Arkansas Auctioneer Exam Questions
With Verified Answers
\Q\.Auction - ANSWERS✔-method of sale of real or personal property, goods, or chattels, at a
predetermined date and time, by means of verbal exchange, regular mail, telecommunications,
the internet, an electronic transmission, or a physical gesture between an auctioneer and
members of the audience
\Q\.Auctioneer - ANSWERS✔-any person who engages or who by advertising or otherwise holds
the person out as being able to engage in the calling for recognition of and the acceptance of
offers the purchase of real or personal property goods or chattels at auction either directly or
through the use of other licensed auctioneers or apprentice auctioneers .
\Q\.apprentice auctioneer - ANSWERS✔-any individual who is sponsored by an auctioneer to
deal or engage in any activities mentioned in division A or this section
\Q\.special auctioneer - ANSWERS✔-any person who currently is subject to section 4707.071 of
the revised code
\Q\.absolute auction - ANSWERS✔-and auction of real or personal property to which all of the
following apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller or an agent of the
seller.
4. The seller of the property cannot withdraw the property from the auction after the auction is
opened and there is public solicitation or calling for bids.
With Verified Answers
\Q\.Auction - ANSWERS✔-method of sale of real or personal property, goods, or chattels, at a
predetermined date and time, by means of verbal exchange, regular mail, telecommunications,
the internet, an electronic transmission, or a physical gesture between an auctioneer and
members of the audience
\Q\.Auctioneer - ANSWERS✔-any person who engages or who by advertising or otherwise holds
the person out as being able to engage in the calling for recognition of and the acceptance of
offers the purchase of real or personal property goods or chattels at auction either directly or
through the use of other licensed auctioneers or apprentice auctioneers .
\Q\.apprentice auctioneer - ANSWERS✔-any individual who is sponsored by an auctioneer to
deal or engage in any activities mentioned in division A or this section
\Q\.special auctioneer - ANSWERS✔-any person who currently is subject to section 4707.071 of
the revised code
\Q\.absolute auction - ANSWERS✔-and auction of real or personal property to which all of the
following apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller or an agent of the
seller.
4. The seller of the property cannot withdraw the property from the auction after the auction is
opened and there is public solicitation or calling for bids.
