ATI TEAS 7 life and physical sciences. Questions and Verified Answers. Graded A.docx

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Auctioneer Exam Questions and
Correct Answers. Graded A
A val will - ANSIf someone dies "intestate" you know the did not have a


Absentee bidding - ANSthe method by which a potential purchaser
authorizes a proxy to place on behalf of the potential purchaser a written or
oral bid to an auctioneer or auction firm or an agent of an auctioneer or
auction firm


absolute auction - ANSand auction of real or personal property to which all
of the following apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller or
an agent of the seller.
4. The seller of the property cannot withdraw the property from the auction
after the auction is opened and there is public solicitation or calling for bids.


Administrate - ANSIn an Estate if there is not a valid will then the court will
appoint a(n)


apprentice auctioneer - ANSany individual who is sponsored by an
auctioneer to deal or engage in any activities mentioned in division A or this
section



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