Cmca insurance - Study guides, Class notes & Summaries

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...

SOLVED- ELABORATED-CMCA Practice Test Questions 2022 SOLVED- ELABORATED-CMCA Practice Test Questions 20221. Which of the following is a common management control for ensuring maintenance work is performed in a timely manner? A. A purchase order system B. An equipment warranties C. A work order/response form D. A contractor's invoice C. A work order/response form - A, B, and D speak to elements OTHER than a control to ensure maintenance work is completed. - 2. The primary management control tool...

CMCA - M100 Exam Complete Questions and Answers 100% verified | 2024

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 steps to reduce the frequency of potential loss. Real property - ANSWER-Includes buildings, land and the newest type of property exposure such as web sites, logos and s...

CMCA Practice Exam Questions And Answers 2023, Complete Solution 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 D 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. d. association w...

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

CMCA Insurance Exam 2024 REAL QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE

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

CMCA Insurance Exam Questions with Answers 2024

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...