Strata Management Licensing Practice Exam · Question
A strata manager discovers a potential conflict of interest between a strata council member and a vendor. What is their ethical and legal obligation?
Strata council members have a fiduciary duty to act in the best interest of the strata corporation. The strata manager should advise on the legal requirement fo
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Question: A strata manager discovers a potential conflict of interest between a strata council member and a vendor. What is their ethical and legal obligation?
Answer options:
- Keep the information confidential to avoid damaging relationships.
- Inform BCFSA immediately for investigation. ✅ Advise the strata council member to disclose the conflict and ensure the matter is handled transparently and fairly by the council.
- Take over all decision-making for that specific vendor contract.
Correct answer: Advise the strata council member to disclose the conflict and ensure the matter is handled transparently and fairly by the council.
Explanation: Strata council members have a fiduciary duty to act in the best interest of the strata corporation. The strata manager should advise on the legal requirement for disclosure and proper handling of conflicts of interest by the council.
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