FLORIDA COMMUNITY ASSOCIATION
MANAGER PRELICENSURE EXAM 2026 WITH
VERIFIED QUESTIONS AND ANSWERS||
ALREADY GRADED A+
After transition, the developer of a condominium has what relationship to the
association?
A. One of trust and confidence of five years
B. Warranty obligations as defined in the statues
C. Responsibility for keeping records
D. Maintenance and budgeting responsibilities - ANSWER-B.
Larry is a director in a condominium association and decides not to vote on a
sensitive issue presented to the board at its meeting. Which applies?
A. As long as he doesn't vote on this issue, his position is not recorded.
B. A director who abstains from voting on any action shall be presumed to have
taken no position with regard to the action
C. A non-vote is an automatic "yes" vote.
D. The director's vote or non-vote is subject to the approval of the entire board -
ANSWER-B.
A valid proxy must contain:
A. A date and the signature of the owner(s) or shareholder(s)
B. The reason the proxy is given
,C. The name of the person voting the proxy, who must be resident owner
D.. The exact time the meeting will end - ANSWER-A.
On June 5, 2019, the board of the Aluminum Condominium Association held a
special meeting to discuss a maintenance problem. Minutes of the meeting must
be reduced to writing by:
A. June 5, 2019
B. June 12, 2019
C. June 31, 2019
D, a reasonable time - ANSWER-D.
Official 2017 community association records must be maintained until the end
of:
A. 2017
B. 2022
C. 2024
D. 2020 - ANSWER-C.
It is best for the non-profit association of the Mightier Than Thou
Condominium to use Section 528 of the IRS code because:
A. The forms are simpler and taxes are easier to compute, resulting in an
automatic lower tax rate.
B. There is an automatic tax exemption when using this section.
C. Taxes are deferred until the reserve funds are earned.
D. Reserves for the replacement of capital improvements and deferred
maintenance will to be taxed. - ANSWER-D.
A condominium association's fiscal year-end formal financial statements:
A. Must be prepared on the accrual basis.
,B. Must include a summary of the association's reserves and disclose the
amount necessary to fully fund each component using the straight line method
of calculation.
C. Is only given to the association board and finance committee
D. Is not required to evaluate the association's reserves - ANSWER-B.
When the board of Only Yours Condominium decides to give one resident unit
owner a reduction of the next assessment, the board must:
A. Provide a reduction to all unit owners
B. Do so by unanimous vote
C. Do so by majority vote
D. Can only do so when allowed in the community documents - ANSWER-A.
The requirement to have financial statements prepared at the community
association's fiscal year-end would apply to:
A. An association containing 50 units or less
B. An association having a budget of $100,000 or less
C. An association with a $175,000 budget
D. All association within 90 days of the end of their accounting year -
ANSWER-C.
In a condominium association, when reserves are calculated on the separate
analysis or straight line method, approval to use reserves for purposes other than
originally intended requires:
A. Approval of 67% of the unit owners
B. Board of directors' approval
C. Approval of 1/2 of the voting interests in the project
D. Approval of the majority of those present at a meeting of the membership of
the association - ANSWER-D.
, In condominiums and cooperatives, which of the following budgetary line items
would be EXCLUDED from the calculation used in determining the percentage
of budget increase for purposes of determining the 115% increase in operating
assessments?
A. Management fees
B. Utility expenses
C. State registration fees
D. Reserves for capital improvements - ANSWER-D.
Mildstone Club, a homeowners' association, has extensive common areas. The
association may transfer its real estate tax obligation on the common areas to
the parcel owners by applying to the:
A. Division of Florida Condominiums, Timeshares and Mobile Homes
B. Florida Department of State
C. Clear of the County Court
D. County Property Appraiser's office - ANSWER-D.
Which of the following should determine whether the budget at a community
association is adopted by the membership or a vote of the board of directors?
A. The association documents
B. Florida Statutes 718 or 719
C. Seventy-five percent membership vote
D. Florida Administrative Code - ANSWER-A.
In most circumstances, the power to make assessments belongs to the:
A. Association's board of directors
B. Developer
C. Association manager
D. Unit owners - ANSWER-A.
MANAGER PRELICENSURE EXAM 2026 WITH
VERIFIED QUESTIONS AND ANSWERS||
ALREADY GRADED A+
After transition, the developer of a condominium has what relationship to the
association?
A. One of trust and confidence of five years
B. Warranty obligations as defined in the statues
C. Responsibility for keeping records
D. Maintenance and budgeting responsibilities - ANSWER-B.
Larry is a director in a condominium association and decides not to vote on a
sensitive issue presented to the board at its meeting. Which applies?
A. As long as he doesn't vote on this issue, his position is not recorded.
B. A director who abstains from voting on any action shall be presumed to have
taken no position with regard to the action
C. A non-vote is an automatic "yes" vote.
D. The director's vote or non-vote is subject to the approval of the entire board -
ANSWER-B.
A valid proxy must contain:
A. A date and the signature of the owner(s) or shareholder(s)
B. The reason the proxy is given
,C. The name of the person voting the proxy, who must be resident owner
D.. The exact time the meeting will end - ANSWER-A.
On June 5, 2019, the board of the Aluminum Condominium Association held a
special meeting to discuss a maintenance problem. Minutes of the meeting must
be reduced to writing by:
A. June 5, 2019
B. June 12, 2019
C. June 31, 2019
D, a reasonable time - ANSWER-D.
Official 2017 community association records must be maintained until the end
of:
A. 2017
B. 2022
C. 2024
D. 2020 - ANSWER-C.
It is best for the non-profit association of the Mightier Than Thou
Condominium to use Section 528 of the IRS code because:
A. The forms are simpler and taxes are easier to compute, resulting in an
automatic lower tax rate.
B. There is an automatic tax exemption when using this section.
C. Taxes are deferred until the reserve funds are earned.
D. Reserves for the replacement of capital improvements and deferred
maintenance will to be taxed. - ANSWER-D.
A condominium association's fiscal year-end formal financial statements:
A. Must be prepared on the accrual basis.
,B. Must include a summary of the association's reserves and disclose the
amount necessary to fully fund each component using the straight line method
of calculation.
C. Is only given to the association board and finance committee
D. Is not required to evaluate the association's reserves - ANSWER-B.
When the board of Only Yours Condominium decides to give one resident unit
owner a reduction of the next assessment, the board must:
A. Provide a reduction to all unit owners
B. Do so by unanimous vote
C. Do so by majority vote
D. Can only do so when allowed in the community documents - ANSWER-A.
The requirement to have financial statements prepared at the community
association's fiscal year-end would apply to:
A. An association containing 50 units or less
B. An association having a budget of $100,000 or less
C. An association with a $175,000 budget
D. All association within 90 days of the end of their accounting year -
ANSWER-C.
In a condominium association, when reserves are calculated on the separate
analysis or straight line method, approval to use reserves for purposes other than
originally intended requires:
A. Approval of 67% of the unit owners
B. Board of directors' approval
C. Approval of 1/2 of the voting interests in the project
D. Approval of the majority of those present at a meeting of the membership of
the association - ANSWER-D.
, In condominiums and cooperatives, which of the following budgetary line items
would be EXCLUDED from the calculation used in determining the percentage
of budget increase for purposes of determining the 115% increase in operating
assessments?
A. Management fees
B. Utility expenses
C. State registration fees
D. Reserves for capital improvements - ANSWER-D.
Mildstone Club, a homeowners' association, has extensive common areas. The
association may transfer its real estate tax obligation on the common areas to
the parcel owners by applying to the:
A. Division of Florida Condominiums, Timeshares and Mobile Homes
B. Florida Department of State
C. Clear of the County Court
D. County Property Appraiser's office - ANSWER-D.
Which of the following should determine whether the budget at a community
association is adopted by the membership or a vote of the board of directors?
A. The association documents
B. Florida Statutes 718 or 719
C. Seventy-five percent membership vote
D. Florida Administrative Code - ANSWER-A.
In most circumstances, the power to make assessments belongs to the:
A. Association's board of directors
B. Developer
C. Association manager
D. Unit owners - ANSWER-A.
