Florida Community Association Manager Practice Exam

What must be included in the powers of a community association?

1. Only managing finances

2. Borrowing funds and acquiring property

3. Only maintaining community property

4. Facilitating social events

The correct answer is: Borrowing funds and acquiring property

In the context of a community association, the powers often encompass a broad range of responsibilities and capabilities that enable effective governance and management of the community. One essential aspect of these powers is the ability to borrow funds and acquire property. This is crucial as it provides the association with the financial flexibility needed to undertake necessary improvements, fund current operations, or deal with unexpected expenses. Acquiring property can also be vital for the community's growth, allowing for the expansion of facilities or amenities that can enhance the quality of life for residents. These powers are typically outlined in the association's governing documents and play a significant role in its overall functioning and sustainability. While managing finances, maintaining community property, and facilitating social events are important activities within a community association, they do not encompass the broader regulatory and operational capacities that are critical for the association’s long-term success. The ability to borrow and acquire property empowers the association to make strategic decisions that can lead to improved facilities and enhanced community well-being.