GA Auction Study Guide Exam
Questions and Answers 100%
Pass
An auction listing contract -
Answer: Must be written to be enforceable
Question: Seller -
Answer: In the contracting to operate a consignment auction this determine the
rules of the sale between the auctioneer and the _____
Question: If a public auction your seller directs you to disregard ethical behavior,
you should: -
Answer: Avoid the seller
Question: A real estate deed is a document to determine; -
,Answer: Convey land ownership
Question: An auctioneers license number must be displayed on: -
Answer: All advertising of all auctions
Question: An auctioneers first agency obligation is to -
Answer: Sellers
Question: How should an auctioneer dress? -
Answer: Comparable with your bidders
Question: The best chant for an auctioneer is to be: -
Answer: Easily understood
Question: liquidation auction -
Answer: Selling remaining inventory at auction
,Question: The Auction Commission can regulate the amount of commission you
can charge to sell real estate.
T or F -
Answer: False
Question: Registration of bidders at an auction -
Answer: Creates a mailing list
Question: If a licensed Auctioneer allows an unlicensed person to call their
auction, both parties have violated the law.
T or F -
Answer: True
Question: A chapter 11 bankruptcy is a debtor in possession who has filed for
reorganization.
T or F -
Answer: True
, Question: At an absolute auction you can legally -
Answer: Withdraw and item if no bid is received within a reasonable time.
Question: At a court ordered auction conducted by an attorney, the attorney must
hold an Auctioneers license.
T or F -
Answer: True
Question: Principal -
Answer: In an agency situation, when a seller authorizes you to sell their property.
Question: A closing statement -
Answer: 1. Must include name and address of seller, price property sold for, date
and location where sale was conducted, and date the seller was paid.
Question: How long must a closing statement be kept on record? -
Answer: 3 years
Questions and Answers 100%
Pass
An auction listing contract -
Answer: Must be written to be enforceable
Question: Seller -
Answer: In the contracting to operate a consignment auction this determine the
rules of the sale between the auctioneer and the _____
Question: If a public auction your seller directs you to disregard ethical behavior,
you should: -
Answer: Avoid the seller
Question: A real estate deed is a document to determine; -
,Answer: Convey land ownership
Question: An auctioneers license number must be displayed on: -
Answer: All advertising of all auctions
Question: An auctioneers first agency obligation is to -
Answer: Sellers
Question: How should an auctioneer dress? -
Answer: Comparable with your bidders
Question: The best chant for an auctioneer is to be: -
Answer: Easily understood
Question: liquidation auction -
Answer: Selling remaining inventory at auction
,Question: The Auction Commission can regulate the amount of commission you
can charge to sell real estate.
T or F -
Answer: False
Question: Registration of bidders at an auction -
Answer: Creates a mailing list
Question: If a licensed Auctioneer allows an unlicensed person to call their
auction, both parties have violated the law.
T or F -
Answer: True
Question: A chapter 11 bankruptcy is a debtor in possession who has filed for
reorganization.
T or F -
Answer: True
, Question: At an absolute auction you can legally -
Answer: Withdraw and item if no bid is received within a reasonable time.
Question: At a court ordered auction conducted by an attorney, the attorney must
hold an Auctioneers license.
T or F -
Answer: True
Question: Principal -
Answer: In an agency situation, when a seller authorizes you to sell their property.
Question: A closing statement -
Answer: 1. Must include name and address of seller, price property sold for, date
and location where sale was conducted, and date the seller was paid.
Question: How long must a closing statement be kept on record? -
Answer: 3 years
