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CAM - COMMUNITY
ASSOCIATION MANAGER
LICENSE GA | QUESTIONS AND
CORRECT ANSWER S | LATEST
UPDATE
Question : The Year 1925
CORRECT ANSWER : License Law enacted and the
GREC (Georgia Real Estate Commission) was created to protect from harmful acts of Real Estate brokers.
Question : GREC
CORRECT ANSWER : Georgia Real Estate
Commission; holds 6 members. 1 of which is not RE (real estate) licensed
Question : GREC's Authority
CORRECT 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
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Question : The Year 1996
CORRECT ANSWER : CAM Created in GA
Question : Licensee
CORRECT ANSWER : a salesperson, associate broker,
broker, or community association manager
Question : Broker
CORRECT ANSWER : any person who or entity that
collects assessments or performs community association management services; AKA Top Dog of RE Ladder
Question : Community Association
CORRECT 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)
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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
Question : Who can provide CAM services WITHOUT a
license?
CORRECT ANSWER : 1. Developer2. Anyone that
works FULLTIME directly for the developer3. 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 property6. 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?
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CORRECT ANSWER : NO! Either surrender the license
or find a broker that will hire you.
Question : CAM is to Broker as Agent is to
CORRECT ANSWER : Principal
Question : Community Association is to Broker as
Principal is to
CORRECT ANSWER : Agent
Question : When hired by a brokerage, do I need to notify
the GREC?
CORRECT ANSWER : Yes.
Question : Does a salesperson and CAM have no
authority without a broker?
CORRECT ANSWER : Yes. They are the ones to assign
your role and duties.