71. What is the Traded Player exception?
As described in question number 70, exceptions are the mechanisms that allow teams to function above the salary cap. Any trade which results in the team ending up over the salary cap requires an exception.
This is true even if the team is moving downward in salary. For example, if the salary cap is $50 million, a team has a team salary of $55 million, and they want to trade a $5 million player for a $4 million player, they still have to use an exception. Even though their team salary would be decreasing by $1 million, the fact that they would still be over the salary cap ($54 million) means that an exception is required.