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Auctioneer Exam
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1. Auction 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
2. Auctioneer 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
.
3. apprentice auc- any individual who is sponsored by an auctioneer to deal or engage in any activities
tioneer mentioned in division A or this section
4. special auction- any person who currently is subject to section 4707.071 of the revised code
eer
5. absolute auction 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.
6. Reserve auction and auction in which the seller or an agent of the seller reserves the right to
establish a stated minimum bid the right to reject or accept any or all bids or the
right to withdraw the real or personal property at any time prior to the completion
of the auction by the auctioneer.
7. Auction media- a company that provides a forum through the internet for a person to sell the
tion company person real or property via the submission of silent bids using a computer or other
electronic device .
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Auctioneer Exam
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8. Public authority any board or commission of the state or any officer or such a board or commission
or any political subdivision of the state.
9. Estate auction the auction of real or personal property of a deceased person .
10. Absentee bidding the method by which a potential purchaser authorizes a proxy to place on behalf
of the potential purchaser a written or oral bid to an auctioneer or auction firm or
an agent of an auctioneer or auction firm
11. Person an individual sole proprietor corporation limited liability company association or
partnership.
12. Auction firm a person who provides auction services
13. 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.
14. Consignee a person of auction firm that takes personal property on consignment to be sold
at auction by licensed auctioneer .
15. Firm manager the individual designated by an auction firm who is responsible for ensuring that
the auction firm complies with the chapter.
16. 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
17. fiduciary Guardians, Executors, Administrators, Trustees, ect, are all
18. testater A decedent with a valid will is called a
19. Intestate If someone dies without a valid will, its is said that they died
2/3
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Auctioneer Examhttps://www.stuvia.com/user/assistant https://www.stuvia.com/user/assistant
Auctioneer Exam
Study online at https://quizlet.com/_53zazy
1. Auction 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
2. Auctioneer 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
.
3. apprentice auc- any individual who is sponsored by an auctioneer to deal or engage in any activities
tioneer mentioned in division A or this section
4. special auction- any person who currently is subject to section 4707.071 of the revised code
eer
5. absolute auction 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.
6. Reserve auction and auction in which the seller or an agent of the seller reserves the right to
establish a stated minimum bid the right to reject or accept any or all bids or the
right to withdraw the real or personal property at any time prior to the completion
of the auction by the auctioneer.
7. Auction media- a company that provides a forum through the internet for a person to sell the
tion company person real or property via the submission of silent bids using a computer or other
electronic device .
1/3
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Auctioneer Exam
Study online at https://quizlet.com/_53zazy
8. Public authority any board or commission of the state or any officer or such a board or commission
or any political subdivision of the state.
9. Estate auction the auction of real or personal property of a deceased person .
10. Absentee bidding the method by which a potential purchaser authorizes a proxy to place on behalf
of the potential purchaser a written or oral bid to an auctioneer or auction firm or
an agent of an auctioneer or auction firm
11. Person an individual sole proprietor corporation limited liability company association or
partnership.
12. Auction firm a person who provides auction services
13. 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.
14. Consignee a person of auction firm that takes personal property on consignment to be sold
at auction by licensed auctioneer .
15. Firm manager the individual designated by an auction firm who is responsible for ensuring that
the auction firm complies with the chapter.
16. 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
17. fiduciary Guardians, Executors, Administrators, Trustees, ect, are all
18. testater A decedent with a valid will is called a
19. Intestate If someone dies without a valid will, its is said that they died
2/3
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