CAM - COMMUNITY ASSOCIATION MANAGER LICENSE GA
EXAM | FROM QUESTION TO PERFECTION| STUDY WITH
CONFIDENCE!
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.
APPHIA – Crafted with Care and Precision for Academic Excellence.
1
, 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)
APPHIA – Crafted with Care and Precision for Academic Excellence.
2
EXAM | FROM QUESTION TO PERFECTION| STUDY WITH
CONFIDENCE!
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.
APPHIA – Crafted with Care and Precision for Academic Excellence.
1
, 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)
APPHIA – Crafted with Care and Precision for Academic Excellence.
2
