Community Association Management Study guides, Class notes & Summaries

M100 Community Association Management 100% Correct Answers |UPDATED| Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Certain documents bind a...

Latest CAI Exam Flashcards with 100% Correct Answers Community Association *Ans* legal entity in which the owners enjoy the protection, enhancement, maintenance and preservation of their homes and property. What're the three defining characteristics of community associations? *Ans* 1. Membership in the community association is mandatory and automatic for all owners 2. Certain association governing documents bind the owner and the association to each other through mandated actions. 3...

#1 Florida Cam Exam with 100% Correct Answers |Latest Release| 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 *Ans* True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase *Ans* True The Florida Fair Housing Act prohibits discrimination on the basis of handicap *Ans* True A valid Declaration o...

M100 Verified Exam Elaboration and Approved Study Guide [100% Correct] Community Association *Ans* Mandatory memberships, mutually binding contracts, lien-based assements Purpose of community association *Ans* Provide for the community, business, and governance aspects of the association Basic types of community association *Ans* Planned communities, condominium, and cooperatives Planned community *Ans* HOA, owner association Condominium *Ans* Owner of his/her unit Cooperative *Ans...

Random CMCA Practice Test Questions (Under Construction) Q&A 100% Correct C. A work order/response form - A, B, and D speak to elements OTHER than a control to ensure maintenance work is completed. *Ans* Which of the following is a common management control for ensuring maintenance work is performed in a timely manner? A. A purchase order system B. An equipment warranties C. A work order/response form D. A contractor's invoice C. Maintenance responsibility chart along, with the gove...

FLORIDA LCAM 2024 Test Review with 100% Correct Answers Four Main Types of Associations in Florida *Ans* Condominiums Cooperatives Homeowner's Associations (Mandatory) TimeShares Does the structure, architecture, or look of the building or buildings determine what type of Association it is? *Ans* No What determines the legal type of association that applies to a property? *Ans* The Association's Documents Assessments *Ans* Residential Condominiums are distinguished by these thre...

#1 Community Association Manager Licensing Exam Revised Guide [100% Correct] Community Association (Definition) *Ans* 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 m...

Latest Capitus CAM Course Guide 100% Correct Q&A Which person needs to hold a license? A. A condo owner who manages his own community on a part-time basis. B. A CPA who collects assessments and pays vendors and professionals. C. A person working for a broker and managing only one association on site. D. A developer's employee who manages all of their properties until turnover. *Ans* C. A person working for a broker and managing only one association on site. Why: any non-exempt person ...

Florida CAM Exam Prep |100% Correct| A Community is defined as *Ans* Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and with specific rights granted to the members. Community Associations are structured by *Ans* Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are ...