CMCA - M100 Exam Questions With 100% Correct Answers

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 - answeraccounting method that records income as it is earned or assessed to owners and expenses when they are incurred or acquired ad hoc committee - answera committee used on a short term basis Advertising Injury - answerRefers to misappropriation of advertising ideas, or infringement of copyright, title or slogan. agreed upon endorsement - answera policy endorsement that provides for an agreed upon limit of property insurance alternative dispute resolution - answera process by which two parties resolve conflicts through the use of a specially trained, neutral third party appeal - answerTo request review of a case by higher authority- if permitted by the governing docs or statute articles of incorporation - answera document to bring the corporation into existence, define its basic purpose and powers, indicate whether stock will b issued, and if there will b a board of directors assignability provision - answerone of the 6legally binding contract provisions that states that neither party may assign its obligations under the contract to any other person without the Express written consent of the other party Balance Sheet - answera summary of the community's financial position at a specific point in time