Auctioneer Study guides, Class notes & Summaries

Texas Auctioneer License Part 2 Exam Questions and Correct Answers Name some persons that are exempt from needing an auctioneer license. - CORRECT ANSWERS 1. U.S. court ordered sale 2. A government sponsored or conducted sale. 3. A charitable organization as long as no compensation 4. A sale of real property by a trustee under a security instrument. 5.A sale of real property by an owner with an interest or employee (unless he/she is a licensed auctioneer by trade) and all pr...

The Kentucky Real Estate Commission determined that a buyer was damaged by the fraudulent action of a licensee in the amount of $50,000. If the responsible licensee does not pay the claim, the Commission may pay out from the Real Estate Education, Research, and Recovery Fund a MAXIMUM amount of: - Answer- $20,000 An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or th...

Texas Auctioneer License-Part 1 questions with 100% verified answers Does an auctioneer need a federal firearms license? - CORRECT ANSWER Yes AND No; if estate sale then no, consignment sale then yes If an auctioneer sales a firearm away from their business location, how do they transfer to buyer? - CORRECT ANSWER It must be returned to their business location before transferring. Who determines the auctioneers fee in federal bankruptcy court? - CORRECT ANSWER The court sets the fee. ...

PA AUCTIONEER EXAM 2024 ACTUAL EXAM 120 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) | LATEST EDITION | ALREADY GRADED A+

what is the most important tool of the auctioneer? - correct answer product knowledge what is the trademark of the auctioneer? - correct answer chant who is accountable and accepts ultimate responsibility of at the auction? - correct answer the auctioneer when selling personal property at auction, when does the legal title pass? - correct answer fall of the hammer how do you handle a tie bid that occurs at hammer's fall? - correct answer at the discretion of the auctioneer

Ky Board of Auctioneer Test with 100% verified questions and answers Absolute Auction -ANS After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve -ANS when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right to bid -ANS The auction...

Ky Board of Auctioneer Test 2023 Questions and Answers

Ky Board of Auctioneer Test with 100% verified questions and answers Absolute Auction - CORRECT ANSWER After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - CORRECT ANSWER when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right ...

Texas Auctioneer License Part 1 Exam With Verified Solutions 2023/2024. Does an auc*oneer need a federal firearms license? Yes AND No; if estate sale then no, consignment sale then yes If an auc*oneer sales a firearm away from their business loca*on, how do they transfer to buyer? It must be returned to their business loca*on before transferring. Who determines the auc*oneers fee in federal bankruptcy court? The court sets the fee. Who must obtain a firearms license? Persons in the busi...

Texas Auctioneer License Part 1 Exam Questions and Correct Answers Does an auctioneer need a federal firearms license? - ANSWER Yes AND No; if estate sale then no, consignment sale then yes If an auctioneer sales a firearm away from their business location, how do they transfer to buyer? - ANSWER It must be returned to their business location before transferring. Who determines the auctioneers fee in federal bankruptcy court? - ANSWER The cour...