CAM - Community Association Manager License
GA 2025-2026 Most Recent Version
Comprehensive 250 Questions and Verified
Answers Accurate Solutions Already Graded A+
Get it 100% Correct
1099 Form - CORRECT ANSWER: - Used to report various types of income paid to
others that would not be reported on a W-2
- Required for unincorporated payees receiving $600 or more during any calendar year
- Must be filed with IRS by the end of February for previous calendar year (copies must
be sent to the payee by the end of January)
Accrual Basis Accounting - CORRECT ANSWER: Recognizes income when it is
scheduled to paid and expenses when they are invoiced
After receipt of request to inspect and copy records, The board should: - CORRECT
ANSWER: -Review the request and confirm that it is proper
-Notify the owner about the review. Notice should include
a. date, time, and location for review
b. statement about costs that may be charged to member - reasonable charges for
labor, materials and copies
-Confirm that someone can attend review with the member for the entire time
-Inspect all records before the member and redact (if necessary) any confidential
information
Annual meetings of the owners - CORRECT ANSWER: Board is required to send notice
and try to call this type of meeting. Association legal documents might outline the
agenda for meeting, but most give officer reports, elect directors, and review/discuss
budget for upcoming year
,Articles of Incorporation list: - CORRECT ANSWER: Initial directors, the official address
of the corporation, the registered agent, and the name of the incorporator
As a broker, can I solicit business from another brokerage? - CORRECT ANSWER: NO!
You must have written approval from the current brokerage of the CA prior to trying to
poach them.
As long as a quorum is present, how many votes are required by the board according to
the NPCC to pass a vote? - CORRECT ANSWER: The affirmative vote of a majority of
directors present when a vote is taken is the act and shall pass. If an equal number,
then the majority present is half plus 1.
Association Foreclosing on Delinquent Owner in a GCA and POAA - CORRECT
ANSWER: -Association must provide 30 day notice to delinquent owner prior to filing
lawsuit seeking an order of foreclosure
-If the owner does not pay or work out payment plan during 30-day period AND if
association's lien is AT LEAST $2,000, then the association can file lawsuit for money
judgement against owner and foreclosure of lien
*RESULTS*
-Best result- third party purchases property at foreclosure sale for price high enough to
pay off amounts owed to association by the delinquent owner
-Alternative Result- association buys property at foreclosure sale and becomes legal
title holder, no money received by association but delinquent owner gone
-Worst result- no one buys property at foreclosure sale and the pre-foreclosure status
quo remains
Association Turnover Checklist - CORRECT ANSWER: -Association Documents
(declaration, bylaws and all properly adopted amendments, articles of incorporation,
minute books, rules and regs, copy of all deeds of properties owned by the association)
-Financial Documents (annual state and federal tax returns, budget, certified audit from
inception to date of transfer of control by independent CPA, set of financial books,
ledgers, bills, all association funds and control of them)
,-Maintenance (as-builts, plats, warranties, inventories, manufacturers list, construction
subcontractors and their principals)
-Assurances (city compliances, statements and confirmations)
-Miscellaneous (public reports, complete list of owners and mortgage companies,
copies of contracts, tangible association property listed, all insurance policies of unit
owners, directors, association, or officers)
Benefit of having a reserve account? - CORRECT ANSWER: Saving money in this type
of account spreads out costs over time by "saving" each year so special assessments
might not be necessary to pay for these expenses when the works needs to be done in
the future
Broker - CORRECT ANSWER: any person who or entity that collects assessments or
performs community association management services; AKA Top Dog of RE Ladder
Bylaws typically contain provisions about how the corporation should operate and
specifics about: - CORRECT ANSWER: -Annual, special, and board meetings
-Notice, quorum, proxy, and voting requirements for meetings
-Number, terms, election, and authority of board members and officers
-Books and records that need to be maintained by the corporation
CAM (community association manager) - CORRECT 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
CAM & Salesperson Requirement for Age - CORRECT ANSWER: 18
CAM Course Requirement - CORRECT ANSWER: 25-Hour Commission Approved
Course and Test
, CAM is to Agent as Association is to - CORRECT ANSWER: Principal; same for
Brokerage.
CAM is to Broker as Agent is to - CORRECT ANSWER: Principal
CAM, Salesperson, & Broker Requirement for Education - CORRECT ANSWER: High
School Diploma or Equivalent
Can a board member be present at a meeting if they can not be simultaneously heard
by all other board members? - CORRECT ANSWER: No. They are only considered
present by telephone, video conference, in person, or other electronic means as long as
they can be heard.
Can a GCA be any type of architectural style? - CORRECT ANSWER: Yes.
Can a POA or HOA be created in a high rise building? - CORRECT ANSWER: No!
Can a POAA and HOA charge more than $5,000 in a deductible to lot owners? -
CORRECT ANSWER: Yes, they can, unlike a GCA.
Can I hold a license, but provide CAM services directly to my own community that I am
a member of? - CORRECT ANSWER: NO! Either surrender the license or find a broker
that will hire you.
Can I, as a CAM, sell my house without notifying anyone? - CORRECT ANSWER: No!
You must disclose to your RE agent that you are licensed. Also, you MUST FIRST
check with your broker prior to going into contract with another brokerage company
because this could be lost revenue to your broker's business.
GA 2025-2026 Most Recent Version
Comprehensive 250 Questions and Verified
Answers Accurate Solutions Already Graded A+
Get it 100% Correct
1099 Form - CORRECT ANSWER: - Used to report various types of income paid to
others that would not be reported on a W-2
- Required for unincorporated payees receiving $600 or more during any calendar year
- Must be filed with IRS by the end of February for previous calendar year (copies must
be sent to the payee by the end of January)
Accrual Basis Accounting - CORRECT ANSWER: Recognizes income when it is
scheduled to paid and expenses when they are invoiced
After receipt of request to inspect and copy records, The board should: - CORRECT
ANSWER: -Review the request and confirm that it is proper
-Notify the owner about the review. Notice should include
a. date, time, and location for review
b. statement about costs that may be charged to member - reasonable charges for
labor, materials and copies
-Confirm that someone can attend review with the member for the entire time
-Inspect all records before the member and redact (if necessary) any confidential
information
Annual meetings of the owners - CORRECT ANSWER: Board is required to send notice
and try to call this type of meeting. Association legal documents might outline the
agenda for meeting, but most give officer reports, elect directors, and review/discuss
budget for upcoming year
,Articles of Incorporation list: - CORRECT ANSWER: Initial directors, the official address
of the corporation, the registered agent, and the name of the incorporator
As a broker, can I solicit business from another brokerage? - CORRECT ANSWER: NO!
You must have written approval from the current brokerage of the CA prior to trying to
poach them.
As long as a quorum is present, how many votes are required by the board according to
the NPCC to pass a vote? - CORRECT ANSWER: The affirmative vote of a majority of
directors present when a vote is taken is the act and shall pass. If an equal number,
then the majority present is half plus 1.
Association Foreclosing on Delinquent Owner in a GCA and POAA - CORRECT
ANSWER: -Association must provide 30 day notice to delinquent owner prior to filing
lawsuit seeking an order of foreclosure
-If the owner does not pay or work out payment plan during 30-day period AND if
association's lien is AT LEAST $2,000, then the association can file lawsuit for money
judgement against owner and foreclosure of lien
*RESULTS*
-Best result- third party purchases property at foreclosure sale for price high enough to
pay off amounts owed to association by the delinquent owner
-Alternative Result- association buys property at foreclosure sale and becomes legal
title holder, no money received by association but delinquent owner gone
-Worst result- no one buys property at foreclosure sale and the pre-foreclosure status
quo remains
Association Turnover Checklist - CORRECT ANSWER: -Association Documents
(declaration, bylaws and all properly adopted amendments, articles of incorporation,
minute books, rules and regs, copy of all deeds of properties owned by the association)
-Financial Documents (annual state and federal tax returns, budget, certified audit from
inception to date of transfer of control by independent CPA, set of financial books,
ledgers, bills, all association funds and control of them)
,-Maintenance (as-builts, plats, warranties, inventories, manufacturers list, construction
subcontractors and their principals)
-Assurances (city compliances, statements and confirmations)
-Miscellaneous (public reports, complete list of owners and mortgage companies,
copies of contracts, tangible association property listed, all insurance policies of unit
owners, directors, association, or officers)
Benefit of having a reserve account? - CORRECT ANSWER: Saving money in this type
of account spreads out costs over time by "saving" each year so special assessments
might not be necessary to pay for these expenses when the works needs to be done in
the future
Broker - CORRECT ANSWER: any person who or entity that collects assessments or
performs community association management services; AKA Top Dog of RE Ladder
Bylaws typically contain provisions about how the corporation should operate and
specifics about: - CORRECT ANSWER: -Annual, special, and board meetings
-Notice, quorum, proxy, and voting requirements for meetings
-Number, terms, election, and authority of board members and officers
-Books and records that need to be maintained by the corporation
CAM (community association manager) - CORRECT 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
CAM & Salesperson Requirement for Age - CORRECT ANSWER: 18
CAM Course Requirement - CORRECT ANSWER: 25-Hour Commission Approved
Course and Test
, CAM is to Agent as Association is to - CORRECT ANSWER: Principal; same for
Brokerage.
CAM is to Broker as Agent is to - CORRECT ANSWER: Principal
CAM, Salesperson, & Broker Requirement for Education - CORRECT ANSWER: High
School Diploma or Equivalent
Can a board member be present at a meeting if they can not be simultaneously heard
by all other board members? - CORRECT ANSWER: No. They are only considered
present by telephone, video conference, in person, or other electronic means as long as
they can be heard.
Can a GCA be any type of architectural style? - CORRECT ANSWER: Yes.
Can a POA or HOA be created in a high rise building? - CORRECT ANSWER: No!
Can a POAA and HOA charge more than $5,000 in a deductible to lot owners? -
CORRECT ANSWER: Yes, they can, unlike a GCA.
Can I hold a license, but provide CAM services directly to my own community that I am
a member of? - CORRECT ANSWER: NO! Either surrender the license or find a broker
that will hire you.
Can I, as a CAM, sell my house without notifying anyone? - CORRECT ANSWER: No!
You must disclose to your RE agent that you are licensed. Also, you MUST FIRST
check with your broker prior to going into contract with another brokerage company
because this could be lost revenue to your broker's business.
