Cmca insurance - Study guides, Class notes & Summaries

Risk Management - answer-The process of making and carrying out decisions that will minimize the adverse effects of accidental losses upon the community association. Contractual transfer - answer-Involves entering into a contract that will, among other things, transfer the community association's legal responsibility for any loss. Exposure avoidance - answer-Avoiding circumstances that would expose the community to certain types of loss. Loss prevention and reduction - answer-Taking st...

CMCA PRACTICE EXAM QUESTIONS AND ANSWERS 100% PASS 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. B 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. D. The board has questions or concerns. D Rather tha...

CMCA Practice Exam | Questions and Correct Answers | Latest Update 2024/2025 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 - Answer -A Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts...

CMCA Practice Exam Questions And Answers 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 - ANS A Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. the manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts. d. association will recover ...

CMCA Sample Exam | Questions and Correct Answers | Latest Update 2024/2025 | Graded A+ 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. - Answer -A 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 pol...

CMCA - M100 Questions And Revised Correct Answers 55 and older community - ANSWER : Must 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. Ap...

CMCA EXAM WITH QUESTIONS AND ANSWERS [ALREADY GRADED A+} REAL EXAM !!! In terms of compensation , a contract should state: A. Who provides insurance coverage B. Each employees rate to perform work C. When and on what terms payment(s) will be made D. Requirement for a payment bond - ANS---C Alternative dispute resolution includes which of the following methods? A. Mediation B. Subrogation C.Litigation D.Indemnification - ANS---A Employment contracts need not included: A...

CMCA Practice Test | Questions and Verified Solutions | Latest Update 2024/2025 | Graded A+ 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 - Answer -A Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the re...

CMCA Sample Exam Questions And Answers 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. - ANS A 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 co...