Strata Management Licensing Practice Exam · Question
Which of these is NOT considered 'common assets' under the Strata Property Act?
Common assets are property the strata corporation owns, such as personal property acquired by it, land not part of a strata lot, and money in the funds. A strat
Start free practice for Strata Management Licensing Practice Exam
252 questions · no signup required · 40 free questions per day
Question: Which of these is NOT considered 'common assets' under the Strata Property Act?
Answer options:
- Personal property acquired by the strata corporation.
- Land that is not part of a strata lot and is held by the strata corporation.
- Funds in the Contingency Reserve Fund. ✅ A strata lot owned by an individual owner.
Correct answer: A strata lot owned by an individual owner.
Explanation: Common assets are property the strata corporation owns, such as personal property acquired by it, land not part of a strata lot, and money in the funds. A strata lot owned by an individual is private property, not a common asset.
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.