Lilly Layter is a member of Charming HOA. She ran into some financial difficulties and got behind on her assessments. What can be reduced? | only collection fees and late fees may be reduced. |
| If provided by the declaration or bylaws, the association may, in addition to such interest, charge an administrative late fee of __________________________ of each delinquent installment for which the payment is late. | up to the greater of $25 or 5% |
Created by:
RDuke77