Florida Community Association Manager Practice Exam

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Prepare for the Florida Community Association Manager Exam. Review flashcards and multiple choice questions with hints and explanations to boost your score. Ace your exam!

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How many business days does an association have to send the most recent annual financial report to a unit owner after receiving a written notice?

3 business days
5 business days
7 business days
10 business days

The correct answer is: 5 business days

An association is required to send the most recent annual financial report to a unit owner within a specific timeframe after receiving a written request from that owner. The correct answer indicates that this timeframe is five business days. This provision is in place to ensure transparency and timely communication between the association and its members regarding financial matters, which are vital for the operation and understanding of community management. The requirement to respond within five business days underscores the importance of accountability in community associations. It allows unit owners to stay informed about the financial status of their community, enabling them to make informed decisions and participate actively in governance. This timeframe also balances the need for prompt responsiveness with a reasonable period for the association to prepare and send the requested information.