Florida Community Association Manager Practice Exam

If a budget exceeds how much, is a licensed manager required?

1. $50,000

2. $75,000

3. $100,000

4. $150,000

The correct answer is: $100,000

In Florida, the requirement for a licensed community association manager to oversee budget expenditures is specifically tied to the threshold amount of $100,000. Under Florida law, if the budget for a community association exceeds this amount, it mandates that a licensed manager must be employed to ensure that the association's financial activities are managed by someone who is qualified and knowledgeable in the complexities of community management. This requirement is in place to enhance accountability and professional oversight, ensuring that the financial operations of larger communities are conducted with due diligence and adherence to applicable laws and best practices. A licensed manager brings expertise in financial management, budgeting, and compliance, which is crucial for communities with substantial financial commitments. The other options represent amounts that, while significant, do not trigger the requirement for a licensed manager, thereby differentiating the level of oversight necessary based on the scale of the community’s budget.