CAM - Community Association Manager
License GA
In-class activity
Questions
and Answers 100% Correct
The Year 1925✔✔License Law enacted and the GREC (Georgia Real Estate Commission) was
created to protect from harmful acts of Real Estate brokers.
GREC✔✔Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate)
licensed
GREC's Authority✔✔Can Issue or Deny RE (real estate) Licenses, Can discipline by revoking,
suspending, warning, or fining, Can set rules and regs, and Establishes fees
The Year 1996✔✔CAM Created in GA
Licensee✔✔a salesperson, associate broker, broker, or community association manager
Broker✔✔any person who or entity that collects assessments or performs community association
management services; AKA Top Dog of RE Ladder
Community Association✔✔an organization in which common area property is owned or
managed by an association in which membership is mandatory as an incident of ownership
within the community
CAM (community association manager)✔✔providing management or admin services to the
operation of affairs of a community association which includes collecting, controlling, or
,disbursing the funds, obtaining insurance, arranging/coordinating maintenance and overseeing
the day-to-day operations of the association
Who can provide CAM services WITHOUT a license?✔✔1. Developer
2. Anyone that works FULLTIME directly for the developer
3. Anyone hired on a FULLTIME basis by the HOA
4. A member of the community association that works for that specific CA ONLY (doesn't matter
if full or part-time)
5. Anyone performing maintenance on the property
6. A CPA (certified public accountant)
7. A licensed practicing attorney
Can I hold a license, but provide CAM services directly to my own community that I am a
member of?✔✔NO! Either surrender the license or find a broker that will hire you.
CAM is to Broker as Agent is to✔✔Principal
Community Association is to Broker as Principal is to✔✔Agent
When hired by a brokerage, do I need to notify the GREC?✔✔Yes.
Does a salesperson and CAM have no authority without a broker?✔✔Yes. They are the ones to
assign your role and duties.
CAM & Salesperson Requirement for Age✔✔18
CAM, Salesperson, & Broker Requirement for Education✔✔High School Diploma or
Equivalent
,CAM Course Requirement✔✔25-Hour Commission Approved Course and Test
GREC Qualifying Broker Requirements✔✔1. Must be a human being
2. Must be an officer or top title holder of company (i.e. partner, manager, owner, etc)
3. Authority to bind the brokerage company (able to sign contracts with CA's)
4. A signatory on all trust accounts held by the brokerage
As a broker, can I solicit business from another brokerage?✔✔NO! You must have written
approval from the current brokerage of the CA prior to trying to poach them.
Do brokers need permission to sell RE in a community they also manage?✔✔Yes. It is normally
in the management contract, however if the broker thinks far enough ahead.
Can I, as a CAM, sell my house without notifying anyone?✔✔No! You must disclose to your RE
agent that you are licensed. Also, you MUST FIRST check with your broker prior to going into
contract with another brokerage company because this could be lost revenue to your broker's
business.
How long does the broker have to return documents after termination of contract?✔✔30 days.
Must return complete and accurate records of all financials, funds, and any documents or records
received on the Associations behalf
Severability✔✔cancelling the whole or part of a contract
Term of a Contract✔✔Length of time it is valid; REQUIRED on ALL contracts
When is Fidelity Insurance Required?✔✔Required when a broker has access to more than
$60,000 in funds to be covered by a bond (insurance)
, How much should fidelity insurance cover?✔✔It should cover the maximum amount of funds
that the broker has access to, but should never be less than the sum of 3 month assessments due
from all members of the association and the reserve funds combined
Exclusive management agreement with community associations must contain a:✔✔Term Clause
Who determines the duties of a licensed CAM?✔✔The qualifying broker
What are the two types of property?✔✔Real and Personal
Personal Property✔✔All property which is movable in nature (i.e. furniture, crops, cut timber)
Real Property✔✔All things permanently attached to the land or to the buildings (i.e. soil,
concrete bed the house is on, house walls)
To Sell Personal Property, What type of Document is Needed?✔✔Bill of Sale
To Sell Real Property, What type of document is needed?✔✔Deed
What is required on a deed to sell real property in GA?✔✔1. Name and signature of grantor
2. Name of grantee
3. Legal description of property
4. Sentence or two explaining the value/consideration being received by the grantor to grantee
5. Sentence explaining what the grantor is conveying/rights given to the grantee (example:
allowing them to purchase air rights, tree rights?)
Grantor✔✔The seller or Giver of the property
License GA
In-class activity
Questions
and Answers 100% Correct
The Year 1925✔✔License Law enacted and the GREC (Georgia Real Estate Commission) was
created to protect from harmful acts of Real Estate brokers.
GREC✔✔Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate)
licensed
GREC's Authority✔✔Can Issue or Deny RE (real estate) Licenses, Can discipline by revoking,
suspending, warning, or fining, Can set rules and regs, and Establishes fees
The Year 1996✔✔CAM Created in GA
Licensee✔✔a salesperson, associate broker, broker, or community association manager
Broker✔✔any person who or entity that collects assessments or performs community association
management services; AKA Top Dog of RE Ladder
Community Association✔✔an organization in which common area property is owned or
managed by an association in which membership is mandatory as an incident of ownership
within the community
CAM (community association manager)✔✔providing management or admin services to the
operation of affairs of a community association which includes collecting, controlling, or
,disbursing the funds, obtaining insurance, arranging/coordinating maintenance and overseeing
the day-to-day operations of the association
Who can provide CAM services WITHOUT a license?✔✔1. Developer
2. Anyone that works FULLTIME directly for the developer
3. Anyone hired on a FULLTIME basis by the HOA
4. A member of the community association that works for that specific CA ONLY (doesn't matter
if full or part-time)
5. Anyone performing maintenance on the property
6. A CPA (certified public accountant)
7. A licensed practicing attorney
Can I hold a license, but provide CAM services directly to my own community that I am a
member of?✔✔NO! Either surrender the license or find a broker that will hire you.
CAM is to Broker as Agent is to✔✔Principal
Community Association is to Broker as Principal is to✔✔Agent
When hired by a brokerage, do I need to notify the GREC?✔✔Yes.
Does a salesperson and CAM have no authority without a broker?✔✔Yes. They are the ones to
assign your role and duties.
CAM & Salesperson Requirement for Age✔✔18
CAM, Salesperson, & Broker Requirement for Education✔✔High School Diploma or
Equivalent
,CAM Course Requirement✔✔25-Hour Commission Approved Course and Test
GREC Qualifying Broker Requirements✔✔1. Must be a human being
2. Must be an officer or top title holder of company (i.e. partner, manager, owner, etc)
3. Authority to bind the brokerage company (able to sign contracts with CA's)
4. A signatory on all trust accounts held by the brokerage
As a broker, can I solicit business from another brokerage?✔✔NO! You must have written
approval from the current brokerage of the CA prior to trying to poach them.
Do brokers need permission to sell RE in a community they also manage?✔✔Yes. It is normally
in the management contract, however if the broker thinks far enough ahead.
Can I, as a CAM, sell my house without notifying anyone?✔✔No! You must disclose to your RE
agent that you are licensed. Also, you MUST FIRST check with your broker prior to going into
contract with another brokerage company because this could be lost revenue to your broker's
business.
How long does the broker have to return documents after termination of contract?✔✔30 days.
Must return complete and accurate records of all financials, funds, and any documents or records
received on the Associations behalf
Severability✔✔cancelling the whole or part of a contract
Term of a Contract✔✔Length of time it is valid; REQUIRED on ALL contracts
When is Fidelity Insurance Required?✔✔Required when a broker has access to more than
$60,000 in funds to be covered by a bond (insurance)
, How much should fidelity insurance cover?✔✔It should cover the maximum amount of funds
that the broker has access to, but should never be less than the sum of 3 month assessments due
from all members of the association and the reserve funds combined
Exclusive management agreement with community associations must contain a:✔✔Term Clause
Who determines the duties of a licensed CAM?✔✔The qualifying broker
What are the two types of property?✔✔Real and Personal
Personal Property✔✔All property which is movable in nature (i.e. furniture, crops, cut timber)
Real Property✔✔All things permanently attached to the land or to the buildings (i.e. soil,
concrete bed the house is on, house walls)
To Sell Personal Property, What type of Document is Needed?✔✔Bill of Sale
To Sell Real Property, What type of document is needed?✔✔Deed
What is required on a deed to sell real property in GA?✔✔1. Name and signature of grantor
2. Name of grantee
3. Legal description of property
4. Sentence or two explaining the value/consideration being received by the grantor to grantee
5. Sentence explaining what the grantor is conveying/rights given to the grantee (example:
allowing them to purchase air rights, tree rights?)
Grantor✔✔The seller or Giver of the property
