Chapter 3

Card Set Information

Chapter 3
2013-07-14 23:44:55
Community Association Management

To review the community association operation and management requirements
Show Answers:

  1. Name the five functions that require licensure of a manager or a management firm in a community association, if receiving compensation.
    • Controlling or disbursing funds of a community association.
    • Preparing budgets or other financial documents for a community association.
    • Assisting in noticing or conducting community association meetings.
    • Coordinating maintenance for a residential community association.
    • Performing other day to day services involved with the operation of a community association.
  2. What is the definition of a community association management firm?
  3. If an association has ___ units or a budget of _____ and pays a manager or management firm, the manager and/or management firm must be licensed
    • 10
    • $100,000
  4. Name four exceptions to the licensure requirement.
    • FL law does not require an association to hire a manager.
    • Officers or Board can "self-manage" regardless of size.
    • Volunteers do not need to be licensed.
    • Association can compensate director/officer for duties unrelated to position as long as not prohibited by legal documents.
    • Person performing CAM responsibilities under direct supervision of a CAM need not be licensed.
  5. List the requirements and actions necessary to become a licensed CAM.
    • Minimum age of 18.
    • Have good moral character.
    • Complete a state approved pre-licensing course within 12 months prior to the date of examination.
    • Provide electronic fingerprints prior to submitting application to DBPR.
    • Send in completed application form.
    • Successfully complete the application process and background investigation and be approved to take the state exam.
    • Pass a state multiple guess exam with 75% grade or better.
  6. For what reasons might an individual be denied a CAM license? And a management firm?
    Having provided management services requiring licensure without requisite license.
  7. Licensure period for a CAM is ____? For Management firm is ____?
    2 year term beginning October 1st of even number years ending September 30 of odd numbered years.
  8. A CAM must meet what educational requirements to qualify for renewal of his license.
    • 4 hours of Legal Update seminars
    • - 2 hour Legal Update seminar each year of the biennial renewal period.
    • 4 hours of Insurance & Financial Management
    • 4 hours of Operation of Community Physical Property
    • 4 hours of Human Resources.
    • 4 hours Any area approved by DBPR
  9. What does the state examination test and what are the approximate percentages for each?
  10. Licensure status categories include:
  11. Define five standards of professional conduct that are automatically considered to be incorporated into any agreement for CAM services.
  12. What is the procedure when an individual has a complaint about a CAM or Firm?
  13. List five reasons a CAM or management firm might be disciplined.
  14. Provide 7  responsibilities of the DBPR in regulating CAM and Firms
  15. Describe the composition of the Regulatory Council of CAM.
  16. Identify 7 responsibilities of the RCCAM.