GA AUCTION STUDY MATERIAL
STUDY GUIDE 2026 COMPLETE
QUESTIONS AND VERIFIED
ANSWERS
◉ A property that meets criteria in two of the three suitability categories
is a good candidate for an auction sale.. Answer: What's the two-thirds
rule that's related to selling properties at auction?
◉ Absentee bid. Answer: If the auction type permits, a method of
bidding while not actually present at the auction
◉ Absolute. Answer: The property is sold to the highest bidder, no
matter what the bid is.
◉ All bidders must abide by the same auction rules.. Answer: Why is
the playing field for auction buyers considered to be more level than for
buyers in a traditional sale?
◉ As is. Answer: Auctioned item is sold with all damage, faults, or
imperfections
◉ Assist the seller in analyzing the property and situation.. Answer:
When working with a seller as an auction referral resource, which of the
following tasks will a licensee perform?
, ◉ Auction chant. Answer: The rapid speech pattern of an auctioneer
during the auction; includes the statement ("I'm bid 10 dollars"), the
suggestion ("10 dollars, 20 dollars"), and the question ("Do I hear 30?")
◉ Bid catcher. Answer: Sometimes called the ringman, these assistants
watch the crowd to be sure all bids are noticed and conveyed to
auctioneer
◉ Bid increment. Answer: The amount by which bids increase
◉ Chandelier or rafter bid. Answer: A fake bid in which the auctioneer
rapidly points to some imaginary bidder in an attempt to get the bidding
going
◉ Educate the buyer about the auction process, assist the buyer in
developing a bidding strategy, and attend the auction. Answer: A
cooperating licensee representing a buyer in an auction transaction will
______.
◉ Fair warning. Answer: Auctioneer's call or warning that final bids
should be made
◉ Filler words. Answer: All the words but the bid; differ from one
auction and auctioneer to another; give each auctioneer a unique rhythm
STUDY GUIDE 2026 COMPLETE
QUESTIONS AND VERIFIED
ANSWERS
◉ A property that meets criteria in two of the three suitability categories
is a good candidate for an auction sale.. Answer: What's the two-thirds
rule that's related to selling properties at auction?
◉ Absentee bid. Answer: If the auction type permits, a method of
bidding while not actually present at the auction
◉ Absolute. Answer: The property is sold to the highest bidder, no
matter what the bid is.
◉ All bidders must abide by the same auction rules.. Answer: Why is
the playing field for auction buyers considered to be more level than for
buyers in a traditional sale?
◉ As is. Answer: Auctioned item is sold with all damage, faults, or
imperfections
◉ Assist the seller in analyzing the property and situation.. Answer:
When working with a seller as an auction referral resource, which of the
following tasks will a licensee perform?
, ◉ Auction chant. Answer: The rapid speech pattern of an auctioneer
during the auction; includes the statement ("I'm bid 10 dollars"), the
suggestion ("10 dollars, 20 dollars"), and the question ("Do I hear 30?")
◉ Bid catcher. Answer: Sometimes called the ringman, these assistants
watch the crowd to be sure all bids are noticed and conveyed to
auctioneer
◉ Bid increment. Answer: The amount by which bids increase
◉ Chandelier or rafter bid. Answer: A fake bid in which the auctioneer
rapidly points to some imaginary bidder in an attempt to get the bidding
going
◉ Educate the buyer about the auction process, assist the buyer in
developing a bidding strategy, and attend the auction. Answer: A
cooperating licensee representing a buyer in an auction transaction will
______.
◉ Fair warning. Answer: Auctioneer's call or warning that final bids
should be made
◉ Filler words. Answer: All the words but the bid; differ from one
auction and auctioneer to another; give each auctioneer a unique rhythm
