TEXAS AUCTIONEER LICENSE EXAM ACTUAL EXAM COMPLETE QUESTIONS
WITH DETAILED VERIFIED, Exams of Nursing
Antique - ANSWER- Any work of art, piece of furniture, decorative object, or
the like, created or produced in a former period, or, according to U.S. customs
laws, 100 years before date of purchase.
Bank letter of guarantee - ANSWERa letter issued by a bank on behalf of a
customer guaranteeing payment up to the amount stated in the letter.
Buyer's premium - ANSWERA percentage of the high bid added to the
"hammer price" of an item.
Commission - ANSWER- The fee charged to the seller by the auctioneer for
providing services; usually a percentage of the gross selling price of the
item(s) established by contract (the Listing Agreement) prior to the auction.
Conditions of sale - ANSWERThe legal terms that govern an auction, including
acceptable payment terms, buyer's premiums, possession and removal of
goods (including storage), absolute or reserve auction, and other agree upon
terms.
WITH DETAILED VERIFIED, Exams of Nursing
Antique - ANSWER- Any work of art, piece of furniture, decorative object, or
the like, created or produced in a former period, or, according to U.S. customs
laws, 100 years before date of purchase.
Bank letter of guarantee - ANSWERa letter issued by a bank on behalf of a
customer guaranteeing payment up to the amount stated in the letter.
Buyer's premium - ANSWERA percentage of the high bid added to the
"hammer price" of an item.
Commission - ANSWER- The fee charged to the seller by the auctioneer for
providing services; usually a percentage of the gross selling price of the
item(s) established by contract (the Listing Agreement) prior to the auction.
Conditions of sale - ANSWERThe legal terms that govern an auction, including
acceptable payment terms, buyer's premiums, possession and removal of
goods (including storage), absolute or reserve auction, and other agree upon
terms.
