ASSOCIATION MANAGER - EXAM QUESTIONS AND C ORRECT ANSWERS Question: W...

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CAM - COMMUNITY

ASSOCIATION MANAGER

LICENSE GA UPDATED A CTUAL

EXAM QUESTIONS AND C ORRECT

ANSWERS

Question: Who can provide CAM services WITHOUT a

license?

• Developer
• Anyone that works FULLTIME directly for the

developer

• Anyone hired on a FULLTIME basis by the HOA
• A member of the community association that works for

that specific CA ONLY (doesn't matter if full or part- time)

• Anyone performing maintenance on the property
• A CPA (certified public accountant)
• A licensed practicing attorney

Correct 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

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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?

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?

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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.

Question: 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.

Question: Do brokers need permission to sell RE in a

community they also manage?

Correct answer: Yes. It is normally in the management

contract, however if the broker thinks far enough ahead.

Question: Can I, as a CAM, sell my house without

notifying anyone?

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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.

Question: True or False: For a single phase condominium, the Declarant can appoint and remove directors and officers until 80% of the units are sold.

Correct answer: False. It is until 80% of the common

elements are sold.

Question: True or False: The first board of directors of an association is listed in the Articles of Incorporation filed with the Secretary of State.

Correct answer: True.

Question: For the meetings of the board of directors, the

GCA and POAA require how much notice for regular meetings and how many days notice for special meetings?