GA AUCTION ACTUAL UPDATED QUESTIONS AND
ANSWERS GRADED A+
✔✔The Georgia auctioneer commission is composed of six auctioneers and one other
person not connected with the auction business.
T or F - ✔✔False
✔✔An unlicensed person can conduct auctions by being supervised by a licensed
auctioneer.
T or F - ✔✔False
✔✔In an agency relationship you are entitled to receive compensation if - ✔✔You are a
legally licensed Auctioneer
✔✔An unlicensed person can conduct auctions I livestock legally without being licensed
T or F - ✔✔True
✔✔The biennial license fee for an auctioneer is $200
T or F - ✔✔False
✔✔A Copy of an auction contract must be held in file for 3 years
T or F - ✔✔True
✔✔Misrepresentation of property sold at an auction is considered a major violation of
auction law.
T or F - ✔✔True
✔✔An auction clerk must also hold an auctioneers license.
T or F - ✔✔False
✔✔The purpose of the auction license law is to protect the public.
T or F - ✔✔T
✔✔An individual serving a three year apprenticeship under a licensed auctioneer does
not have to attend an auction school.
T or F - ✔✔False
✔✔The auctioneers commission is elected by the licenses of this state.
T or F - ✔✔False
✔✔All advertising by an auctioneer must include their name, address, and license
number.
T or F - ✔✔False
, ✔✔When advertising an absolute auction, you are allowed to withdraw any item that did
not receive a bid of at least 65% of it's origins cost.
T or F - ✔✔False
✔✔At an absolute auction it is legal for the owner of the property to have an agent to bid
on their behalf.
T or F - ✔✔False
✔✔It is legal at an absolute auction to require a minimum opening bid.
T or F - ✔✔False
✔✔You must have an auctioneers license to conduct a fundraising auction.
T or F - ✔✔True
✔✔An owner of property to be sold may bid, if that fact is announced at the beginning of
the sale, and that the sale was not advertised or announced as absolute.
T or F - ✔✔True
✔✔In order to renew your auctioneers license you must attend an eight hour continuing
education seminar every year.
T or F - ✔✔False
✔✔An auction company licenses must maintain an escrow account.
T or F - ✔✔True
✔✔A license auctioneer may or may not choose to hold a company license.
T or F - ✔✔True
✔✔A licensed auctioneer is responsible for all risks of an exempt auction company.
T or F - ✔✔True
✔✔The principal auctioneer must issue a closing statement for all auctions that they
conduct.
T or F - ✔✔True
✔✔The principal auctioneer is responsible for including their name and license number
and/or the auction company's name and license number in all advertising of an auction.
T or F - ✔✔True
✔✔Auctioneers and auction companies both must maintain an escrow account.
T or F - ✔✔
ANSWERS GRADED A+
✔✔The Georgia auctioneer commission is composed of six auctioneers and one other
person not connected with the auction business.
T or F - ✔✔False
✔✔An unlicensed person can conduct auctions by being supervised by a licensed
auctioneer.
T or F - ✔✔False
✔✔In an agency relationship you are entitled to receive compensation if - ✔✔You are a
legally licensed Auctioneer
✔✔An unlicensed person can conduct auctions I livestock legally without being licensed
T or F - ✔✔True
✔✔The biennial license fee for an auctioneer is $200
T or F - ✔✔False
✔✔A Copy of an auction contract must be held in file for 3 years
T or F - ✔✔True
✔✔Misrepresentation of property sold at an auction is considered a major violation of
auction law.
T or F - ✔✔True
✔✔An auction clerk must also hold an auctioneers license.
T or F - ✔✔False
✔✔The purpose of the auction license law is to protect the public.
T or F - ✔✔T
✔✔An individual serving a three year apprenticeship under a licensed auctioneer does
not have to attend an auction school.
T or F - ✔✔False
✔✔The auctioneers commission is elected by the licenses of this state.
T or F - ✔✔False
✔✔All advertising by an auctioneer must include their name, address, and license
number.
T or F - ✔✔False
, ✔✔When advertising an absolute auction, you are allowed to withdraw any item that did
not receive a bid of at least 65% of it's origins cost.
T or F - ✔✔False
✔✔At an absolute auction it is legal for the owner of the property to have an agent to bid
on their behalf.
T or F - ✔✔False
✔✔It is legal at an absolute auction to require a minimum opening bid.
T or F - ✔✔False
✔✔You must have an auctioneers license to conduct a fundraising auction.
T or F - ✔✔True
✔✔An owner of property to be sold may bid, if that fact is announced at the beginning of
the sale, and that the sale was not advertised or announced as absolute.
T or F - ✔✔True
✔✔In order to renew your auctioneers license you must attend an eight hour continuing
education seminar every year.
T or F - ✔✔False
✔✔An auction company licenses must maintain an escrow account.
T or F - ✔✔True
✔✔A license auctioneer may or may not choose to hold a company license.
T or F - ✔✔True
✔✔A licensed auctioneer is responsible for all risks of an exempt auction company.
T or F - ✔✔True
✔✔The principal auctioneer must issue a closing statement for all auctions that they
conduct.
T or F - ✔✔True
✔✔The principal auctioneer is responsible for including their name and license number
and/or the auction company's name and license number in all advertising of an auction.
T or F - ✔✔True
✔✔Auctioneers and auction companies both must maintain an escrow account.
T or F - ✔✔
