visual-c++ - what does these exceptions mean?

Question

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what does this mfc appliction “First-chance exception” exception mean?

First-chance exception at 0x00939044 in Media.exe: 0xC0000005: Access violation reading location 0x00000048.

Unhandled exception at 0x77b515de (ntdll.dll) in Media.exe: 0xC0000005: Access violation reading location 0x00000048