Florida Assisted Living Facilities Practice Exam

What is the requirement for the handling of security deposits in assisted living facilities?

1. Returned within 30 days of move-out

2. Returned within 14 days of move-out

3. Kept in Florida banking institutions

4. Kept in the same account as facility funds

The correct answer is: Kept in Florida banking institutions

The requirement for handling security deposits in assisted living facilities emphasizes the responsibility of these facilities to manage residents' funds securely. Security deposits must be kept in Florida banking institutions, which ensures that the money is protected and readily available for appropriate use when needed. This requirement safeguards the residents by ensuring that their deposits are not commingled with the facility's operational funds, reducing the risk of misappropriation or loss. The other choices do not accurately represent the legal requirements. While timely return of security deposits is essential, the specific timeframe stipulated under Florida law is not mentioned in the context of the correct answer. Additionally, keeping security deposits in the same account as facility funds would pose significant risks to the residents' financial security, which is why the regulation mandates separate banking arrangements.