Strata Management Licensing Practice Exam · Question
Who is generally responsible for obtaining liability insurance for a strata corporation's common property?
The strata council, acting as the governing body, is responsible for ensuring the strata corporation obtains and maintains adequate insurance for the common pro
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Question: Who is generally responsible for obtaining liability insurance for a strata corporation's common property?
Answer options:
- Each individual strata lot owner.
- The strata manager acting independently. ✅ The strata council on behalf of the strata corporation.
- The developer of the strata property.
Correct answer: The strata council on behalf of the strata corporation.
Explanation: The strata council, acting as the governing body, is responsible for ensuring the strata corporation obtains and maintains adequate insurance for the common property and assets.
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