Cmca insurance exam - Study guides, Class notes & Summaries

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CMCA Exam Questions With Correct Answers Aggregate - ANSWER- a maximum amount an insurer will reimburse a policyholder for all covered losses during a set time period, usually one year. Risk Management - ANSWER- Identifying, assessing, responding to risk by reducing, removing, and insuring threats Risk Inventory - ANSWER- Contacts, resources, areas to inspect & keep record of Immediate exposers to risk - ANSWER- Severe weather, deficiencies, negligence Speed of Response - ANSWER-...

CMCA - M100 Exam Questions With 100% Correct Answers 55 and older community - answerMust have one person who is 55 years of age or older living in at least 80% of its occupied units. The community must be designated "55 and older" to qualify as this type of housing that legally prohibits children and limits occupancy to a certain age span. The designation process involves submitting applications and obtaining approval before any enforcement of the ages of residents commences. Approval fr...

CMCA Sample Exam 1. Quorum requirements conflicts are resolved by: a. state statute. b. the board of directors. c. a vote of those present at a meeting. d. appointment of a person as a proxy. correct answerA 2. Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. deductible in the association's insurance policies is reimbursed. d. association will be covered for shortfalls i...

CMCA - M100 Exam Questions With 100% Correct Answers Negligence - answerfailure to exercise a duty of care Ethics - answerlearning right from wrong and doing the right thing. Duty of Care - answerexercising the skill and care a reasonable person would i a similar situation Duty of Loyalty - answeracting solely in another parties interests when administering their assets Acceleration - answerthe collection of all assessments due thru the end of the fiscal year accrual basis of accounting...

CMCA - M100 Exam Questions With 100% Correct Answers 55 and older community - answerMust have one person who is 55 years of age or older living in at least 80% of its occupied units. The community must be designated "55 and older" to qualify as this type of housing that legally prohibits children and limits occupancy to a certain age span. The designation process involves submitting applications and obtaining approval before any enforcement of the ages of residents commences. Approval fr...

CMCA - M100 Exam Questions With 100% Correct Answers Negligence - answerfailure to exercise a duty of care Ethics - answerlearning right from wrong and doing the right thing. Duty of Care - answerexercising the skill and care a reasonable person would i a similar situation Duty of Loyalty - answeracting solely in another parties interests when administering their assets Acceleration - answerthe collection of all assessments due thru the end of the fiscal year accrual basis of accounting...

CMCA HANDBOOK Questions & CMCA Sample Questions 2024 Updated Exam The first resource the manager should consult to determine whether the association is responsible for a particular maintenance obligation is the: 1. deed. 2. governing documents. 3. agreement of sale. 4. board president. 5. association's attorney. - ANSWER- 2. Governing documents What is the process of establishing performance goals and standards for an employee? a. Employee orientation to the association b. On-g...

CMCA PRACTICE EXAM Q&A WITH COMPLETE SOLUTION 2022/2023   CMCA PRACTICE EXAM Q&A WITH COMPLETE SOLUTION 2022/2023 Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D. Verifying contractor insurance. Legal review prior to executing a contract will assist the association in the event that: A. A subcontractor is used. B. A performance bond is required. C. There is a budgetary shortfall...

CMCA EXAM 2024 REAL EXAM QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE Aggregate a maximum amount an insurer will reimburse a policyholder for all covered losses during a set time period, usually one year. Risk Management Identifying, assessing, responding to risk by reducing, removing, and insuring threats Risk Inventory Contacts, resources, areas to inspect & keep record of Immediate exposers to risk Severe weather, deficiencies, negligence Speed of Response Authorizati...