CORRECT ANSWERS (VERIFIED ANSWERS) PLUS RATIONALES 2026 Q&A |LATEST EXAM
UPDATE 2026/2027.
SECTION ONE: QUESTIONS 1–100
A community association manager (CAM) must be licensed if they provide management services
for a community association with more than how many units?
A. 5
B. 10
C. 50
D. 100
🟢 B. 10
🔴 RATIONALE: Florida law requires licensure for managers of associations with more than 10
units or those with an annual budget exceeding $100,000.
Which document provides the legal framework for the creation and operation of a condominium in
Florida?
A. Bylaws
B. Declaration of Condominium
C. Articles of Incorporation
D. Rules and Regulations
🟢 B. Declaration of Condominium
🔴 RATIONALE: The Declaration is the primary document that establishes the condominium form
of ownership and governs its fundamental operations.
Who has the authority to hire and fire the community association manager?
A. The residents
B. The Board of Directors
,C. The developer
D. The Department of Business and Professional Regulation
🟢 B. The Board of Directors
🔴 RATIONALE: The Board of Directors acts on behalf of the association and holds the legal
authority to enter into and terminate contracts for management services.
How often must the Board of Directors provide financial reports to the unit owners?
A. Monthly
B. Quarterly
C. Annually
D. Biannually
🟢 C. Annually
🔴 RATIONALE: Florida statutes mandate that the association must provide a financial report or
statement to members annually.
What is the primary purpose of a reserve study?
A. To determine the current market value of units
B. To plan for the replacement of major capital components
C. To estimate future landscaping costs
D. To audit the association's legal expenses
🟢 B. To plan for the replacement of major capital components
🔴 RATIONALE: Reserve studies identify major components and ensure enough funds are set
aside to cover their future repair or replacement.
Which fiduciary duty requires a manager to act in the best interest of the association?
A. Duty of Loyalty
B. Duty of Care
,C. Duty of Confidentiality
D. Duty of Disclosure
🟢 A. Duty of Loyalty
🔴 RATIONALE: The duty of loyalty dictates that the manager must prioritize the interests of the
association above their own or any third party.
A special assessment requires approval from:
A. The association president alone
B. The community association manager
C. The Board of Directors
D. The majority of all association members
🟢 C. The Board of Directors
🔴 RATIONALE: While the board can typically approve special assessments, the governing
documents may impose additional limitations or require member votes for certain thresholds.
When must a notice of a board meeting be posted?
A. 24 hours in advance
B. 48 hours in advance
C. 72 hours in advance
D. 14 days in advance
🟢 B. 48 hours in advance
🔴 RATIONALE: Florida law requires a 48-hour notice for most board meetings, posted
conspicuously on the property.
Which of the following is considered an "official record" of a condominium association?
A. Private email correspondence between unit owners
B. The original plans and specifications for the building
, C. Unsigned drafts of upcoming board minutes
D. Personal phone logs of the manager
🟢 B. The original plans and specifications for the building
🔴 RATIONALE: Statutory requirements explicitly define building plans and specifications as part
of the association’s official records.
A quorum at a meeting is generally defined as:
A. 10 percent of the members
B. 20 percent of the members
C. A majority of the members entitled to vote
D. All of the members
🟢 C. A majority of the members entitled to vote
🔴 RATIONALE: A quorum constitutes the minimum number of members required to be present to
conduct official association business, usually a majority.
Under the Americans with Disabilities Act (ADA), an association must:
A. Replace all stairs with elevators immediately
B. Provide reasonable accommodations for disabled residents
C. Waive all maintenance fees for disabled owners
D. Allow all modifications without review
🟢 B. Provide reasonable accommodations for disabled residents
🔴 RATIONALE: The ADA requires associations to provide reasonable accommodations to ensure
equal access to community facilities.
What is the maximum fine an association can levy for a rule violation, unless otherwise stated in
the bylaws?
A. $50