Indiana Auctioneer Licensure Exam
Indiana Auctioneer Licensure Exam
Study online at https://quizlet.com/_ioxfb1
A composition of copper and silver is identified as which? Pewter
When weighing silver, an ounce is what part of a pound? 1/12
18 karat gold jewelry is what percent gold? .75
An alloy of tin, lead and brass or copper is characteristic of? Pewter
The design of a rug from which a weaver works is called? Weft treads
Thread running from the top to bottom of a run is called what? Warp threads
What information is obtained from the tag of an oriental rug? City of origin
A buyer and seller agree on the purchase price of a property with no pressure on either party.
Market value
This price is referred to as:
Is the signature of the current owner required in the preparation of a personal property
No
appraisal?
Which of the following would be considered a seasonal item when appraising personal
property? Choose the letter.
B
A. Household items
B. Farm Machinery
C. Horses
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 D
B. Age of the item
C. Availability of like items
D. Amount of repair work needed
In preparing a farm equipment option, it is necessary to do all of the following except:
A. Line up machinery in rows B
B. Place like machinery together
C. Put all accessories with their accompanying piece of equipment
What is the "worst" season to sell farm equipment? Summer
Cars sold "AS IS" at automobile auction have what color light turned on? Red
What should your first step be when opening the sale? Call the bidders together
When representing an absentee bidder, it is acceptable to start the bid where? At half of the maximum absentee bid
Opening statements should be: Given with assertiveness to establish who is in control
Once a ringman has made the auctioneer aware of the location of a bidder, he should: Let the auctioneer watch that bidder and look for other bidders
Gifts of real estate by a will are called: a devise
When estate sales lack funds to pay all debts, who gets paid first? Probate courts and administrators
Which of the following is required to obtain an Auction Company License to conduct auc-
tions?
A. Auctioneer C
B. Auction House
C. Real Estate Company
D. Livestock Auction Pavilion
1/3
Page 1
Indiana Auctioneer Licensure Exam
Study online at https://quizlet.com/_ioxfb1
A composition of copper and silver is identified as which? Pewter
When weighing silver, an ounce is what part of a pound? 1/12
18 karat gold jewelry is what percent gold? .75
An alloy of tin, lead and brass or copper is characteristic of? Pewter
The design of a rug from which a weaver works is called? Weft treads
Thread running from the top to bottom of a run is called what? Warp threads
What information is obtained from the tag of an oriental rug? City of origin
A buyer and seller agree on the purchase price of a property with no pressure on either party.
Market value
This price is referred to as:
Is the signature of the current owner required in the preparation of a personal property
No
appraisal?
Which of the following would be considered a seasonal item when appraising personal
property? Choose the letter.
B
A. Household items
B. Farm Machinery
C. Horses
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 D
B. Age of the item
C. Availability of like items
D. Amount of repair work needed
In preparing a farm equipment option, it is necessary to do all of the following except:
A. Line up machinery in rows B
B. Place like machinery together
C. Put all accessories with their accompanying piece of equipment
What is the "worst" season to sell farm equipment? Summer
Cars sold "AS IS" at automobile auction have what color light turned on? Red
What should your first step be when opening the sale? Call the bidders together
When representing an absentee bidder, it is acceptable to start the bid where? At half of the maximum absentee bid
Opening statements should be: Given with assertiveness to establish who is in control
Once a ringman has made the auctioneer aware of the location of a bidder, he should: Let the auctioneer watch that bidder and look for other bidders
Gifts of real estate by a will are called: a devise
When estate sales lack funds to pay all debts, who gets paid first? Probate courts and administrators
Which of the following is required to obtain an Auction Company License to conduct auc-
tions?
A. Auctioneer C
B. Auction House
C. Real Estate Company
D. Livestock Auction Pavilion
1/3
Page 1
