GA AUCTION STUDY LATEST
GUIDE
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
The seller in a bulk transfer must furnish a list if creditors to the Auctioneer before
the contract is signed.
T or F - ANSWERS-True
QUESTION 2
An auctioneer who has not followed legal procedures may be responsible for a
crime involving firearms sold at auction.
T or F - ANSWERS-True
QUESTION 3
Failure of an Auctioneer to give notice to creditors in a Bulk Transfer does not
affect title of property to buyers. - ANSWERS-True
END OF
PAGE
1
, GA AUCTION STUDY LATEST
GUIDE
QUESTION 4
Knowingly misrepresenting property by an Auctioneer at an auction constitutes: -
ANSWERS-Fraud
QUESTION 5
As an auctioneer, you are permitted to sell for profit 5 used cars per year without a
used car license.
T or F - ANSWERS-False
QUESTION 6
To sell firearms at a consignment auction, you must - ANSWERS-Have a
auctioneers & firearms license
QUESTION 7
Whig is the most inappropriate way to secure and auction listing? - ANSWERS-
Set up an office in the funeral home
END OF
PAGE
2
, GA AUCTION STUDY LATEST
GUIDE
QUESTION 8
In selling wavy equipment your advertising should include serial numbers -
ANSWERS-To locate stolen property, to locate pledged property, to identify
model & year, if it is a bulk transfer
QUESTION 9
The most important person at an auction - ANSWERS-Auctioneer
QUESTION 10
You must have an auctioneers and real estate license to auction real property in
GA.
T or F? - ANSWERS-True
QUESTION 11
END OF
PAGE
3
, GA AUCTION STUDY LATEST
GUIDE
The auctioneers fiduciary relationship is usually with the buyer.
T or F - ANSWERS-False
QUESTION 12
The real estate broker who sells only real property auction is exempt from
requirements for auctioneer licensing.
T or F - ANSWERS-False
QUESTION 13
A full time Auctioneer is - ANSWERS-An auctioneer who owns his own
company, an auctioneer who works exclusively doe another auction company
QUESTION 14
A company desiring to obtain an auction company license, requires no training.
T or F - ANSWERS-True
QUESTION 15
END OF
PAGE
4
GUIDE
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
The seller in a bulk transfer must furnish a list if creditors to the Auctioneer before
the contract is signed.
T or F - ANSWERS-True
QUESTION 2
An auctioneer who has not followed legal procedures may be responsible for a
crime involving firearms sold at auction.
T or F - ANSWERS-True
QUESTION 3
Failure of an Auctioneer to give notice to creditors in a Bulk Transfer does not
affect title of property to buyers. - ANSWERS-True
END OF
PAGE
1
, GA AUCTION STUDY LATEST
GUIDE
QUESTION 4
Knowingly misrepresenting property by an Auctioneer at an auction constitutes: -
ANSWERS-Fraud
QUESTION 5
As an auctioneer, you are permitted to sell for profit 5 used cars per year without a
used car license.
T or F - ANSWERS-False
QUESTION 6
To sell firearms at a consignment auction, you must - ANSWERS-Have a
auctioneers & firearms license
QUESTION 7
Whig is the most inappropriate way to secure and auction listing? - ANSWERS-
Set up an office in the funeral home
END OF
PAGE
2
, GA AUCTION STUDY LATEST
GUIDE
QUESTION 8
In selling wavy equipment your advertising should include serial numbers -
ANSWERS-To locate stolen property, to locate pledged property, to identify
model & year, if it is a bulk transfer
QUESTION 9
The most important person at an auction - ANSWERS-Auctioneer
QUESTION 10
You must have an auctioneers and real estate license to auction real property in
GA.
T or F? - ANSWERS-True
QUESTION 11
END OF
PAGE
3
, GA AUCTION STUDY LATEST
GUIDE
The auctioneers fiduciary relationship is usually with the buyer.
T or F - ANSWERS-False
QUESTION 12
The real estate broker who sells only real property auction is exempt from
requirements for auctioneer licensing.
T or F - ANSWERS-False
QUESTION 13
A full time Auctioneer is - ANSWERS-An auctioneer who owns his own
company, an auctioneer who works exclusively doe another auction company
QUESTION 14
A company desiring to obtain an auction company license, requires no training.
T or F - ANSWERS-True
QUESTION 15
END OF
PAGE
4
