) Practice Exam Questions and
Answers Verified Solutions Latest
Update
Question:
GREC .
Answer:
Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate)
licensed
Question:
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
Question:
The Year 1996 .
Answer:
CAM Created in GA
Question:
Licensee .
Answer:
a salesperson, associate broker, broker, or community association manager
,Question:
Broker .
Answer:
any person who or entity that collects assessments or performs community association
management services; AKA Top Dog of RE Ladder
Question:
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
Question:
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
Question:
Who can provide CAM services WITHOUT a license? .
Answer:
Question:
Developer
Question:
Anyone that works FULLTIME directly for the developer
Question:
Anyone hired on a FULLTIME basis by the HOA
,Question:
A member of the community association that works for that specific CA ONLY (doesn't
matter if full or part-time)
Question:
Anyone performing maintenance on the property
Question:
A CPA (certified public accountant)
Question:
A licensed practicing attorney
Question:
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.
Question:
CAM is to Broker as Agent is to .
Answer:
Principal
Question:
Community Association is to Broker as Principal is to .
Answer:
Agent
Question:
When hired by a brokerage, do I need to notify the GREC? .
Answer:
Yes.
, Question:
Does a salesperson and CAM have no authority without a broker? .
Answer:
Yes. They are the ones to assign your role and duties.
Question:
CAM & Salesperson Requirement for Age .
Answer:
18
Question:
CAM, Salesperson, & Broker Requirement for Education .
Answer:
High School Diploma or Equivalent
Question:
CAM Course Requirement .
Answer:
25-Hour Commission Approved Course and Test
Question:
GREC Qualifying Broker Requirements .
Answer:
1. Must be a human being
Question:
Must be an officer or top title holder of company (i.e. partner, manager, owner, etc)
Question:
Authority to bind the brokerage company (able to sign contracts with CA's)
Question:
A signatory on all trust accounts held by the brokerage
Answers Verified Solutions Latest
Update
Question:
GREC .
Answer:
Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate)
licensed
Question:
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
Question:
The Year 1996 .
Answer:
CAM Created in GA
Question:
Licensee .
Answer:
a salesperson, associate broker, broker, or community association manager
,Question:
Broker .
Answer:
any person who or entity that collects assessments or performs community association
management services; AKA Top Dog of RE Ladder
Question:
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
Question:
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
Question:
Who can provide CAM services WITHOUT a license? .
Answer:
Question:
Developer
Question:
Anyone that works FULLTIME directly for the developer
Question:
Anyone hired on a FULLTIME basis by the HOA
,Question:
A member of the community association that works for that specific CA ONLY (doesn't
matter if full or part-time)
Question:
Anyone performing maintenance on the property
Question:
A CPA (certified public accountant)
Question:
A licensed practicing attorney
Question:
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.
Question:
CAM is to Broker as Agent is to .
Answer:
Principal
Question:
Community Association is to Broker as Principal is to .
Answer:
Agent
Question:
When hired by a brokerage, do I need to notify the GREC? .
Answer:
Yes.
, Question:
Does a salesperson and CAM have no authority without a broker? .
Answer:
Yes. They are the ones to assign your role and duties.
Question:
CAM & Salesperson Requirement for Age .
Answer:
18
Question:
CAM, Salesperson, & Broker Requirement for Education .
Answer:
High School Diploma or Equivalent
Question:
CAM Course Requirement .
Answer:
25-Hour Commission Approved Course and Test
Question:
GREC Qualifying Broker Requirements .
Answer:
1. Must be a human being
Question:
Must be an officer or top title holder of company (i.e. partner, manager, owner, etc)
Question:
Authority to bind the brokerage company (able to sign contracts with CA's)
Question:
A signatory on all trust accounts held by the brokerage
