COMMUNITY ASSOCIATION MANAGE 1 UPDATED ACTUAL EXAM QUESTIONS CORRECT
ANSWERS GRADED A PLUS
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:
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
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 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
Question:
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.
Question:
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.
ANSWERS GRADED A PLUS
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:
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
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 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
Question:
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.
Question:
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.
