CAM - COMMUNITY ASSOCIATION MANAGER LICENSE
GA EXAM WITH ALL CORRECT & 100% VERIFIED
ANSWERS|ALREADY GRADED A+
The Year 1925 ✔Correct Answer-License Law enacted and the GREC (Georgia Real Estate
Commission) was created to protect from harmful acts of Real Estate brokers.
GREC ✔Correct Answer-Georgia Real Estate Commission; holds 6 members. 1 of which is not RE
(real estate) licensed
GREC's Authority ✔Correct 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 ✔Correct Answer-CAM Created in GA
Licensee ✔Correct Answer-a salesperson, associate broker, broker, or community association
manager
Broker ✔Correct Answer-any person who or entity that collects assessments or performs
community association management services; AKA Top Dog of RE Ladder
Community Association ✔Correct 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) ✔Correct 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? ✔Correct 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?
✔Correct Answer-NO! Either surrender the license or find a broker that will hire you.
CAM is to Broker as Agent is to ✔Correct Answer-Principal
Community Association is to Broker as Principal is to ✔Correct Answer-Agent
When hired by a brokerage, do I need to notify the GREC? ✔Correct Answer-Yes.
,Does a salesperson and CAM have no authority without a broker? ✔Correct Answer-Yes. They are
the ones to assign your role and duties.
CAM & Salesperson Requirement for Age ✔Correct Answer-18
CAM, Salesperson, & Broker Requirement for Education ✔Correct Answer-High School Diploma or
Equivalent
CAM Course Requirement ✔Correct Answer-25-Hour Commission Approved Course and Test
GREC Qualifying Broker Requirements ✔Correct 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? ✔Correct 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? ✔Correct 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? ✔Correct 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? ✔Correct
Answer-30 days. Must return complete and accurate records of all financials, funds, and any
documents or records received on the Associations behalf
Severability ✔Correct Answer-cancelling the whole or part of a contract
Term of a Contract ✔Correct Answer-Length of time it is valid; REQUIRED on ALL contracts
When is Fidelity Insurance Required? ✔Correct 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? ✔Correct 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: ✔Correct Answer-
Term Clause
Who determines the duties of a licensed CAM? ✔Correct Answer-The qualifying broker
What are the two types of property? ✔Correct Answer-Real and Personal
Personal Property ✔Correct Answer-All property which is movable in nature (i.e. furniture, crops,
cut timber)
, Real Property ✔Correct 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? ✔Correct Answer-Bill of Sale
To Sell Real Property, What type of document is needed? ✔Correct Answer-Deed
What is required on a deed to sell real property in GA? ✔Correct 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 ✔Correct Answer-The seller or Giver of the property
Grantee ✔Correct Answer-Receiver of the property
How is a deed valid or enforcable? ✔Correct 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? ✔Correct Answer-1. Short Form Legal
2. Long Form Legal
3. Condominium Legal
Short Form Legal Description Requirements ✔Correct Answer-State and county where property is
located
Land lot, district and section
Subdivision/project name
Lot numbner and Block
Plat book and page number where the plat is recorded in the county land records
Long Form Legal Description Requirements ✔Correct Answer-Known as Metes and Bounds (aka, a
set point of earth as described and the perimeter which includes degrees, minutes, seconds, and
compass bearings)
Condominium Legal Description Requirements ✔Correct Answer-Condominium unit number
Name and recording information for the Declaration of Condominium
Reference to recording info for the plat and floor plans
Warranty Deed ✔Correct Answer-Grantor is warranting/promising to the grantee that there has
never been anything wrong with the ownership interests in the chain of title of the property
GA EXAM WITH ALL CORRECT & 100% VERIFIED
ANSWERS|ALREADY GRADED A+
The Year 1925 ✔Correct Answer-License Law enacted and the GREC (Georgia Real Estate
Commission) was created to protect from harmful acts of Real Estate brokers.
GREC ✔Correct Answer-Georgia Real Estate Commission; holds 6 members. 1 of which is not RE
(real estate) licensed
GREC's Authority ✔Correct 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 ✔Correct Answer-CAM Created in GA
Licensee ✔Correct Answer-a salesperson, associate broker, broker, or community association
manager
Broker ✔Correct Answer-any person who or entity that collects assessments or performs
community association management services; AKA Top Dog of RE Ladder
Community Association ✔Correct 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) ✔Correct 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? ✔Correct 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?
✔Correct Answer-NO! Either surrender the license or find a broker that will hire you.
CAM is to Broker as Agent is to ✔Correct Answer-Principal
Community Association is to Broker as Principal is to ✔Correct Answer-Agent
When hired by a brokerage, do I need to notify the GREC? ✔Correct Answer-Yes.
,Does a salesperson and CAM have no authority without a broker? ✔Correct Answer-Yes. They are
the ones to assign your role and duties.
CAM & Salesperson Requirement for Age ✔Correct Answer-18
CAM, Salesperson, & Broker Requirement for Education ✔Correct Answer-High School Diploma or
Equivalent
CAM Course Requirement ✔Correct Answer-25-Hour Commission Approved Course and Test
GREC Qualifying Broker Requirements ✔Correct 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? ✔Correct 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? ✔Correct 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? ✔Correct 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? ✔Correct
Answer-30 days. Must return complete and accurate records of all financials, funds, and any
documents or records received on the Associations behalf
Severability ✔Correct Answer-cancelling the whole or part of a contract
Term of a Contract ✔Correct Answer-Length of time it is valid; REQUIRED on ALL contracts
When is Fidelity Insurance Required? ✔Correct 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? ✔Correct 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: ✔Correct Answer-
Term Clause
Who determines the duties of a licensed CAM? ✔Correct Answer-The qualifying broker
What are the two types of property? ✔Correct Answer-Real and Personal
Personal Property ✔Correct Answer-All property which is movable in nature (i.e. furniture, crops,
cut timber)
, Real Property ✔Correct 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? ✔Correct Answer-Bill of Sale
To Sell Real Property, What type of document is needed? ✔Correct Answer-Deed
What is required on a deed to sell real property in GA? ✔Correct 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 ✔Correct Answer-The seller or Giver of the property
Grantee ✔Correct Answer-Receiver of the property
How is a deed valid or enforcable? ✔Correct 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? ✔Correct Answer-1. Short Form Legal
2. Long Form Legal
3. Condominium Legal
Short Form Legal Description Requirements ✔Correct Answer-State and county where property is
located
Land lot, district and section
Subdivision/project name
Lot numbner and Block
Plat book and page number where the plat is recorded in the county land records
Long Form Legal Description Requirements ✔Correct Answer-Known as Metes and Bounds (aka, a
set point of earth as described and the perimeter which includes degrees, minutes, seconds, and
compass bearings)
Condominium Legal Description Requirements ✔Correct Answer-Condominium unit number
Name and recording information for the Declaration of Condominium
Reference to recording info for the plat and floor plans
Warranty Deed ✔Correct Answer-Grantor is warranting/promising to the grantee that there has
never been anything wrong with the ownership interests in the chain of title of the property
