Community Association Manager (CAM) EXAM LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS | pdf studyguide
What steps must be taken to dissolve a community association? SELECTED ANSWER
👀**
1. BOD recommends dissolution to the members
2. Majority of members (usually a high percentage in bylaws) must approve dissolution
3. BOD adopts a plan of dissolution to distribute assets and liabilities
4. Notice of Intent to Dissolve is filed with the Secretary of State and published
5. BOD liquidates assets and pays all corporate debts
6. Articles of Dissolution are filed with the Secretary of State
If a community association fails to pay the annual registration fees to the Secretary of State,
What can happen? SELECTED ANSWER 👀** The community association may be
administratively dissolved. However, upon completion of a reinstatement form and dues and
fees paid, the Corporation will be reinstated back to the date of its dissolvement, as if
dissolution never happened.
Reinstatement is not available for corps that have been administratively dissolved for more
than *BLANK* years. SELECTED ANSWER 👀** 5
Can a GCA be any type of architectural style? SELECTED ANSWER 👀** Yes.
True or False: The GCA states that if declaration allows it, then for the first 24 months,
declarant can be exempt from assessments if the declarant pays the difference between
fees assessed against other owners and actual common expenses SELECTED ANSWER
👀** True
,In a POAA, is there an exemption for paying assessments? SELECTED ANSWER 👀**
Yes. All owners are required to pay assessments to the association unless they request an
exemption in writing and surrender the voting rights for the lot for the term of the exemption
Typically, who elects the first board of directors? SELECTED ANSWER 👀** The
developer
Turnover SELECTED ANSWER 👀** A term used in the community association industry
to define when the board of directions of a community changes from a developer-appointed
group to an owner-elected group
True or False: Only condominium corporations are bound by specific state law referencing
the turnover process SELECTED ANSWER 👀** True! All other corps are governed by
their own community's legal documents
The GCA states that the declarant loses the right to appoint and remove directors and
officers in a One Phase condominium project on or earlier of: SELECTED ANSWER 👀**
1. The date that 80% of the undivided interest in the common elements have been sold
(technically 80% of property sold)
2. THREE years after recording the declaration
3. Or the date that the declarant voluntarily surrenders this right
If the condominium project is phased (or expandable) past One Phase, the declarant loses
the right to appoint and remove directors and officers in a phased project on or the earlier
of: SELECTED ANSWER 👀** 1. The date that 80% of the undivided interest in the
common elements have been sold, unless the declarant still has the right to unilaterally
(right to choose) add more property (again technically means 80% sold UNLESS the
developer/declarant has the right to add more property which would cancel out the
percentage)
,2. SEVEN years after recording the declaration
3. The date that the declarant voluntarily surrenders this right
In an HOA, when does a developer/declarant have to turnover? SELECTED ANSWER
👀** There is no set amount of time. It will normally be written in the bylaws/declaration , but
can be as long as they wish!
What are the reasons that owners in a GCA or POAA may have the right to control the
association from the declarant? SELECTED ANSWER 👀** If the declarant fails to do any
of the following:
1. Incorporate or maintain an annual registration
2. Cause the board to be duly appointed and the officers to be elected
3. Maintain and make available to owners, upon written request, a list of names and
business or home addressed of the association's current directors and officers
4. Call meetings of the members of the association according to the bylaws and at least
annually
5. Prepare annual budget, establish assessments, distribute budget and notice of
assessment to owners no later than 30 days after the beginning of the fiscal year
6.Pay property taxes on common property of the association for two or more years
When a declarant fails to do certain things listed, the unit owners can provide the declarant
a *BLANK* days notice to cure the failure and, thereafter, shall have standing to sue to get a
court order for an election and turnover. SELECTED ANSWER 👀** 30
What does the Board of Directors do? SELECTED ANSWER 👀** 1. Makes all decisions
about the day-to-day operations and managements of the community
2. Protects assets of corporation
3. Creates and revised budget and decides how money should be spent
, 4. Established collection procedures
5. Develops rules and regulations and enforcement mechanisms for violations
6. Decides if/when to litigate to collect past due fees and enforce covenants
7. Hires and supervises employees and independent contractors (aka. CPAs, attorneys,
maintenance personnel)
8. Coordinates physical maintenance of the common areas
What do the Officers do? SELECTED ANSWER 👀** Carry out the decisions of the board
members
What is the difference between the Board and the Officers? SELECTED ANSWER 👀** 1.
The board is elected by the owners/members of the community
2. The board elects/appoints the officers
3. The board makes the decisions and the officers carry out these decisions
When are Officers elected and for how long? SELECTED ANSWER 👀** 1. Board usually
decides officers at first board meeting after elections
2. Georgia law does not require officers to be picked from among the board members
3. Unless bylaws specify otherwise, officers can be completely different people from board
members
4. Usually officers serve one-year terms
What is the role of the President? SELECTED ANSWER 👀** 1. Acts as CEO of
Corporation
2. Presides over all association board and membership meetings
3. Creates agendas for all board and membership meetings
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS | pdf studyguide
What steps must be taken to dissolve a community association? SELECTED ANSWER
👀**
1. BOD recommends dissolution to the members
2. Majority of members (usually a high percentage in bylaws) must approve dissolution
3. BOD adopts a plan of dissolution to distribute assets and liabilities
4. Notice of Intent to Dissolve is filed with the Secretary of State and published
5. BOD liquidates assets and pays all corporate debts
6. Articles of Dissolution are filed with the Secretary of State
If a community association fails to pay the annual registration fees to the Secretary of State,
What can happen? SELECTED ANSWER 👀** The community association may be
administratively dissolved. However, upon completion of a reinstatement form and dues and
fees paid, the Corporation will be reinstated back to the date of its dissolvement, as if
dissolution never happened.
Reinstatement is not available for corps that have been administratively dissolved for more
than *BLANK* years. SELECTED ANSWER 👀** 5
Can a GCA be any type of architectural style? SELECTED ANSWER 👀** Yes.
True or False: The GCA states that if declaration allows it, then for the first 24 months,
declarant can be exempt from assessments if the declarant pays the difference between
fees assessed against other owners and actual common expenses SELECTED ANSWER
👀** True
,In a POAA, is there an exemption for paying assessments? SELECTED ANSWER 👀**
Yes. All owners are required to pay assessments to the association unless they request an
exemption in writing and surrender the voting rights for the lot for the term of the exemption
Typically, who elects the first board of directors? SELECTED ANSWER 👀** The
developer
Turnover SELECTED ANSWER 👀** A term used in the community association industry
to define when the board of directions of a community changes from a developer-appointed
group to an owner-elected group
True or False: Only condominium corporations are bound by specific state law referencing
the turnover process SELECTED ANSWER 👀** True! All other corps are governed by
their own community's legal documents
The GCA states that the declarant loses the right to appoint and remove directors and
officers in a One Phase condominium project on or earlier of: SELECTED ANSWER 👀**
1. The date that 80% of the undivided interest in the common elements have been sold
(technically 80% of property sold)
2. THREE years after recording the declaration
3. Or the date that the declarant voluntarily surrenders this right
If the condominium project is phased (or expandable) past One Phase, the declarant loses
the right to appoint and remove directors and officers in a phased project on or the earlier
of: SELECTED ANSWER 👀** 1. The date that 80% of the undivided interest in the
common elements have been sold, unless the declarant still has the right to unilaterally
(right to choose) add more property (again technically means 80% sold UNLESS the
developer/declarant has the right to add more property which would cancel out the
percentage)
,2. SEVEN years after recording the declaration
3. The date that the declarant voluntarily surrenders this right
In an HOA, when does a developer/declarant have to turnover? SELECTED ANSWER
👀** There is no set amount of time. It will normally be written in the bylaws/declaration , but
can be as long as they wish!
What are the reasons that owners in a GCA or POAA may have the right to control the
association from the declarant? SELECTED ANSWER 👀** If the declarant fails to do any
of the following:
1. Incorporate or maintain an annual registration
2. Cause the board to be duly appointed and the officers to be elected
3. Maintain and make available to owners, upon written request, a list of names and
business or home addressed of the association's current directors and officers
4. Call meetings of the members of the association according to the bylaws and at least
annually
5. Prepare annual budget, establish assessments, distribute budget and notice of
assessment to owners no later than 30 days after the beginning of the fiscal year
6.Pay property taxes on common property of the association for two or more years
When a declarant fails to do certain things listed, the unit owners can provide the declarant
a *BLANK* days notice to cure the failure and, thereafter, shall have standing to sue to get a
court order for an election and turnover. SELECTED ANSWER 👀** 30
What does the Board of Directors do? SELECTED ANSWER 👀** 1. Makes all decisions
about the day-to-day operations and managements of the community
2. Protects assets of corporation
3. Creates and revised budget and decides how money should be spent
, 4. Established collection procedures
5. Develops rules and regulations and enforcement mechanisms for violations
6. Decides if/when to litigate to collect past due fees and enforce covenants
7. Hires and supervises employees and independent contractors (aka. CPAs, attorneys,
maintenance personnel)
8. Coordinates physical maintenance of the common areas
What do the Officers do? SELECTED ANSWER 👀** Carry out the decisions of the board
members
What is the difference between the Board and the Officers? SELECTED ANSWER 👀** 1.
The board is elected by the owners/members of the community
2. The board elects/appoints the officers
3. The board makes the decisions and the officers carry out these decisions
When are Officers elected and for how long? SELECTED ANSWER 👀** 1. Board usually
decides officers at first board meeting after elections
2. Georgia law does not require officers to be picked from among the board members
3. Unless bylaws specify otherwise, officers can be completely different people from board
members
4. Usually officers serve one-year terms
What is the role of the President? SELECTED ANSWER 👀** 1. Acts as CEO of
Corporation
2. Presides over all association board and membership meetings
3. Creates agendas for all board and membership meetings
