GEORGIA COMMUNITY ASSOCIATION
MANAGER STUDY GUIDE QUESTIONS
MASTERY BANK
Question 1
Under Georgia Real Estate License Law, the
Community Association Manager (CAM) license
category was officially established in which year?
A) 1925
B) 1974
C) 1996
D) 2002
Answer: C
Rationale: While the Georgia Real Estate
Commission was created in 1925 to regulate
brokers, the specific CAM license classification was
enacted by the state legislature in 1996 to address
the growing community association industry.
Question 2
The Georgia Real Estate Commission (GREC) is
comprised of six members. How many of these
members must hold an active real estate license?
A) 3
B) 4
,C) 5
D) 6
Answer: C
Rationale: Five of the six members must be licensed
real estate professionals who have been residents
of Georgia for at least five years. The sixth member
must be an unlicensed member of the general
public representing consumer interests.
Question 3
An individual who passes the Georgia CAM exam
must activate their license with an active broker
within what timeframe to avoid paying a doubled
registration fee?
A) 30 days
B) 3 months
C) 6 months
D) 12 months
Answer: B
Rationale: GREC requires exam passers to apply for
their license within 3 months to pay standard fees.
Between 3 and 12 months, the fee doubles. After 12
months, the exam score expires completely.
Question 4
,A Georgia broker who manages community
association funds must maintain a fidelity bond or
insurance policy if the total amount of funds
handled across all associations exceeds which
statutory threshold?
A) $10,000
B) $25,000
C) $50,000
D) $60,000
Answer: D
Rationale: Georgia License Law explicitly dictates
that if a broker handles, controls, or has access to
more than $60,000 in total association funds, a
fidelity bond or equivalent insurance must be
maintained.
Question 5
When a management agreement between a broker
and a community association is terminated, the
broker must return all original records and funds to
the association within a maximum of how many
days?
A) 10 days
B) 30 days
C) 45 days
, D) 60 days
Answer: D
Rationale: Georgia law requires the broker to
transfer custody of all association books, records,
documents, and funds back to the board of directors
within 60 days of the contract termination date.
Question 6
Which of the following activities requires an
individual to hold an active Georgia CAM or Real
Estate license?
A) An association member managing their own
single community as an unpaid volunteer.
B) A full-time, direct employee of a real estate
owner managing only that owner's properties.
C) An independent contractor collecting monthly
assessments for multiple community associations.
D) A licensed CPA preparing a standard annual
financial audit for an HOA board.
Answer: C
Rationale: Managing properties, controlling funds,
or collecting assessments for multiple associations
for compensation as an independent operator
strictly requires a license under Georgia law.
MANAGER STUDY GUIDE QUESTIONS
MASTERY BANK
Question 1
Under Georgia Real Estate License Law, the
Community Association Manager (CAM) license
category was officially established in which year?
A) 1925
B) 1974
C) 1996
D) 2002
Answer: C
Rationale: While the Georgia Real Estate
Commission was created in 1925 to regulate
brokers, the specific CAM license classification was
enacted by the state legislature in 1996 to address
the growing community association industry.
Question 2
The Georgia Real Estate Commission (GREC) is
comprised of six members. How many of these
members must hold an active real estate license?
A) 3
B) 4
,C) 5
D) 6
Answer: C
Rationale: Five of the six members must be licensed
real estate professionals who have been residents
of Georgia for at least five years. The sixth member
must be an unlicensed member of the general
public representing consumer interests.
Question 3
An individual who passes the Georgia CAM exam
must activate their license with an active broker
within what timeframe to avoid paying a doubled
registration fee?
A) 30 days
B) 3 months
C) 6 months
D) 12 months
Answer: B
Rationale: GREC requires exam passers to apply for
their license within 3 months to pay standard fees.
Between 3 and 12 months, the fee doubles. After 12
months, the exam score expires completely.
Question 4
,A Georgia broker who manages community
association funds must maintain a fidelity bond or
insurance policy if the total amount of funds
handled across all associations exceeds which
statutory threshold?
A) $10,000
B) $25,000
C) $50,000
D) $60,000
Answer: D
Rationale: Georgia License Law explicitly dictates
that if a broker handles, controls, or has access to
more than $60,000 in total association funds, a
fidelity bond or equivalent insurance must be
maintained.
Question 5
When a management agreement between a broker
and a community association is terminated, the
broker must return all original records and funds to
the association within a maximum of how many
days?
A) 10 days
B) 30 days
C) 45 days
, D) 60 days
Answer: D
Rationale: Georgia law requires the broker to
transfer custody of all association books, records,
documents, and funds back to the board of directors
within 60 days of the contract termination date.
Question 6
Which of the following activities requires an
individual to hold an active Georgia CAM or Real
Estate license?
A) An association member managing their own
single community as an unpaid volunteer.
B) A full-time, direct employee of a real estate
owner managing only that owner's properties.
C) An independent contractor collecting monthly
assessments for multiple community associations.
D) A licensed CPA preparing a standard annual
financial audit for an HOA board.
Answer: C
Rationale: Managing properties, controlling funds,
or collecting assessments for multiple associations
for compensation as an independent operator
strictly requires a license under Georgia law.
