Florida Timeshare Laws chapter 11

Florida Timeshare Laws chapter 11

Professional Development

25 Qs

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Florida Timeshare Laws chapter 11

Florida Timeshare Laws chapter 11

Assessment

Quiz

Others

Professional Development

Hard

Created by

Hillary Robleto

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is NOT a provision of F.S. 721?

Establish procedures for the creation, sale, exchange, promotion, and operation of timeshare plans

Provide full and fair disclosure to the purchasers and prospective purchasers of timeshare plans

Give statutory recognition to personal property timeshares sold in other states but operating in Florida

Recognize that the tourism industry in this state is a vital part of the state’s economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a personal property timeshare?

A condominium with 48 townhomes

A timeshare with a mid-rise apartment complex and a neighboring single-family complex

An undivided-interest campground with 50 separate campsites

A cruise ship

3.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

Fill in the blanks. F.S. 721 applies, with some exceptions, to all timeshare plans that consist of more than _____ timeshare periods over a period of at least _____ years in which accommodations and facilities are located within Florida or offered for sale within Florida.

4.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

If a prospective buyer’s total financial obligation is less than or equal to _____ during the entire plan, the timeshare is exempt from F.S. 721.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement is CORRECT when a timeshare plan is subject to both F.S. 721 and F.S. 718 or 719?

The plan must comply with all the provisions of both statutes.

The plan must comply with the provisions of both statutes as advised by its attorney.

The plan must comply with Part VI of F.S. 718 and 719 relating to conversions.

In the event of a conflict between F.S. 721 and F.S. 718 or 719, F.S. 721 shall prevail.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The description of a timeshare plan must include all of the following, EXCEPT:

Apportionment of common expenses

Identification of the managing entity

Number of units and timeshare periods

Duration of the plan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement is CORRECT about reservation systems and programs?

They may be considered a trade secret by the developer.

They must be spelled out in the public offering statement.

They must be disclosed in all advertising materials.

They are required for every timeshare program, whether in Florida or outside of Florida.

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