INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS|ALREADY GRADED A
A composition of copper and silver is identified as which?(ANSWER)Pewter
When weighing silver, an ounce is what part of a pound?(ANSWER)1/12
18 karat gold jewelry is what percent gold?(ANSWER).75
An alloy of tin, lead and brass or copper is characteristic of?(ANSWER)Pewter
The design of a rug from which a weaver works is called?(ANSWER)Weft treads
Thread running from the top to bottom of a run is called what?(ANSWER)Warp threads
What information is obtained from the tag of an oriental rug?(ANSWER)City of origin
A buyer and seller agree on the purchase price of a property with no pressure on either party. This price
is referred to as:(ANSWER)Market value
Is the signature of the current owner required in the preparation of a personal property
appraisal?(ANSWER)No
Which of the following would be considered a seasonal item when appraising personal property?
Choose the letter.
A. Household items
, INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS|ALREADY GRADED A
B. Farm Machinery
C. Horses(ANSWER)B
You are appraising a piece of personal property. Which of the following is not factored into the
appraisal? Choose the letter.
A. Condition of the item
B. Age of the item
C. Availability of like items
D. Amount of repair work needed(ANSWER)D
In preparing a farm equipment option, it is necessary to do all of the following except:
A. Line up machinery in rows
B. Place like machinery together
C. Put all accessories with their accompanying piece of equipment(ANSWER)B
What is the "worst" season to sell farm equipment?(ANSWER)Summer
Cars sold "AS IS" at automobile auction have what color light turned on?(ANSWER)Red
What should your first step be when opening the sale?(ANSWER)Call the bidders together
CORRECT DETAILED ANSWERS|ALREADY GRADED A
A composition of copper and silver is identified as which?(ANSWER)Pewter
When weighing silver, an ounce is what part of a pound?(ANSWER)1/12
18 karat gold jewelry is what percent gold?(ANSWER).75
An alloy of tin, lead and brass or copper is characteristic of?(ANSWER)Pewter
The design of a rug from which a weaver works is called?(ANSWER)Weft treads
Thread running from the top to bottom of a run is called what?(ANSWER)Warp threads
What information is obtained from the tag of an oriental rug?(ANSWER)City of origin
A buyer and seller agree on the purchase price of a property with no pressure on either party. This price
is referred to as:(ANSWER)Market value
Is the signature of the current owner required in the preparation of a personal property
appraisal?(ANSWER)No
Which of the following would be considered a seasonal item when appraising personal property?
Choose the letter.
A. Household items
, INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS|ALREADY GRADED A
B. Farm Machinery
C. Horses(ANSWER)B
You are appraising a piece of personal property. Which of the following is not factored into the
appraisal? Choose the letter.
A. Condition of the item
B. Age of the item
C. Availability of like items
D. Amount of repair work needed(ANSWER)D
In preparing a farm equipment option, it is necessary to do all of the following except:
A. Line up machinery in rows
B. Place like machinery together
C. Put all accessories with their accompanying piece of equipment(ANSWER)B
What is the "worst" season to sell farm equipment?(ANSWER)Summer
Cars sold "AS IS" at automobile auction have what color light turned on?(ANSWER)Red
What should your first step be when opening the sale?(ANSWER)Call the bidders together
