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BSC 1005 Exam 2 Review (FAMU Prof. C.O) correctly answered to pass

PTCB Exam Prep : Complete Study Guide Exam Prep

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage Answer a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agr...

This document gives examples and definitions of words in medical terminology. Most words are used in the medical field.

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This document helps you obtain information about a certain lesson in medical terminology. This document provides definitions and examples to help enhance your knowledge.

A Community is defined as - Answer Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and with specific rights granted to the members. Community Associations are structured by - Answer Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also refered to as - Answer ...

When is a CIC created? - Answer A CIC is created when the declaration (CC&Rs) is recorded with the county. No later than the date the first unit is conveyed How many elected board members are required under NRS 116B, once the declarant's control of a condominium hotel terminates? - Answer 3 A common interest community is? - Answer Real estate described in a declaration in which individual unit owners are required to pay a portion of the expenses related to the common elements. ...

Community Association (Definition) - Answer a residential homeowners' association in which membership is a condition of ownership (mandatory) of a unit in a planned unit development, or of a lot for a home or a mobile home, or of a townhouse, villa, condominium, cooperative, or other residential unit which is part of a residential development scheme and which is authorized to impose a fee (assessment) which may become a lien on the parcel. Assessment - Answer The amount of money a unit...

What are 6 ways to generate and collect income? - Answer 1. Rent 2. Parking 3. Cable, internet 4. Clubhouse rental 5. Fees: late, pet 6. Laundry/Vending What are 6 controllable expenses? - Answer 1. Salaries personnel 2. Insurance 3. Utilities 4. Taxes 5. Advertising 6. Maintenance What 3 questions should you ask when performing a financial analysis? - Answer 1. How well has a property performed over a specific time period. 2. Where does a property stand at a given d...