Latest CAM - Community Association Manager License GA 100% Correct Answers

Latest CAM - Community Association Manager License GA 100% Correct Answers The Year 1925 *Ans* License Law enacted and the GREC (Georgia Real Estate Commission) was created to protect from harmful acts of Real Estate brokers. GREC *Ans* Georgia Real Estate Commission; holds 6 members. 1 of which is not RE (real estate) licensed GREC's Authority *Ans* 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 *Ans* CAM Created in GA Licensee *Ans* a salesperson, associate broker, broker, or community association manager Broker *Ans* any person who or entity that collects assessments or performs community association management services; AKA Top Dog of RE Ladder Community Association *Ans* 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) *Ans* 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? *Ans* 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? *Ans* NO! Either surrender the license or find a broker that will hire you. CAM is to Broker as Agent is to *Ans* Principal Community Association is to Broker as Principal is to *Ans* Agent When hired by a brokerage, do I need to notify the GREC? *Ans* Yes.