COMMUNITY ASSOCIATION MANAGEMENT EXAM
WITH ALL CORRECT & 100% VERIFIED ANSWERS|
ALREADY GRADED A+
Does a condo owner who manages his own community on a part-time basis need a real estate
license? ✔Correct Answer-No
Does a CPA who collects association assessments need a real estate license? ✔Correct Answer-No
Does a person working for a management company and managing only one association need a real
estate license? ✔Correct Answer-Yes
Does a developer's employee who manages all of the developer's communities until turnover need a
real estate license? ✔Correct Answer-No
Does a homeowner hired by two communities nearby the homeowner's community need a real
estate license? ✔Correct Answer-Yes
Does a condominium owner who manages his own community on a full-time basis need a real estate
license? ✔Correct Answer-No
Does a person hired by a Broker to manage numerous mandatory associations need a real estate
license? ✔Correct Answer-Yes
Does a CPA who writes checks to association vendors and professionals need a real estate license?
✔Correct Answer-No
Does a non-owner hired by a Broker to manage one community on-site on a full-time basis need a
real estate license? ✔Correct Answer-Yes
Does a maintenance man working for the management company need a real estate license?
✔Correct Answer-No
Does a CPA who does association tax returns need a real estate license? ✔Correct Answer-No
Does a person working for a Broker managing numerous voluntary associations need a real estate
license? ✔Correct Answer-Yes
Name 5 requirements of a qualifying Broker. ✔Correct Answer-Owner/officer/partner of company,
Active license for 3 yrs., Signatory on all trust accounts held by company, 21 years old, able to bind
company, HS graduate or equivalent, liable for all affiliated licensees, passed 60 hour broker class
exam, passed state broker's exam
Agreements between licensed management companies and community associations must contain a:
✔Correct Answer-Term (length) clause
WITH ALL CORRECT & 100% VERIFIED ANSWERS|
ALREADY GRADED A+
Does a condo owner who manages his own community on a part-time basis need a real estate
license? ✔Correct Answer-No
Does a CPA who collects association assessments need a real estate license? ✔Correct Answer-No
Does a person working for a management company and managing only one association need a real
estate license? ✔Correct Answer-Yes
Does a developer's employee who manages all of the developer's communities until turnover need a
real estate license? ✔Correct Answer-No
Does a homeowner hired by two communities nearby the homeowner's community need a real
estate license? ✔Correct Answer-Yes
Does a condominium owner who manages his own community on a full-time basis need a real estate
license? ✔Correct Answer-No
Does a person hired by a Broker to manage numerous mandatory associations need a real estate
license? ✔Correct Answer-Yes
Does a CPA who writes checks to association vendors and professionals need a real estate license?
✔Correct Answer-No
Does a non-owner hired by a Broker to manage one community on-site on a full-time basis need a
real estate license? ✔Correct Answer-Yes
Does a maintenance man working for the management company need a real estate license?
✔Correct Answer-No
Does a CPA who does association tax returns need a real estate license? ✔Correct Answer-No
Does a person working for a Broker managing numerous voluntary associations need a real estate
license? ✔Correct Answer-Yes
Name 5 requirements of a qualifying Broker. ✔Correct Answer-Owner/officer/partner of company,
Active license for 3 yrs., Signatory on all trust accounts held by company, 21 years old, able to bind
company, HS graduate or equivalent, liable for all affiliated licensees, passed 60 hour broker class
exam, passed state broker's exam
Agreements between licensed management companies and community associations must contain a:
✔Correct Answer-Term (length) clause
