GA AUCTION STUDY EXAM GUIDE QUESTIONS AND
ANSWERS GRADED A+
agent of an auctioneer or auction firm
✔✔Person - ✔✔an individual sole proprietor corporation limited liability company
association or partnership.
✔✔Auction firm - ✔✔a person who provides auction services
✔✔Auction services - ✔✔arranging managing and sponsoring a personal property
auction
Auction services~ includes the taking and advertising of personal property on
consignment to be sold at auction by a licensed auctioneer.
✔✔Consignee - ✔✔a person of auction firm that takes personal property on
consignment to be sold at auction by licensed auctioneer .
✔✔Firm manager - ✔✔the individual designated by an auction firm who is responsible
for ensuring that the auction firm complies with the chapter.
✔✔sealed bidding - ✔✔A method of submitting a bid in writing by one or more person
following which the bids are opened at an advertised predetermined time and place and
after a review of all the bids received the real or personal property is awarded to the
highest and most responsive bidder
✔✔fiduciary - ✔✔Guardians, Executors, Administrators, Trustees, ect, are all
✔✔testater - ✔✔A decedent with a valid will is called a
✔✔Intestate - ✔✔If someone dies without a valid will, its is said that they died
✔✔Estate- Gaurdinship - ✔✔What are the two types of case overseen by probate
court?
✔✔Guardinship of person guardinship of financial - ✔✔what are the two types of
guardianships?
✔✔Incompitant (delared) - ✔✔If someone is "Ward" of a guardianship you know that
person
✔✔YES - ✔✔Can you apply to be appointed as a guardian of someone?
ANSWERS GRADED A+
agent of an auctioneer or auction firm
✔✔Person - ✔✔an individual sole proprietor corporation limited liability company
association or partnership.
✔✔Auction firm - ✔✔a person who provides auction services
✔✔Auction services - ✔✔arranging managing and sponsoring a personal property
auction
Auction services~ includes the taking and advertising of personal property on
consignment to be sold at auction by a licensed auctioneer.
✔✔Consignee - ✔✔a person of auction firm that takes personal property on
consignment to be sold at auction by licensed auctioneer .
✔✔Firm manager - ✔✔the individual designated by an auction firm who is responsible
for ensuring that the auction firm complies with the chapter.
✔✔sealed bidding - ✔✔A method of submitting a bid in writing by one or more person
following which the bids are opened at an advertised predetermined time and place and
after a review of all the bids received the real or personal property is awarded to the
highest and most responsive bidder
✔✔fiduciary - ✔✔Guardians, Executors, Administrators, Trustees, ect, are all
✔✔testater - ✔✔A decedent with a valid will is called a
✔✔Intestate - ✔✔If someone dies without a valid will, its is said that they died
✔✔Estate- Gaurdinship - ✔✔What are the two types of case overseen by probate
court?
✔✔Guardinship of person guardinship of financial - ✔✔what are the two types of
guardianships?
✔✔Incompitant (delared) - ✔✔If someone is "Ward" of a guardianship you know that
person
✔✔YES - ✔✔Can you apply to be appointed as a guardian of someone?
