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Nevada Cam License Class 2025/2026 Exam With
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If you were looking for maintenance easements for a community, where would you most likely find those provisions? A. Bylaws B. Secretary of State’s Office C. Articles D. The Plats or CC&R’s. Board members must do all of the following except: A. Follow the Business Judgment Rule. B. Receive a Salary for serving on the Board. C. Read NRS 116, NAC 116, their governing documents and understand to the best of their ability. D. Read their community’s Governing Documents. B. Receive a Salary for serving on the Board
Which of the following would normally correctly describe a condominium in any State? A. The owner owns stock in a corporation B. The owner owns air space. C. The owner has a divided interest in the common elements. D. The owner owns his unit from the sky to the ground. B. The owner owns air space. How many days do you have to notify the division of any changes in your address after you receive your license regardless of the type of license you hold? NAC 116A.340 A. 10 B. 20 C. 30 D. 90 How many days does each member of the Executive Board have after his appointment or election to certify in writing that he has read and understands the
In which document would you normally find lender provisions? A. The Public Offering Statement B. The Rules and Regulations C. The Articles of Incorporation D. The CC&R’s What would you normally find in the Articles of Incorporation? A. The use restrictions B. The number of Officers required in the Corporation C. The purpose of the Corporation. D. The number of Board Members required. Which of the following is the most accurate statement? A. Talking among themselves in Executive Session is the best way for a Board to stay inSafe Harbor as owners won’t know what is discussed or why the decision was made. B. Relying on the manager for legal advice will keep the board in “Safe Harbor”.
C. The members of the Board will fall into “Safe Harbor” if they rely on qualified individualsto give advice and who are qualified in each specific area as required by law. D. Relying on a CPA to do the reserve study who is not “registered” will keep the Board inSafe Harbor since there are no other qualifications necessary other than shifting theauthority and liability to someone else. C. The members of the Board will fall into “Safe Harbor” if they rely on qualified individuals to give advice and who are qualified in each specific area as required by law. If a common interest community is not defined as a condominium or a cooperative, which of the below could be considered as another type of Common Interest Community? A. A Converted Building B. An Apartment C. A Planned Community D. A Commercial building C. A Planned Community
A. Verbal B. Written C. Physical D. Combative B. Written What role does the sales agent play in a new project or development? A. The sales agent in the developer’s office does not play a role. B. The sales agent in the developer’s office plays a critical role in building a “Healthy Community” in a new common–interest community. C. The sales agent plays a very important part of insuring that the construction is completed properly on the homes. D. The sales agent plays an important part in making sure that the transition of control of the association is smooth. A. The sales agent in the developer’s office does not play a role. B. The sales agent in the developer’s office plays a critical role in building a “Healthy Community” in a new common–interest community.
C. The sales agent plays a very important part of insuring that the construction is completed properly on the homes. D. The sales agent plays an important part in making sure that the transition of control of the association is smooth. A Board Member can be held personally liable for all of the following except: A. Failing to keep the common area in a state of good repair. B. Failing to follow the Business Judgment Rule C. Failure to retain the services of experts to advise the nature, extent and cost of repair of defects at the project. D. Failing to go along with decisions made by a majority of the Board that are also against the law. D. Failing to go along with decisions made by a majority of the Board that are also against the law. Which of the key components of Verbal Communication is all that is “required” at an owner’s hearing? A. Successful Debate B. Listening
D. Has business cards stating he or she is an employee of the common interest community. In Nevada, an employee can be fired at any time without cause? A. True B. False A. True Which of the following describes what a manager can “take” as incentives annually from all vendors? NAC 116. A. $5,000.00 – Total of all vendors put together. B. $10,000.00 – Total of all vendors put together. C. $1,000.00 – Total of all vendors put together. D. $500.00 – Total of all vendors put together. D. $500.00 – Total of all vendors put together.
What amount needs to be reported with the renewal of the license when you have received any“ gratuities” from vendors? A. Any amount between $16.00 & $ What amount does a member of the board need to report with the budget annually when he or she has received a “gratuity” from a vendor? NAC 116.480 A. Anything over $100. B. Anything over $50. C. Anything over $500. D. Anything over $15. If a director is given a ticket for a function that costs $125.00 to attend from a vendor, what does the director need to do with the ticket? NAC 116.480 A. Give the ticket back as he or she can only receive $100 from all vendors in any one year or give $25.00 back to the vendor. B. Give it to his or her significant other as they can accept any amount. C. As the member of the board has served for 4 years and this is the first “incentive” he has received, he will split it over the 4 years and be okay.
If there is a conflict between the common–interest community’s CC&R’s and Nevada State Law, which one prevails? A. CC&R’s B. Nevada State Law If there is a conflict between a Federal law and the CC&R’s, which one prevails? A. The Federal Law B. The CC&R’s If there is a conflict within the common–interest community’s documents, where do you look first to see which prevails? A. The Documents themselves. B. In the Management Agreement C. In the rules adopted by the Board. D. The State Statutes One of the main reasons the Board of Directors is required by NRS 116 to meet on a 100 Day Basis is to? A. Approve prior meeting minutes. B. Satisfy State of Nevada financial review requirements
C. Listen to tenant complaints D. Approve any necessary contracts during the interim period. Which of the following might you most likely not find in a Public Offering Statement? A. That the home is in a flood plain B. That the home is on an earthquake fault. C. That the owner will need to pay a special capital improvement fee on purchase of the home. D. Lender Provisions D. Lender Provisions What would you most likely not expect to see in a Community Management Contract? A. Any limitations on the liability of the Community Manager B. A statement of the full dollar value of the contract and payment schedule. C. A statement detailing the identity and legal status of the contracting parties. D. The Community Manager’s monthly salary
B. Provide consistent handling of collection activities and comply with Nevada law. C. Provide the right to foreclose on a delinquent owner D. Provide a way to treat the Board differently than the owners Annexation agreements play what part in a common–interest community? A. Establish rules in each phaseB. Bring in new parcels or lots into the common– interest community and are important legal documents, which need to be kept with the other important documents. C. Play no part in a common–interest community D. Play only a minor part in a common–interest community and are not part of the legal documents of a common–interest community. Which of the following is a correct statement?A. All State Laws take priority over all Federal Laws. B. The State Constitution always take priority over the Federal Constitution. C. The County and City Laws always take priority over State laws since they are closer to home and apply to a particular localities’ interests.
D. All common–interest community documents must conform with State, Federal and Local laws. D. All common–interest community documents must conform with State, Federal and Local laws. Board Members serving on a Condo Hotel Board of Directors do not follow the same laws as a board member of board who is a director of a regular condominium in Nevada. True or False. A. True B. False A. True How much can the CICCH (Commission) fine a community manager for disciplinary Actions? NRS 116A.900 & NAC 116A.360 A. Up to $50,000.00 for each violation of the law. B. No more than $100. C. No more than $500. D. No more than $
B. $1,000.
C. There is no Limit D. $100. If a member of the board of directors has committed a violation of Nevada Law, what actions can the CICCH (Commission) order? NRS 116.785 A. They can take no action as it has to go through the ADR process B. They can fine up to 1,000 for any one violation. C. They can fine up to $10,000. for any one violation D. They can fine up to $500.00 for any one violation What is the composition of the board in a condo hotel after the end of the declarant control period? NRS 116B.440 – (Not in Books) A. The developer can keep control for as long as he owns a unit. B. A majority of the board must be made up of unit owners 60 days after 75% of the units are closed.
C. A majority of the board must be made up of unit owners 90 days after 50% of the units are closed. D. There is no correct answer. Unless the documents provide otherwise, how often does the board of directs have to meet for a condo hotel association? NRS 116B.525 A. Quarterly B. Monthly C. Annually D. Every 90 days The Board of Directors in a common interest community has the responsibility for which of the following: A. The financial operations and maintenance of the association. B. To amend all of the documents without a vote of the owners. C. Total enforcement of NRS 116 throughout the community
