CAM - Community Association Manager License
Exam Review Questions Answered Correctly
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.
GREC - Answer Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate)
licensed
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
The Year 1996 - Answer CAM Created in GA
Licensee - Answer a salesperson, associate broker, broker, or community association manager
Broker - Answer any person who or entity that collects assessments or performs community association
management services; AKA Top Dog of RE Ladder
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
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
Who can provide CAM services WITHOUT a license? - Answer 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? -
Answer NO! Either surrender the license or find a broker that will hire you.
CAM is to Broker as Agent is to - Answer Principal
Community Association is to Broker as Principal is to - Answer Agent
When hired by a brokerage, do I need to notify the GREC? - Answer Yes.
Does a salesperson and CAM have no authority without a broker? - Answer Yes. They are the ones to
assign your role and duties.
CAM & Salesperson Requirement for Age - Answer 18
CAM, Salesperson, & Broker Requirement for Education - Answer High School Diploma or Equivalent
CAM Course Requirement - Answer 25-Hour Commission Approved Course and Test
GREC Qualifying Broker Requirements - Answer 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? - Answer 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? - Answer 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? - 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.
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
Severability - Answer cancelling the whole or part of a contract
Term of a Contract - Answer Length of time it is valid; REQUIRED on ALL contracts
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)
How much should fidelity insurance cover? - Answer 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: - Answer Term Clause
Who determines the duties of a licensed CAM? - Answer The qualifying broker
What are the two types of property? - Answer Real and Personal
Personal Property - Answer All property which is movable in nature (i.e. furniture, crops, cut timber)
Real Property - Answer 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? - Answer Bill of Sale
To Sell Real Property, What type of document is needed? - Answer Deed
What is required on a deed to sell real property in GA? - Answer 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 - Answer The seller or Giver of the property
Grantee - Answer Receiver of the property
How is a deed valid or enforcable? - Answer As soon as it is signed by the grantor! However, for the
public to know, one must Record the deed in the county land records with the following:
1. One unofficial witness
2. One Official witness (usually a notary public)
3. Attestation of witnesses that it was signed in their presence
4. name and address of the grantee for the official document to be returned to once documented
What are the three types of Legal Descriptions? - Answer 1. Short Form Legal
2. Long Form Legal
3. Condominium Legal
Short Form Legal Description Requirements - Answer State and county where property is located
Land lot, district and section
Exam Review Questions Answered Correctly
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.
GREC - Answer Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate)
licensed
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
The Year 1996 - Answer CAM Created in GA
Licensee - Answer a salesperson, associate broker, broker, or community association manager
Broker - Answer any person who or entity that collects assessments or performs community association
management services; AKA Top Dog of RE Ladder
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
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
Who can provide CAM services WITHOUT a license? - Answer 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? -
Answer NO! Either surrender the license or find a broker that will hire you.
CAM is to Broker as Agent is to - Answer Principal
Community Association is to Broker as Principal is to - Answer Agent
When hired by a brokerage, do I need to notify the GREC? - Answer Yes.
Does a salesperson and CAM have no authority without a broker? - Answer Yes. They are the ones to
assign your role and duties.
CAM & Salesperson Requirement for Age - Answer 18
CAM, Salesperson, & Broker Requirement for Education - Answer High School Diploma or Equivalent
CAM Course Requirement - Answer 25-Hour Commission Approved Course and Test
GREC Qualifying Broker Requirements - Answer 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? - Answer 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? - Answer 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? - 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.
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
Severability - Answer cancelling the whole or part of a contract
Term of a Contract - Answer Length of time it is valid; REQUIRED on ALL contracts
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)
How much should fidelity insurance cover? - Answer 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: - Answer Term Clause
Who determines the duties of a licensed CAM? - Answer The qualifying broker
What are the two types of property? - Answer Real and Personal
Personal Property - Answer All property which is movable in nature (i.e. furniture, crops, cut timber)
Real Property - Answer 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? - Answer Bill of Sale
To Sell Real Property, What type of document is needed? - Answer Deed
What is required on a deed to sell real property in GA? - Answer 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 - Answer The seller or Giver of the property
Grantee - Answer Receiver of the property
How is a deed valid or enforcable? - Answer As soon as it is signed by the grantor! However, for the
public to know, one must Record the deed in the county land records with the following:
1. One unofficial witness
2. One Official witness (usually a notary public)
3. Attestation of witnesses that it was signed in their presence
4. name and address of the grantee for the official document to be returned to once documented
What are the three types of Legal Descriptions? - Answer 1. Short Form Legal
2. Long Form Legal
3. Condominium Legal
Short Form Legal Description Requirements - Answer State and county where property is located
Land lot, district and section
