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CAM - Community Association Manager License GA
EXAM ACTUAL EXAM ALL 400 NEWEST Questions and
CORRECT Answers LATEST UPDATE THIS YEAR
QUESTION: As a broker, can I solicit business from another brokerage? - ANSWER-NO! You must
have written approval from the current brokerage of the CA prior to trying to poach them.
QUESTION: Do brokers need permission to sell RE in a community they also manage? -
ANSWER-Yes. It is normally in the management contract, however if the broker thinks far
enough ahead.
QUESTION: Can I, as a CAM, sell my house without notifying anyone? - ANSWER-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.
QUESTION: How long does the broker have to return documents after termination of contract?
- ANSWER-30 days. Must return complete and accurate records of all financials, funds, and any
documents or records received on the Associations behalf
1 ALL THE BEST CHAMP!!
, Page 2 of 75
QUESTION: Severability - ANSWER-cancelling the whole or part of a contract
QUESTION: Term of a Contract - ANSWER-Length of time it is valid; REQUIRED on ALL contracts
QUESTION: When is Fidelity Insurance Required? - ANSWER-Required when a broker has access
to more than $60,000 in funds to be covered by a bond (insurance)
Q; The Year 1925 - ANSWER-License Law enacted and the GREC (Georgia Real Estate
Commission) was created to protect from harmful acts of Real Estate brokers.
QUESTION: GREC - ANSWER-Georgia Real Estate Commission; holds 6 members. 1 of which is
not RE (real estate) licensed
QUESTION: GREC's Authority - ANSWER-Can Issue or Deny RE (real estate) Licenses, Can
discipline by revoking, suspending, warning, or fining, Can set rules and regs, and Establishes
fees
1 ALL THE BEST CHAMP!!
, Page 3 of 75
QUESTION: The Year 1996 - ANSWER-CAM Created in GA
QUESTION: Licensee - ANSWER-a salesperson, associate broker, broker, or community
association manager
QUESTION: Broker - ANSWER-any person who or entity that collects assessments or performs
community association management services; AKA Top Dog of RE Ladder
QUESTION: Community Association - ANSWER-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
QUESTION: CAM (community association manager) - ANSWER-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
QUESTION: Who can provide CAM services WITHOUT a license? - ANSWER-1. Developer
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, Page 4 of 75
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
QUESTION: Can I hold a license, but provide CAM services directly to my own community that I
am a member of? - ANSWER-NO! Either surrender the license or find a broker that will hire you.
QUESTION: CAM is to Broker as Agent is to - ANSWER-Principal
QUESTION: Community Association is to Broker as Principal is to - ANSWER-Agent
QUESTION: When hired by a brokerage, do I need to notify the GREC? - ANSWER-Yes.
1 ALL THE BEST CHAMP!!
CAM - Community Association Manager License GA
EXAM ACTUAL EXAM ALL 400 NEWEST Questions and
CORRECT Answers LATEST UPDATE THIS YEAR
QUESTION: As a broker, can I solicit business from another brokerage? - ANSWER-NO! You must
have written approval from the current brokerage of the CA prior to trying to poach them.
QUESTION: Do brokers need permission to sell RE in a community they also manage? -
ANSWER-Yes. It is normally in the management contract, however if the broker thinks far
enough ahead.
QUESTION: Can I, as a CAM, sell my house without notifying anyone? - ANSWER-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.
QUESTION: How long does the broker have to return documents after termination of contract?
- ANSWER-30 days. Must return complete and accurate records of all financials, funds, and any
documents or records received on the Associations behalf
1 ALL THE BEST CHAMP!!
, Page 2 of 75
QUESTION: Severability - ANSWER-cancelling the whole or part of a contract
QUESTION: Term of a Contract - ANSWER-Length of time it is valid; REQUIRED on ALL contracts
QUESTION: When is Fidelity Insurance Required? - ANSWER-Required when a broker has access
to more than $60,000 in funds to be covered by a bond (insurance)
Q; The Year 1925 - ANSWER-License Law enacted and the GREC (Georgia Real Estate
Commission) was created to protect from harmful acts of Real Estate brokers.
QUESTION: GREC - ANSWER-Georgia Real Estate Commission; holds 6 members. 1 of which is
not RE (real estate) licensed
QUESTION: GREC's Authority - ANSWER-Can Issue or Deny RE (real estate) Licenses, Can
discipline by revoking, suspending, warning, or fining, Can set rules and regs, and Establishes
fees
1 ALL THE BEST CHAMP!!
, Page 3 of 75
QUESTION: The Year 1996 - ANSWER-CAM Created in GA
QUESTION: Licensee - ANSWER-a salesperson, associate broker, broker, or community
association manager
QUESTION: Broker - ANSWER-any person who or entity that collects assessments or performs
community association management services; AKA Top Dog of RE Ladder
QUESTION: Community Association - ANSWER-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
QUESTION: CAM (community association manager) - ANSWER-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
QUESTION: Who can provide CAM services WITHOUT a license? - ANSWER-1. Developer
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, Page 4 of 75
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
QUESTION: Can I hold a license, but provide CAM services directly to my own community that I
am a member of? - ANSWER-NO! Either surrender the license or find a broker that will hire you.
QUESTION: CAM is to Broker as Agent is to - ANSWER-Principal
QUESTION: Community Association is to Broker as Principal is to - ANSWER-Agent
QUESTION: When hired by a brokerage, do I need to notify the GREC? - ANSWER-Yes.
1 ALL THE BEST CHAMP!!
