Florida Broker Practice Exam

Which of the following is NOT a required disclosure for new residential units sold by a developer?

1. Most recent year-end financial report

2. Articles of incorporation

3. Declaration of condominium

4. Rules of the association

The correct answer is: Most recent year-end financial report

The choice indicating that the most recent year-end financial report is not a required disclosure for new residential units sold by a developer is correct. In the context of Florida's real estate regulations, developers are required to provide specific disclosures to ensure transparency and inform potential buyers adequately about the property and the organization managing it. While the articles of incorporation and declaration of condominium provide vital structural and governance-related information about the residential community, and the rules of the association detail the regulations that residents need to follow, the financial report serves a different purpose and is not mandated for new residential unit sales. This means potential buyers do not need to receive this financial statement at the point of sale, distinguishing it from other required documents that directly impact the ownership experience and community governance.