What type of license is characterized by limited authority and requires supervision?

The choice of a Limited License is correct because this type of license is specifically designed to grant a holder restricted authority to perform certain tasks or functions under supervision. In contexts such as condominium management, limited licenses allow an individual to engage in specific activities while still requiring oversight from a fully licensed professional.

This framework ensures that the person with a limited license is not working independently, minimizing the risk of mismanagement or errors due to their limited experience or knowledge in the field. Thus, it provides an opportunity for those who are still developing their skills to gain practical experience while adhering to regulations and standards of supervision within the industry.

The other options refer to different types of licenses that either grant broader authority or do not inherently involve a supervision requirement, making them distinct from the concept of a Limited License.