GA Auction Study Guide 2024/2025
Exam Questions and Corresponding
Answers with Surety of 100% Pass Mark
An auction listing contract - 🧠ANSWER ✔✔Must be written to be
enforceable
Seller - 🧠ANSWER ✔✔In the contracting to operate a consignment auction
this determine the rules of the sale between the auctioneer and the _____
If a public auction your seller directs you to disregard ethical behavior, you
should: - 🧠ANSWER ✔✔Avoid the seller
A real estate deed is a document to determine; - 🧠ANSWER ✔✔Convey
land ownership
An auctioneers license number must be displayed on: - 🧠ANSWER ✔✔All
advertising of all auctions
An auctioneers first agency obligation is to - 🧠ANSWER ✔✔Sellers
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
,How should an auctioneer dress? - 🧠ANSWER ✔✔Comparable with your
bidders
The best chant for an auctioneer is to be: - 🧠ANSWER ✔✔Easily
understood
liquidation auction - 🧠ANSWER ✔✔Selling remaining inventory at auction
The Auction Commission can regulate the amount of commission you can
charge to sell real estate.
T or F - 🧠ANSWER ✔✔False
Registration of bidders at an auction - 🧠ANSWER ✔✔Creates a mailing list
If a licensed Auctioneer allows an unlicensed person to call their auction,
both parties have violated the law.
T or F - 🧠ANSWER ✔✔True
A chapter 11 bankruptcy is a debtor in possession who has filed for
reorganization.
T or F - 🧠ANSWER ✔✔True
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
,At an absolute auction you can legally - 🧠ANSWER ✔✔Withdraw and item
if no bid is received within a reasonable time.
At a court ordered auction conducted by an attorney, the attorney must
hold an Auctioneers license.
T or F - 🧠ANSWER ✔✔True
Principal - 🧠ANSWER ✔✔In an agency situation, when a seller authorizes
you to sell their property.
A closing statement - 🧠ANSWER ✔✔1. Must include name and address of
seller, price property sold for, date and location where sale was conducted,
and date the seller was paid.
How long must a closing statement be kept on record? - 🧠ANSWER ✔✔3
years
Real Property - 🧠ANSWER ✔✔Land with permanent building thereon
Example of surcharge at an auction - 🧠ANSWER ✔✔10% buyer's premium
An auctioneer may bid on behalf of the seller during the auction when: -
🧠ANSWER ✔✔Prior notice has been given
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 3
STATEMENT. ALL RIGHTS RESERVED
, Federal laws regulating sell of firearms at an auction apply when? -
🧠ANSWER ✔✔Always apply
Personal property is anything that can be moved. True or False? -
🧠ANSWER ✔✔
A title to real property requires: - 🧠ANSWER ✔✔A copy of the deed to be
transferred.
A lein on personal property is not enforceable and prohibits property being
transferred before the lein is settled.
T or F? - 🧠ANSWER ✔✔False
The use of false bidder, by bidders, cappers, or shills to raise the bid may: -
🧠ANSWER ✔✔Lead to revocation of your license
Mechanic Lein - 🧠ANSWER ✔✔Applies to autos repairs, attaches to
property that labor and materials went into, and can attach to either real or
personal property.
Real property tax lean - 🧠ANSWER ✔✔Taking precedence over all
Valid Auction Contract's may: - 🧠ANSWER ✔✔Be a legal agreement
between competent parties
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 4
STATEMENT. ALL RIGHTS RESERVED
Exam Questions and Corresponding
Answers with Surety of 100% Pass Mark
An auction listing contract - 🧠ANSWER ✔✔Must be written to be
enforceable
Seller - 🧠ANSWER ✔✔In the contracting to operate a consignment auction
this determine the rules of the sale between the auctioneer and the _____
If a public auction your seller directs you to disregard ethical behavior, you
should: - 🧠ANSWER ✔✔Avoid the seller
A real estate deed is a document to determine; - 🧠ANSWER ✔✔Convey
land ownership
An auctioneers license number must be displayed on: - 🧠ANSWER ✔✔All
advertising of all auctions
An auctioneers first agency obligation is to - 🧠ANSWER ✔✔Sellers
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
,How should an auctioneer dress? - 🧠ANSWER ✔✔Comparable with your
bidders
The best chant for an auctioneer is to be: - 🧠ANSWER ✔✔Easily
understood
liquidation auction - 🧠ANSWER ✔✔Selling remaining inventory at auction
The Auction Commission can regulate the amount of commission you can
charge to sell real estate.
T or F - 🧠ANSWER ✔✔False
Registration of bidders at an auction - 🧠ANSWER ✔✔Creates a mailing list
If a licensed Auctioneer allows an unlicensed person to call their auction,
both parties have violated the law.
T or F - 🧠ANSWER ✔✔True
A chapter 11 bankruptcy is a debtor in possession who has filed for
reorganization.
T or F - 🧠ANSWER ✔✔True
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
,At an absolute auction you can legally - 🧠ANSWER ✔✔Withdraw and item
if no bid is received within a reasonable time.
At a court ordered auction conducted by an attorney, the attorney must
hold an Auctioneers license.
T or F - 🧠ANSWER ✔✔True
Principal - 🧠ANSWER ✔✔In an agency situation, when a seller authorizes
you to sell their property.
A closing statement - 🧠ANSWER ✔✔1. Must include name and address of
seller, price property sold for, date and location where sale was conducted,
and date the seller was paid.
How long must a closing statement be kept on record? - 🧠ANSWER ✔✔3
years
Real Property - 🧠ANSWER ✔✔Land with permanent building thereon
Example of surcharge at an auction - 🧠ANSWER ✔✔10% buyer's premium
An auctioneer may bid on behalf of the seller during the auction when: -
🧠ANSWER ✔✔Prior notice has been given
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 3
STATEMENT. ALL RIGHTS RESERVED
, Federal laws regulating sell of firearms at an auction apply when? -
🧠ANSWER ✔✔Always apply
Personal property is anything that can be moved. True or False? -
🧠ANSWER ✔✔
A title to real property requires: - 🧠ANSWER ✔✔A copy of the deed to be
transferred.
A lein on personal property is not enforceable and prohibits property being
transferred before the lein is settled.
T or F? - 🧠ANSWER ✔✔False
The use of false bidder, by bidders, cappers, or shills to raise the bid may: -
🧠ANSWER ✔✔Lead to revocation of your license
Mechanic Lein - 🧠ANSWER ✔✔Applies to autos repairs, attaches to
property that labor and materials went into, and can attach to either real or
personal property.
Real property tax lean - 🧠ANSWER ✔✔Taking precedence over all
Valid Auction Contract's may: - 🧠ANSWER ✔✔Be a legal agreement
between competent parties
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 4
STATEMENT. ALL RIGHTS RESERVED
