Community Association Management Study guides, Class notes & Summaries

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 ...

General Key Terms with 100% Correct Answers |LATEST| 55 and older community Must have one person who is 55 years of age or older living in at least 80% of its occupied units. The community must be designated "55 and older" to qualify as this type of housing that legally prohibits children and limits occupancy to a certain age span. The designation process involves submitting applications and obtaining approval before any enforcement of the ages of residents commences. Approval from...

FL CAM License Certification Exam with 100% Correct Answers |Latest Release| 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete *Ans* B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2...

CAM License Exam with 100% Correct Answers |New Release| being licensed under part VIII of chapter 468 F.S. means *Ans* you are capable of performing community association management (CAM) services specified in the condominium act and reserves these for exclusive use for certain owners *Ans* limited common elements property owned by all owners in a condominium *Ans* the common elements a maintenance coordinator must... *Ans* be licensed as a community association manager and is not e...

Latest CAM - Community Association Manager License GA 100% Correct Answers The Year 1925 *Ans* License Law enacted and the GREC (Georgia Real Estate Commission) was created to protect from harmful acts of Real Estate brokers. GREC *Ans* Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate) licensed GREC's Authority *Ans* Can Issue or Deny RE (real estate) Licenses, Can discipline by revoking, suspending, warning, or fining, Can set rules and regs, and Es...

Latest Florida Community Association Manager Prelicensure Course 100% Correct with |Updated| After purchasing the mobile home park, the residents form a community association and hire a paid manager. The manager must be licensed under Part VIII of Chapter 468 if the budget of the association exceeds: A.$50,000 B.$75,000 C.$100,00 D.$125,000 *Ans* C. A type of joint ownership of real estate where legal title is not vested in the individual, but the individual receives the right to...

Approved CMCA Practice Test Questions and Answers! With 100% Correct Answers 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 *Ans* C. A work order/response form - A, B, and D speak to elements OTHER than a control to ensure maintenance work is completed. The primary management control tool for identifying wh...

Latest Community Association Management with 100% Correct Answers *Ans* Does a condo owner who manages his own community on a part-time basis need a real estate license? *Ans* No Does a CPA who collects association assessments need a real estate license? *Ans* No Does a person working for a management company and managing only one association need a real estate license? *Ans* Yes Does a developer's employee who manages all of the developer's communities until turnover need a real ...

M-100 The Essentials of Community Association Management STUDY GUIDE [Latest Release] Characteristics of a Community Association *Ans* Mandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association *Ans* Business - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic Types of Community Associations *Ans* Planned Community - Owners owns his lot/living unit and community owns common ...