CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND CORRECT
ANSWERS(VERIFIED ANSWERS)|AGRADE
policy forms - - ANS✔️--define the type of insurance coverage provided,
for example, property, liability and boiler and machinery; they also
define how comprehensive each type of coverage is—what is included
and what is excluded
property exposure to loss - - ANS✔️--loss related to either tangible
community association property (buildings and contents) or intangible
association property (information, proprietary Web site, etc.)
real property - - ANS✔️--includes buildings, land, and the newest type of
property exposure
risk financing - - ANS✔️--the process of obtaining resources to pay for
any financial consequences of accidental loss
,segregation of exposure - - ANS✔️--involves the duplication or
separation of property exposures to loss
third-party insurance - - ANS✔️--liability coverage purchased by an
insured (the first party) from an insurer (the second party) for
protection against claims of another (third party)
waiver of subrogation - - ANS✔️--the insurer waives its right to require
the association to transfer recovery rights to the insurer regarding unit
owners
emergency services maintenance - - ANS✔️--the ability to respond to
unpredictable problems (for example, sewer backups, slope failures,
roof leaks and frozen pipes); the key to a successful response is to
anticipate the different possibilities—and to develop a plan for
responding to each one
,facilities management - - ANS✔️--the process of operating, maintaining,
repairing, and replacing common property—that is, the common
elements or areas
inspection report - - ANS✔️--commonly called a "punch list," this is a
compilation of all the maintenance needs identified during a walk-
through
maintenance contact sheet - - ANS✔️--a useful management control to
record various vendor services and information needed in case of an
emergency
maintenance record - - ANS✔️--tells you when the maintenance was
actually done
management control - - ANS✔️--any means used to track, record, remind
or command attention; usually these means are forms or documents
, preventative maintenance - - ANS✔️--this is periodic upkeep to avoid
disruptive breakdowns and to prolong the useful life of the physical
asset in question
requested or corrective maintenance - - ANS✔️--requested by an owner,
a tenant, or the board—or identified during routine inspection of the
property
responsibility chart - - ANS✔️--a management control used to keep
track of who is accountable for the maintenance of various property
elements or areas
scheduled replacement - - ANS✔️--consists of replacing physical assets
as they wear out or break; considered a part of maintenance because
it addresses the useful life of a physical asset
work order/response form - - ANS✔️--a form for assigning work to be
done in any one of the five maintenance programs described earlier
ANSWERS(VERIFIED ANSWERS)|AGRADE
policy forms - - ANS✔️--define the type of insurance coverage provided,
for example, property, liability and boiler and machinery; they also
define how comprehensive each type of coverage is—what is included
and what is excluded
property exposure to loss - - ANS✔️--loss related to either tangible
community association property (buildings and contents) or intangible
association property (information, proprietary Web site, etc.)
real property - - ANS✔️--includes buildings, land, and the newest type of
property exposure
risk financing - - ANS✔️--the process of obtaining resources to pay for
any financial consequences of accidental loss
,segregation of exposure - - ANS✔️--involves the duplication or
separation of property exposures to loss
third-party insurance - - ANS✔️--liability coverage purchased by an
insured (the first party) from an insurer (the second party) for
protection against claims of another (third party)
waiver of subrogation - - ANS✔️--the insurer waives its right to require
the association to transfer recovery rights to the insurer regarding unit
owners
emergency services maintenance - - ANS✔️--the ability to respond to
unpredictable problems (for example, sewer backups, slope failures,
roof leaks and frozen pipes); the key to a successful response is to
anticipate the different possibilities—and to develop a plan for
responding to each one
,facilities management - - ANS✔️--the process of operating, maintaining,
repairing, and replacing common property—that is, the common
elements or areas
inspection report - - ANS✔️--commonly called a "punch list," this is a
compilation of all the maintenance needs identified during a walk-
through
maintenance contact sheet - - ANS✔️--a useful management control to
record various vendor services and information needed in case of an
emergency
maintenance record - - ANS✔️--tells you when the maintenance was
actually done
management control - - ANS✔️--any means used to track, record, remind
or command attention; usually these means are forms or documents
, preventative maintenance - - ANS✔️--this is periodic upkeep to avoid
disruptive breakdowns and to prolong the useful life of the physical
asset in question
requested or corrective maintenance - - ANS✔️--requested by an owner,
a tenant, or the board—or identified during routine inspection of the
property
responsibility chart - - ANS✔️--a management control used to keep
track of who is accountable for the maintenance of various property
elements or areas
scheduled replacement - - ANS✔️--consists of replacing physical assets
as they wear out or break; considered a part of maintenance because
it addresses the useful life of a physical asset
work order/response form - - ANS✔️--a form for assigning work to be
done in any one of the five maintenance programs described earlier
