Podcast
Questions and Answers
Which is a practice included in community association management?
Which is a practice included in community association management?
- Controlling or disbursing funds of a community association
- All of these (correct)
- Assisting in the noticing or conducting of community association meetings
- Preparing budgets or other financial documents for a community association
Once a rule has been promulgated, what happens to it?
Once a rule has been promulgated, what happens to it?
- It must go back to committee.
- None of these.
- It is considered void.
- It is incorporated into the Florida Administrative Code. (correct)
Which is one of the three parts that distinguish a condominium from other types of joint or common ownership?
Which is one of the three parts that distinguish a condominium from other types of joint or common ownership?
- Exclusive ownership of a single unit
- Joint ownership of a percentage of the common elements
- Membership in a condominium association
- All of these (correct)
Which is included in Part I of the general provisions of the Condominium Act?
Which is included in Part I of the general provisions of the Condominium Act?
Which type of condominium is restricted by Part IV of the Condominium Act?
Which type of condominium is restricted by Part IV of the Condominium Act?
Under which type of ownership is legal title to all real estate vested in a corporation or cooperative association?
Under which type of ownership is legal title to all real estate vested in a corporation or cooperative association?
Which is TRUE about mandatory homeowners associations?
Which is TRUE about mandatory homeowners associations?
How long must homeowners associations maintain meeting minutes?
How long must homeowners associations maintain meeting minutes?
How long is the contract rescission period for purchasers of a time-share plan?
How long is the contract rescission period for purchasers of a time-share plan?
What type of properties are used by more than one owner throughout the year?
What type of properties are used by more than one owner throughout the year?
What Statute governs vacation and timeshare plans?
What Statute governs vacation and timeshare plans?
What Statute governs Homeowner Associations
What Statute governs Homeowner Associations
What Statute governs the Cooperative Act
What Statute governs the Cooperative Act
What Statute governs the Condominium Act
What Statute governs the Condominium Act
Not for Profit organizations under Chapter 617 F.S. must maintain a registered agent and registered office in the State of Florida.
Not for Profit organizations under Chapter 617 F.S. must maintain a registered agent and registered office in the State of Florida.
Not For Profit means Tax Exempt
Not For Profit means Tax Exempt
The Regulatory Council of Community Associations Managers is created within the department and shall consist of seven members appointed by the governor and confirmed by the senate. Of the seven members ......
The Regulatory Council of Community Associations Managers is created within the department and shall consist of seven members appointed by the governor and confirmed by the senate. Of the seven members ......
Chapter 718, Part II relates to construction warranties for completed improvements and states that statutory warranties for the association extend for a period of three years from completion or a period of one year from the time the unit owners assume control of the association, whichever occurs last. Under no circumstance do the warranties extend
Chapter 718, Part II relates to construction warranties for completed improvements and states that statutory warranties for the association extend for a period of three years from completion or a period of one year from the time the unit owners assume control of the association, whichever occurs last. Under no circumstance do the warranties extend
Flashcards
Community association management practice
Community association management practice
Managing and controlling funds, preparing budgets, and assisting with meetings in a community association.
Promulgated rule effect
Promulgated rule effect
A promulgated rule becomes part of the governing documents, not a separate code.
Condominium's defining parts
Condominium's defining parts
Exclusive unit ownership, joint common element ownership, membership in an association.
Condominium Act Part I exclusion
Condominium Act Part I exclusion
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Condominium Act Part IV restriction
Condominium Act Part IV restriction
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Cooperative ownership title
Cooperative ownership title
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Mandatory homeowners associations role
Mandatory homeowners associations role
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Homeowners association meeting minute retention
Homeowners association meeting minute retention
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Time-share contract rescission period
Time-share contract rescission period
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Time-share properties purpose
Time-share properties purpose
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Community association management
Community association management
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Condominium Ownership
Condominium Ownership
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Bylaws
Bylaws
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Covenant
Covenant
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Condition
Condition
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Restriction
Restriction
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Time-share plan
Time-share plan
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Cooperative ownership
Cooperative ownership
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Study Notes
Community Association Management
- Community associations manage funds, prepare budgets, and assist with meetings
- Includes controlling funds and other financial documentation
Rules and Regulations
- Promulgated rules are incorporated into the Florida Administrative Code
- Rules that are not valid are considered void
Condominium Ownership
- Distinguishing characteristics include joint ownership of a percentage of the common elements, exclusive ownership of a single unit, and membership in a condominium association
Condominium Act
- Part I of the Condominium Act outlines basic authority, mandatory content of bylaws, and responsibility for payment
Condominium Types
- Restricted types, as outlined in Part IV, include leasehold, phase, mixed-use, and conversions
Ownership Types
- Legal title to all real estate is vested in a corporation or cooperative in condominium ownership
- Cooperative ownership is another way to own real estate
- Time-share ownership is a type of ownership
Homeowners Associations
- Florida corporations manage residential communities
- Governing documents bind owners and create covenants, conditions, and restrictions
- Associations maintain meeting minutes for set periods
Meeting Minutes
- Homeowners associations maintain meeting minutes for a minimum of 10 years
Contract Rescission
- Contract rescission periods for time-share purchasers are 20 days
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Description
Test your knowledge on community association management, including budgeting and financial controls. This quiz covers the rules, regulations, and types of ownership outlined in the Condominium Act. Understand the intricacies of condominium ownership and types for a comprehensive review.
