CAM Quiz Unit 3 PDF

# UNIT 3 QUIZ ## 1. Which is a practice included in community association management? - Controlling or disbursing funds of a community association - Preparing budgets or other financial documents for a community association - Assisting in the noticing or conducting of community association meeting...

# UNIT 3 QUIZ ## 1. Which is a practice included in community association management? - Controlling or disbursing funds of a community association - Preparing budgets or other financial documents for a community association - Assisting in the noticing or conducting of community association meetings - All of these ## 2. Once a rule has been promulgated, what happens to it? - It is incorporated into the Florida Administrative Code. - It is considered void. - It must go back to committee. - None of these. ## 3. Which is one of the three parts that distinguish a condominium from other types of joint or common ownership? - Joint ownership of a percentage of the common elements - Exclusive ownership of a single unit - Membership in a condominium association - All of these ## 4. Which is NOT included in Part I of the general provisions of the Condominium Act? - The basic authority of the condominium association - The mandatory content of the association bylaws - The responsibility for the payment of common expenses - All of these ## 5. Which type of condominium is restricted by Part IV of the Condominium Act? - Leasehold condominiums - Phase condominiums - Mixed-use condominiums - Conversions ## 6. Under which type of ownership is legal title to all real estate vested in a corporation or cooperative association? - Condominium - Cooperative - Time-share - None of these ## 7. Which is TRUE about mandatory homeowners associations? - It is a Florida corporation responsible for the operation of a residential community association. - The governing documents bind the owners. - It is created by the developer when the covenants, conditions, and restrictions are recorded. - All of these. ## 8. How long must homeowners associations maintain meeting minutes? - 3 years - 5 years - 7 years - 10 years ## 9. How long is the contract rescission period for purchasers of a time-share plan? - 5 days - 10 days - 15 days - 20 days ## 10. What type of properties are used by more than one owner throughout the year? - Time-share properties - Cooperative - Condominium - Corporation