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Question 1: What defines the membership and the voting rights of the Association?
A. Corporate Charter
B. Declaration of Condominium
C. By-Laws
D. Rules and Regulations
Correct Answer: A. Corporate Charter
The Articles of Incorporation, also known as the Corporate Charter, provide the framework for the organization of the association and define its membership and the voting rights of the members.
Question 2: A person doing the following for remuneration must have a license.
A. Posts notices for meetings and chairs committee meetings
B. Prepares budgets and financial statements.
C. Supervises maintenance.
D. All of the above.
Correct Answer: D. All of the above.
A person who provides the following services for compensation must be licensed by DBPR
Disburse funds
Prepare budgets and/or financial reports
Notice or conduct meetings
Coordinate maintenance or other day-to-day services involving the operation of the association
Question 3: If the governing documents of an association conflict, which of the following is the proper order of priority?
A. By-laws, Declaration, Articles of Incorporation, Board Rules and Regulations
B. Declaration, Articles of Incorporation, By-laws, Board Rules & regulations
C. Articles of Incorporation, Declaration, By-laws, Board Rules and Regulations
D. Declaration, Board-approved Rules, Articles of Incorporation, By-laws
Correct Answer: B. Declaration, Articles of Incorporation, By-laws, Board Rules & regulations
All of the documents should be consistent with each other. Their order of priority is:
Declaration of Condominium
Articles of Incorporation
By-Laws
Rules and Regulations
Question 4: Restrictive covenants that run with the land as permanent restrictions remain in effect until ________.
A. The majority of the owners vote otherwise
B. All of the owners agree
C. The developer cancels them
D. The community is terminated
Correct Answer: D. The community is terminated
When you purchase, you know that these covenants exist and will continue to exist for the life of the condominium or parcel and upon resale, the next owner inherits the same covenants. This is called running with the land.
Question 5: 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
Correct Answer: 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.
Question 6: The ______ creates the association and the ______ creates the condominium.
A. Declaration of Condominium / Articles of Incorporation
B. By-Laws / Declaration
C. Articles of Incorporation / Declaration
D. Articles of Incorporation / Bylaws
Correct Answer: C. Articles of Incorporation / Declaration
The Articles of Incorporation, also known as the Corporate Charter, are the documents that create the association. The Condominium is established when the developer records the Declaration of Condominium with the county clerk in the county seat of the county in which the condominium is to be built.
Question 7: Under the General Corporate Law _______, community associations have the right to buy, sell or lease real property. Under the condo and co-op laws _____, condos and coops have the specific authority to acquire title.
A. 617 / 718 & 719
B. 623 / 707 & 708
C. 621 / 718 & 719
D. 607 / 718 & 719
Correct Answer: D. 607 / 718 & 719
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