Auctioneer School questions with correct answers

Auction CORRECT ANSWER The sale of goods or real estate by means of exchanges between an auctioneer and members of an audience There shall be ______ member North Carolina auctioneer commission having the power and responsibilities set out in this chapter. The____ shall appoint the members of the commission. CORRECT ANSWER 5 , Governor "Fund" means Auctioneer Recovery Fund. CORRECT ANSWER True It is legal and ethical for the commission to investigate the background of any applicant applying for a license. CORRECT ANSWER True Name three auctions you can do without a license. CORRECT ANSWER Tobacco, Livestock, and Automotive Estate Sale CORRECT ANSWER Land and all interest there in including all improvements to the land such as buildings fences and fixtures. Title for real estate sold at auction passes at closing with delivery and acceptance of the deed Absolute Auction CORRECT ANSWER an auction that is without reserve Cosignment CORRECT ANSWER The act of delivering or transferring goods or real estate in fact or constructively to an auctioneer or the auctioneers agent in trust for the purpose of resale at auction where by title does not pass to the bar until the auction is indicating a sale