TEXAS AUCTIONEER GUARANTEED 100% PASS
WITH VERIFIED QUESTIONS AND ANSWERS
THAT ARE GRADED A+
What notifications must be made by a licensee prior to a sale? - ANSWER1. the name
and license number of the auctioneer 2. the terms and conditions of the sale; i.e. if there
will be a buyer's premium 3. if the seller has a right to bid
T of F. Straw bidding is allowed at Texas licensed auction sales? - ANSWERFalse.
Where must the state licensing department contact information be posted? -
ANSWEROne of 3 places at a minimum. 1. Sign at the sale 2. on the bill of sale/receipt
3. on the bidder cards
T or F. An auction associate licensee may not bid call. - ANSWERFalse
T or F. An auction associate may conduct an auction without the presence of his
employing auctioneer. - ANSWERFalse.
How many auctions must an associate auctioneer participate in to obtain a license? -
ANSWER10
T or F. An auction associate must take an exam to obtain a license. - ANSWERFalse.
As long as he has performed auction duties in at least 10 auctions, employed by a
licensed auctioneer, he can get a license.
T or F. CE is required for inactive licenses. - ANSWERFalse. But CE must be
completed in the prior year of license being activated after inactive status.
If an auction ad says, "Subject to Seller Confirmation" what does that indicate? -
ANSWERA reserve auction.
T or F. An express contract cannot be oral. - ANSWERFalse. An express contract can
be in writing or oral, all terms are stated.
T or F. A contract must be in writing to be enforced in the State of Texas. -
ANSWERTrue.
A is an agreement that creates an obligation between two or
more parties. - ANSWERContract
T or F. An agency relationship is ALWAYS in writing. - ANSWERFalse. Agency can be
implied or expressed, oral or in writing.
Who can terminate an agency relationship? - ANSWERThe principal or the agent.
T or F. An auctioneer is NOT an agent. - ANSWERFalse. An auctioneer is an agent of
the property owner if a contract is executed.
,Name some persons who are exempt from needing an auctioneer license. -
ANSWER1.U.S. court ordered sale
2. A government-sponsored or conducted sale.
3. A charitable organization as long as no compensation
4. A sale of real property by a trustee under a security instrument.
5.A sale of real property by an owner with an interest or employee (unless he/she is a
licensed auctioneer by trade) and all property is under a security instrument
6. sealed bid auction w/o option to bid again
7. livestock sales
8. automobile auctions
T or F. An auctioneer owes a tax or fee to the state based on his services for each
auction. – ANSWER False. Auctioneers cannot be taxed on their services if they are
dulylicensed.
T or F. A person auctioning items online needs a license. – ANSWER False.
Licenses arenot required for online auctions/sales.
A licensed auctioneer can perform an auction for what three entities? - ANSWER1. a
registered auction firm 2. a real estate broker with an auction license 3. a dealer or
wholesaler of motor vehicles if they hold the proper registered number.
Name the requirements for obtaining an auction license. - ANSWER1. at least 18 years
of age.
2. has a high school diploma
3. is a U.S. citizen or legal alien
4. has taken 80 hours of approved coursework
5. has passed a state exam OR
6. has worked two years for a licensed auctioneer and has worked 10 auctions
What are the requirements to receive an associate auctioneer license? - ANSWER1.
Works for a licensed auctioneer.
2. is a U.S. citizen or legal alien
, How many times may an applicant re-test per year? - ANSWER2; AND then must wait a
year to re-apply.
WITH VERIFIED QUESTIONS AND ANSWERS
THAT ARE GRADED A+
What notifications must be made by a licensee prior to a sale? - ANSWER1. the name
and license number of the auctioneer 2. the terms and conditions of the sale; i.e. if there
will be a buyer's premium 3. if the seller has a right to bid
T of F. Straw bidding is allowed at Texas licensed auction sales? - ANSWERFalse.
Where must the state licensing department contact information be posted? -
ANSWEROne of 3 places at a minimum. 1. Sign at the sale 2. on the bill of sale/receipt
3. on the bidder cards
T or F. An auction associate licensee may not bid call. - ANSWERFalse
T or F. An auction associate may conduct an auction without the presence of his
employing auctioneer. - ANSWERFalse.
How many auctions must an associate auctioneer participate in to obtain a license? -
ANSWER10
T or F. An auction associate must take an exam to obtain a license. - ANSWERFalse.
As long as he has performed auction duties in at least 10 auctions, employed by a
licensed auctioneer, he can get a license.
T or F. CE is required for inactive licenses. - ANSWERFalse. But CE must be
completed in the prior year of license being activated after inactive status.
If an auction ad says, "Subject to Seller Confirmation" what does that indicate? -
ANSWERA reserve auction.
T or F. An express contract cannot be oral. - ANSWERFalse. An express contract can
be in writing or oral, all terms are stated.
T or F. A contract must be in writing to be enforced in the State of Texas. -
ANSWERTrue.
A is an agreement that creates an obligation between two or
more parties. - ANSWERContract
T or F. An agency relationship is ALWAYS in writing. - ANSWERFalse. Agency can be
implied or expressed, oral or in writing.
Who can terminate an agency relationship? - ANSWERThe principal or the agent.
T or F. An auctioneer is NOT an agent. - ANSWERFalse. An auctioneer is an agent of
the property owner if a contract is executed.
,Name some persons who are exempt from needing an auctioneer license. -
ANSWER1.U.S. court ordered sale
2. A government-sponsored or conducted sale.
3. A charitable organization as long as no compensation
4. A sale of real property by a trustee under a security instrument.
5.A sale of real property by an owner with an interest or employee (unless he/she is a
licensed auctioneer by trade) and all property is under a security instrument
6. sealed bid auction w/o option to bid again
7. livestock sales
8. automobile auctions
T or F. An auctioneer owes a tax or fee to the state based on his services for each
auction. – ANSWER False. Auctioneers cannot be taxed on their services if they are
dulylicensed.
T or F. A person auctioning items online needs a license. – ANSWER False.
Licenses arenot required for online auctions/sales.
A licensed auctioneer can perform an auction for what three entities? - ANSWER1. a
registered auction firm 2. a real estate broker with an auction license 3. a dealer or
wholesaler of motor vehicles if they hold the proper registered number.
Name the requirements for obtaining an auction license. - ANSWER1. at least 18 years
of age.
2. has a high school diploma
3. is a U.S. citizen or legal alien
4. has taken 80 hours of approved coursework
5. has passed a state exam OR
6. has worked two years for a licensed auctioneer and has worked 10 auctions
What are the requirements to receive an associate auctioneer license? - ANSWER1.
Works for a licensed auctioneer.
2. is a U.S. citizen or legal alien
, How many times may an applicant re-test per year? - ANSWER2; AND then must wait a
year to re-apply.
