CMCA ACTUAL EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED
A+
◍ 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
◍ 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
◍ Immediate exposers to risk.
Answer: Severe weather, deficiencies, negligence
◍ 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..
Answer: D
,◍ Rather than describing the scope of work in detail in the contract, a manager
may:
A. Attach the bid specifications.
B. Call each contractor to describe the job.
C. Be on-site to oversee project content.
D. Suggest the board meet the contractor to talk about the scope of work..
Answer: A
◍ In older condominiums, an association should have what type of contract
covering mechanical equipment?
A. Time and materials
B. Specific repair
C. Service
D. Preventative maintenance.
Answer: D
◍ For which project would a board most likely want to use a consultant to help
develop bid specifications?
A. Landscape renovation project
B. Repairing and/or replacing roofs
C. Painting the interior of lobbies and hallways
D. Repairing HVAC and boilers.
Answer: B
◍ Speed of Response.
Answer: Authorization, information, money, equipment, personnel, schedule
◍ In what type of contract would a waiver of lien be recommended?
A. Repair of the HVAC system
B. Re-roofing the buildings
C. Repair of the pool pump
D. Annual tree pruning.
Answer: B
◍ Types of Exposure.
, Answer: Property, Net Income, Liability, Personnel
◍ Property Exposures.
Answer: physical damages to property
◍ 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.
Answer: C
◍ Net Income exposures.
Answer: Unexpected increase in cost/money
◍ Personnel Exposures.
Answer: death, retirement, resignation
◍ Alternative dispute resolution includes which of the following methods?
A. Mediation
B. Subrogation
C. Litigation
D. Indemnification.
Answer: A
◍ Employment contracts need not included:
A. Legal Sources
B. Interests
C. Termination
D. Notice.
Answer: B
◍ Liability Exposures.
Answer: 3rd party claims against association. (worker injured and suing ex)
◍ Liability Insurance Coverages.
Answer: Bodily injury, property damage, personnel injury (said/did),
, advertising injury (written/published)
◍ What is the best way to communicate managements expectation for an
employee to complete regular and special tasks during a certain
time-period?
A. Job orientation
B. Job duties
C. Establishing performance goals
D. Performance reviews.
Answer: C
◍ When staff members help to develop policies and procedures, they are more:
A. Likely to get acknowledged for their contributions.
B. Committed to their job
C. Committed to implement them
D. Likely to be satisfied with their job.
Answer: C
◍ Discipline as a part of the HR management can include:
A. Counseling the employee
B. Selecting using a progressive system
C. Terminating an under-performing employee
D. Gathering performance information from other employees.
Answer: A
◍ Which tool is mot effective for defining the employees duties?
A. Personnel Policy
B. Job Description
C. Routine performance reviews
D. State or local labor regulations.
Answer: B
◍ The purpose of a personnel manual or employee handbook is to:
A. Provide the format for job evaluations
B. Define individual job descriptions
C. Detail the programs the company offers
QUESTIONS WITH ANSWERS GRADED
A+
◍ 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
◍ 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
◍ Immediate exposers to risk.
Answer: Severe weather, deficiencies, negligence
◍ 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..
Answer: D
,◍ Rather than describing the scope of work in detail in the contract, a manager
may:
A. Attach the bid specifications.
B. Call each contractor to describe the job.
C. Be on-site to oversee project content.
D. Suggest the board meet the contractor to talk about the scope of work..
Answer: A
◍ In older condominiums, an association should have what type of contract
covering mechanical equipment?
A. Time and materials
B. Specific repair
C. Service
D. Preventative maintenance.
Answer: D
◍ For which project would a board most likely want to use a consultant to help
develop bid specifications?
A. Landscape renovation project
B. Repairing and/or replacing roofs
C. Painting the interior of lobbies and hallways
D. Repairing HVAC and boilers.
Answer: B
◍ Speed of Response.
Answer: Authorization, information, money, equipment, personnel, schedule
◍ In what type of contract would a waiver of lien be recommended?
A. Repair of the HVAC system
B. Re-roofing the buildings
C. Repair of the pool pump
D. Annual tree pruning.
Answer: B
◍ Types of Exposure.
, Answer: Property, Net Income, Liability, Personnel
◍ Property Exposures.
Answer: physical damages to property
◍ 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.
Answer: C
◍ Net Income exposures.
Answer: Unexpected increase in cost/money
◍ Personnel Exposures.
Answer: death, retirement, resignation
◍ Alternative dispute resolution includes which of the following methods?
A. Mediation
B. Subrogation
C. Litigation
D. Indemnification.
Answer: A
◍ Employment contracts need not included:
A. Legal Sources
B. Interests
C. Termination
D. Notice.
Answer: B
◍ Liability Exposures.
Answer: 3rd party claims against association. (worker injured and suing ex)
◍ Liability Insurance Coverages.
Answer: Bodily injury, property damage, personnel injury (said/did),
, advertising injury (written/published)
◍ What is the best way to communicate managements expectation for an
employee to complete regular and special tasks during a certain
time-period?
A. Job orientation
B. Job duties
C. Establishing performance goals
D. Performance reviews.
Answer: C
◍ When staff members help to develop policies and procedures, they are more:
A. Likely to get acknowledged for their contributions.
B. Committed to their job
C. Committed to implement them
D. Likely to be satisfied with their job.
Answer: C
◍ Discipline as a part of the HR management can include:
A. Counseling the employee
B. Selecting using a progressive system
C. Terminating an under-performing employee
D. Gathering performance information from other employees.
Answer: A
◍ Which tool is mot effective for defining the employees duties?
A. Personnel Policy
B. Job Description
C. Routine performance reviews
D. State or local labor regulations.
Answer: B
◍ The purpose of a personnel manual or employee handbook is to:
A. Provide the format for job evaluations
B. Define individual job descriptions
C. Detail the programs the company offers
