LECCHRIS

The most common method of risk management is: A. The sharing of risk B. The assumption of risk C. The transfer of risk D. Risk avoidance - ANSWER C. The transfer of risk Which of the following types of risk is associated with change is not insurable? A. Fundamental risk B. Particular risk C. Dynamic risk D. Static risk - ANSWER C. Dynamic risk

Liability Insurance PAP (Part A) - ANSWER Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - ANSWER A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - ANSWER A document that proves the existence of insurance coverage

Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - ANSWER Replacement cost minus depreciation Sam and Dan are working to clean out the gutters around the roof on Sam's house. Sam and Dan are standing a...

CMCA PRACTICE EXAM QUESTIONS & ANSWERS(GRADED A)EXAM BUNDLECMCA PRACTICE EXAM QUESTIONS & ANSWERS(GRADED A)EXAM BUNDLECMCA PRACTICE EXAM QUESTIONS & ANSWERS(GRADED A)EXAM BUNDLECMCA PRACTICE EXAM QUESTIONS & ANSWERS(GRADED A)EXAM BUNDLEV

TRUE - ANSWER TRUE or FALSE Risk management is the process of making and carrying out decisions that will minimize the adverse effects of accidental losses upon the community association. c. income exposure to loss - ANSWER What type of Exposure to Loss for a community association is characterized by net losses that may involve a reduction in income or an increase in operating expenses or both? a. property exposure to loss b. liability exposure to loss c. income exposure to loss d. p...

Antepartum - ANSWER time period before childbirth Antepartum exercises - ANSWER safe, productive, and recommended during the antepartum period such as swimming, brisk walking, indoor stationary cycling, step or elliptical machines, and low-impact aerobics (taught by a certified aerobics instructor). Ballottement - ANSWER a sharp upward pushing against the uterine wall with a finger inserted into the vagina for diagnosing pregnancy by feeling the return impact of the displaced fetus

Abstention - ANSWER When a participant in a vote either does not go to vote or, in parliamentary procedure, is present during the vote, but does not cast a ballot. An abstention may be used to indicate the voting individual's ambivalence about the measure or mild disapproval that does not rise to the level of active opposition. Abstentions do not count in tallying the vote; when members abstain, they are in effect only attending the meeting to aid in constituting a quorum. Action item list...

Ad hoc committee - ANSWER used when an objective needs consideration and no standing committee can absorb that issue; short-term basis board liaison system - ANSWER directors assigned to certain committees to guide the committee on Board policy and procedures and to report back to the board

Statement of Revenue and Expense - ANSWER This report shows the activity over a period of time & therefore will indicate the amount of income received & expenses incurred, whether actual or accrued, for all activity of the association through the 8 months of the fiscal year. The report may also show the amount of money in each budgeted line item for the entire year & amount remaining in each line for the last 4 months of the year. Your association just completed the eighth month of its fiscal...

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. - ANSWER 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. -