Strata Management Licensing Practice Exam · Question
Which of the following parties is ultimately responsible for approving the strata corporation's annual budget?
While the strata council prepares the budget and the strata manager assists, the ultimate approval of the annual operating budget and contingency reserve fund c
Start free practice for Strata Management Licensing Practice Exam
252 questions · no signup required · 40 free questions per day
Question: Which of the following parties is ultimately responsible for approving the strata corporation's annual budget?
Answer options:
- The strata manager.
- The strata council. ✅ The owners by majority vote at an AGM.
- BCFSA.
Correct answer: The owners by majority vote at an AGM.
Explanation: While the strata council prepares the budget and the strata manager assists, the ultimate approval of the annual operating budget and contingency reserve fund contributions rests with the owners by way of a majority vote at an AGM.
Start free practice for Strata Management Licensing Practice Exam
252 questions · no signup required · 40 free questions per day
More about Strata Management Licensing Practice Exam
More for Strata Management Licensing Practice Exam candidates
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Strata Management Licensing Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.