ACTUAL EXAM NEWEST
GA AUCTION STUDY GUIDE
VERSION 2025 200 Questions and Verified
Answers | 100% Correct.
A full time Auctioneer is ✔✔CORRECT ANSWERS✔✔An auctioneer who
owns his own company, an auctioneer who works exclusively doe
another auction company
A company desiring to obtain an auction company license, requires no
training.
T or F ✔✔CORRECT ANSWERS✔✔True
In order for a contract to be binding, the signatures if two witness are
required.
T or F ✔✔CORRECT ANSWERS✔✔False
As a qualifying veteran taking the Georgia Auction Exam, you ate
allowed a 5 point advantage. Thus, you must score 70% to pass.
T or F ✔✔CORRECT ANSWERS✔✔False
As a licensed Auctioneer, you are entitled to a 2% referral fee on all
deals you set up with a real estate agent even though you are not
licensed in real estate.
,T or F ✔✔CORRECT ANSWERS✔✔False
You can demand an opening bid & refuse small increment bids at a
reserve auction. ✔✔CORRECT ANSWERS✔✔True
An auctioneer may be allowed to group or divide lots at an auction if:
✔✔CORRECT ANSWERS✔✔Prior notice has been given
As a licensed Auctioneer for hire to the public, you are required to
accept a consignment you suspect to be stolen.
T or F ✔✔CORRECT ANSWERS✔✔False
A contract between an auctioneer and mentally incompetent person is
still enforceable by either party.
T or F ✔✔CORRECT ANSWERS✔✔False
An auctioneer as a professional license is governed by both laws and
ethics.
T or F ✔✔CORRECT ANSWERS✔✔True
A valid contract must include ✔✔CORRECT ANSWERS✔✔Date contract
is signed, date of performance, consideration
,Ethics may be defined as ✔✔CORRECT ANSWERS✔✔Honest and fair
business dealings
After completing this course and passing the state exam, but before you
receive your license , if you contract an auction and the seller fails to
honor it, can you sure and recover losses?
Y or N ✔✔CORRECT ANSWERS✔✔No
The terms "antique" and "collectible" mean the same thing.
T or F ✔✔CORRECT ANSWERS✔✔False
The term "estate auction" always refers tot he sale of property.
T or F ✔✔CORRECT ANSWERS✔✔True
Encumbrance ✔✔CORRECT ANSWERS✔✔A claim or lien on property
If a bidder premium is chargers at the auction, it must be announced at
the beginning of the sale.
T or F ✔✔CORRECT ANSWERS✔✔False
Georgia auction law requires you to have a writren, signed contract to
legally operate an auction.
T or F ✔✔CORRECT ANSWERS✔✔True
, Any auction generating gross sales below $2000 is not required to
deposit proceeds into an escrow account.
T or F ✔✔CORRECT ANSWERS✔✔False
An auctioneers license must be displayed or made available at each
auction.
T or F ✔✔CORRECT ANSWERS✔✔True
The principal auctioneer must include their name and license in all
advertising Of an auction.
T or F ✔✔CORRECT ANSWERS✔✔True
The auctioneer is allowed to have three "NO SALES" during the
duration. Of any absolute auction.
T or F ✔✔CORRECT ANSWERS✔✔False
In conducting an absolute auction any item may be withdrawn if no bids
have been received within a reasonable time.
T or F ✔✔CORRECT ANSWERS✔✔True
The Georgia auctioneer commission is composed of six auctioneers and
one other person not connected with the auction business.
GA AUCTION STUDY GUIDE
VERSION 2025 200 Questions and Verified
Answers | 100% Correct.
A full time Auctioneer is ✔✔CORRECT ANSWERS✔✔An auctioneer who
owns his own company, an auctioneer who works exclusively doe
another auction company
A company desiring to obtain an auction company license, requires no
training.
T or F ✔✔CORRECT ANSWERS✔✔True
In order for a contract to be binding, the signatures if two witness are
required.
T or F ✔✔CORRECT ANSWERS✔✔False
As a qualifying veteran taking the Georgia Auction Exam, you ate
allowed a 5 point advantage. Thus, you must score 70% to pass.
T or F ✔✔CORRECT ANSWERS✔✔False
As a licensed Auctioneer, you are entitled to a 2% referral fee on all
deals you set up with a real estate agent even though you are not
licensed in real estate.
,T or F ✔✔CORRECT ANSWERS✔✔False
You can demand an opening bid & refuse small increment bids at a
reserve auction. ✔✔CORRECT ANSWERS✔✔True
An auctioneer may be allowed to group or divide lots at an auction if:
✔✔CORRECT ANSWERS✔✔Prior notice has been given
As a licensed Auctioneer for hire to the public, you are required to
accept a consignment you suspect to be stolen.
T or F ✔✔CORRECT ANSWERS✔✔False
A contract between an auctioneer and mentally incompetent person is
still enforceable by either party.
T or F ✔✔CORRECT ANSWERS✔✔False
An auctioneer as a professional license is governed by both laws and
ethics.
T or F ✔✔CORRECT ANSWERS✔✔True
A valid contract must include ✔✔CORRECT ANSWERS✔✔Date contract
is signed, date of performance, consideration
,Ethics may be defined as ✔✔CORRECT ANSWERS✔✔Honest and fair
business dealings
After completing this course and passing the state exam, but before you
receive your license , if you contract an auction and the seller fails to
honor it, can you sure and recover losses?
Y or N ✔✔CORRECT ANSWERS✔✔No
The terms "antique" and "collectible" mean the same thing.
T or F ✔✔CORRECT ANSWERS✔✔False
The term "estate auction" always refers tot he sale of property.
T or F ✔✔CORRECT ANSWERS✔✔True
Encumbrance ✔✔CORRECT ANSWERS✔✔A claim or lien on property
If a bidder premium is chargers at the auction, it must be announced at
the beginning of the sale.
T or F ✔✔CORRECT ANSWERS✔✔False
Georgia auction law requires you to have a writren, signed contract to
legally operate an auction.
T or F ✔✔CORRECT ANSWERS✔✔True
, Any auction generating gross sales below $2000 is not required to
deposit proceeds into an escrow account.
T or F ✔✔CORRECT ANSWERS✔✔False
An auctioneers license must be displayed or made available at each
auction.
T or F ✔✔CORRECT ANSWERS✔✔True
The principal auctioneer must include their name and license in all
advertising Of an auction.
T or F ✔✔CORRECT ANSWERS✔✔True
The auctioneer is allowed to have three "NO SALES" during the
duration. Of any absolute auction.
T or F ✔✔CORRECT ANSWERS✔✔False
In conducting an absolute auction any item may be withdrawn if no bids
have been received within a reasonable time.
T or F ✔✔CORRECT ANSWERS✔✔True
The Georgia auctioneer commission is composed of six auctioneers and
one other person not connected with the auction business.
