Fl Cam License |100 Questions| With Correct Answers.

31. The general corporate law of Florida _____ require that officers be directors and ______ require that directors be members. A. does / does not B. does not / does C. does not / does not D. does / does {Ans: C. does not / does not The general corporate law of Florida does not require that officers be directors or that directors be members of the association.}84. A 400-unit condominium has an annual budget of $175,000 plus $25,000 for reserves. It needs to replace a roof that will cost $7,800. Which of the following is correct? A. This contract must be bid because it involves a roof. B. It does not have to be bid because the roof is less than the $10,000 reserve threshold. C. This contract does not have to be bid because it is less than 5% of the total annual budget including reserves. D. This contract must be bid because it is more than 5% of the $25,000 reserve budget. {Ans: C. This contract does not have to be bid because it is less than 5% of the total annual budget including reserves. Condos and Co-ops with more than 10 units must obtain