Sample Questions – FLCamAcademy

1. Cooperative ownership means _____.

Legal title of the unit is vested in the cooperative

Ownership of the common elements is with the cooperative

Membership in the association includes the right to use an individual unit

All of the above

Question 1 of 12

2. Condominiums are established by recording the Declaration of Condominium with the _____.

Florida Department of State

Clerk of the County Court

City Hall where the condo is located

Department of Business and Professional Regulation

Question 2 of 12

3. A quorum is usually _____.

a majority for condos and co-ops

30 percent for homeowner associations

15 percent for timeshares

All of the above

Question 3 of 12

4. Condominium board members may be chosen to serve by _____.

appointment by the developer

election by remaining board members

election of the owners at the annual meeting

All of the above

Question 4 of 12

5. Which of the following is not true regarding allowable charges for copies of the official records of the association?

Condominiums can charge a reasonable amount for copies

HOAs can charge 25 cents per page for copies made on their copier

For more than 25 copies, HOAs can charge actual outside service costs

HOAs may charge $20 per hour for retrieving all records and copies

Question 5 of 12

6. Budgets must be separated by month and year and listed by _____ and _____.

income / expense

assessments / fees

accounts / classifications

maintenance / reserves

Question 6 of 12

7. The Board of Directors of Happy Place Condominium approved a budget for 2017 for $125,000. The budget included installing a new spa for $20,000. Last year’s budget was $95,000. Which of the following statements is true?

The owners may request reconsideration of the budget if the application is signed by 10 percent of the owners.

The owners may request reconsideration of the budget if the application is signed by 30 percent of the owners.

This increase is not authorized because it is more than 115% of last year’s budget.

This budget may not be reconsidered by the owners.

Question 7 of 12

8. Which of the following statements is not true regarding the association’s rights to collect rent from the tenant of a delinquent owner?

The association must make a written demand to the tenant.

A tenant who acts in good faith to a written demand is immune from any claim action by the unit owner.

The association may evict a tenant who fails to pay per the rent demand letter.

The association must inform the tenant of the amount of the owner’s delinquency.

Question 8 of 12

9. An association has quarterly assessments of $500. On December 31, 2012, they foreclosed on a lot that owed two-years worth of assessments. On June 30, 2013, the bank foreclosed their $300,000 mortgage on the lot. How much does the bank owe in assessments?

$500

$3,000

$1,000

$2,000

Question 9 of 12

10. 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.

Question 10 of 12

11. The liability insurance for directors and officers provides protection from personal liability for actions taken on behalf of the association if _____.

directors carry out their duties within the scope of their responsibilities

directors avoid private personal gain

directors give proper time and effort to their position

all of the above

Question 11 of 12

12. Which statement is false concerning swimming pool operations?

Sufficient lighting to see all portions of the bottom of the pool is required if the pool is used at night.

Showers must be readily available

Pools of 200 square feet or greater must have NO DIVING” signs in two-inch letters on the pool rules”

each drain grate/cover must restrict the velocity of water through it to no greater than 1.5 feet per second

Question 12 of 12