0042-001 processing error encountered on the master - NIM

Problem

During an attempt to create the mksysb resource of a NIM client from the master, the following errors occur:

 0042-001 processing error encountered on the master
   0042-001 m_mkbosi processing error on client
   0042-175 c_mkbosi unexpected result for /usr/sbin/mount
   1831-011 mount - access denied for  for 
   1831-008 Giving up on  . Permissions do 
   not allow the specified action.

Solution

Determine the location of the resource (for example, /nim/mksysb).
Look in /etc/exports for an entry for /nim/mksysb as read only.
If one exists, remove all the entries from /etc/exports for /nim and /nim/mksysb.
Now the process should work fine.