Auctioneer Exam Questions With Correct Answers

AUCTIONEER EXAM QUESTIONS WITH
CORRECT ANSWERS



Auction - ans- 1 1


method of sale of real or personal property, goods, or chattels, at a predetermined date an
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d time, by means of verbal exchange, regular mail, telecommunications, the internet, an el
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ectronic transmission, or a physical gesture between an auctioneer and members of the au
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dience

Auctioneer - ans- 1 1


any person who engages or who by advertising or otherwise holds the person out as being
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able to engage in the calling for recognition of and the acceptance of offers the purchase of
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1real or personal property goods or chattels at auction either directly or through the use of o
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ther licensed auctioneers or apprentice auctioneers .
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apprentice auctioneer - ans- 1 1 1


any individual who is sponsored by an auctioneer to deal or engage in any activities mentio
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ned in division A or this section
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special auctioneer - ans- 1 1 1


any person who currently is subject to section 4707.071 of the revised code
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absolute auction - ans- 1 1 1


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


and auction in which the seller or an agent of the seller reserves the right to establish a stat
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ed minimum bid the right to reject or accept any or all bids or the right to withdraw the real o
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r personal property at any time prior to the completion of the auction by the auctioneer.
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Auction mediation company - ans- 1 1 1 1


a company that provides a forum through the internet for a person to sell the person real or
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property via the submission of silent bids using a computer or other electronic device .
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