Chapter 7

Question 1

common property designated for the exclusive use of the owners of one or more strata lots is called ___ common property

Answer 1

limited

Question 2

TF? The Strata Property Act does not apply to strata developments with fewer than five strata lots

Answer 2

False. Applies to all stratified lots in BC, irrespective of lot and strata plan

Question 3

A strata development must maintain a __ __ __ for expenses that occur less often than once a year or that do not usually occcur

Answer 3

contingency reserve fund

Question 4

Unit entitlement is generally calculated based on the __ __ of each strata lot

Answer 4

habitable area

Question 5

What is a subdivision?

Answer 5

the division of land into two or more parcels

Question 6

A strata lot’s contribution to common expenses is determined by the schedule of __ __

Answer 6

unit entitlement

Question 7

TF? All individuals on a strata council will be held to the same statutory requirements, regardless of their relative expertise

Answer 7

True

Question 8

A subdivision of land, as opposed to a building, into separate parcels creates a __ __ strata development.

Answer 8

bare land

Question 9

Generally speaking, how often must the owners of a strata development elect a new strata council?

Answer 9

every year

Question 10

__ __ is any part of a strata plan that is not part of a strata lot

Answer 10

common property

Question 11

If a rule passed by a strata council conflicts with one of the strata’s bylaws, which prevails?

Answer 11

the bylaw