Strata Management Licensing Practice Exam · Question
Which of the following describes ordinary expenses for a strata corporation?
Ordinary expenses are the regular, recurring costs of maintaining and operating the strata property, which are funded through the annual operating budget and st
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Question: Which of the following describes ordinary expenses for a strata corporation?
Answer options:
- Major repairs not occurring annually.
- Expenses for a new amenity, like a swimming pool. ✅ Annual operating expenses outlined in the operating budget, such as insurance, utilities, and routine upkeep.
- Costs associated with a special levy.
Correct answer: Annual operating expenses outlined in the operating budget, such as insurance, utilities, and routine upkeep.
Explanation: Ordinary expenses are the regular, recurring costs of maintaining and operating the strata property, which are funded through the annual operating budget and strata fees.
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