Gold Coast Cam License Exam With Correct Answers

In a cooperative association, who owns all of the property? {Ans: The corporation}The association's formal documents include the phrase, "As may be amended from time to time." To what does this most likely refer? {Ans: It refers to modifications of law by the legislature}In order to maintain an active CAM license, all except which of the following is required? {Ans: a. pay the $5 unlicensed fee b. pay the renewal by sept 30 c. satisfy all CE requirements d. be actively employed as a cam - correct}Document amendments that may require a vote of owners and lienholders include all except for which of the following? {Ans: An amendment that does not affect the interest of the association members is a material alteration or modification to the common property.}What is duty of loyalty? {Ans: Similar to fiduciary responsibility, in that it is assumed that the CAM will act only in the community association's best interested when handling its affairs}What is big rigging? {Ans: The CAM/CAB informs a favored vendor of other bids}