NORTH CAROLINA AUCTIONEER TEST – Questions
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What is the minimum amount of time
1 that the State Auction test be given 2 What is an "Auction"
per year?
How many members of the NC
3 Auctioneers Commission shall be 4 What is an "Estate Sale"
auctioneers?
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Terms in this set (99)
What is an "Auction" The sale of goods or real estate by means of
exchanges between an auctioneer and members of
an audience, the exchanges consisting of a series of
invitations for offers made by the auctioneer of the
highest or most favorable offer
, What is an "Auctioneer" Any person who conducts or offers to conduct
auctions and includes apprentice auctioneers except
as stricter standards are specified by this Chapter for
apprentice auctioneers.
What is an "Owner" Bona fide owner of the property being offered for
sale. "Owner" could also be someone acting on
behalf of a corporation offering items for sale
What is an "Absolute Auction" Sale of real or personal property at auction where
the item is sold to the highest bidder without reserve.
What is an "Estate Sale" Liquidation by sale at auction of real or personal
property by a specified person
What is an "Auction Firm" Sole proprietorship where the owner is not an
auctioneer; any business that sells through agents at
auction or arranges, sponsors, manages, conducts or
advertises auctions.
What is a "Fund" Auctioneer Recovery Fund
What is "Auctioneering" ("Conduct of Calling bids, contracting auction, accepting
Auction" "Conduct of Business" consignments for auction, advertising an auction,
offering items for sale at auction, accepting or
disbursing money for items sold at auction, or
managing an auction or auction firm.
What is "Consignment" Delivering or transferring goods or real estate to an
auctioneer or agent for the purpose of resale at
auction.
What is "Designated Person" Person approved by the Board to have the authority
to transact business for a licensed auction firm
With Verified Solutions
Save Groups
Practice questions for this set
Learn 1 /7 Study using Learn
2 times
Choose an answer
What is the minimum amount of time
1 that the State Auction test be given 2 What is an "Auction"
per year?
How many members of the NC
3 Auctioneers Commission shall be 4 What is an "Estate Sale"
auctioneers?
Don't know?
Terms in this set (99)
What is an "Auction" The sale of goods or real estate by means of
exchanges between an auctioneer and members of
an audience, the exchanges consisting of a series of
invitations for offers made by the auctioneer of the
highest or most favorable offer
, What is an "Auctioneer" Any person who conducts or offers to conduct
auctions and includes apprentice auctioneers except
as stricter standards are specified by this Chapter for
apprentice auctioneers.
What is an "Owner" Bona fide owner of the property being offered for
sale. "Owner" could also be someone acting on
behalf of a corporation offering items for sale
What is an "Absolute Auction" Sale of real or personal property at auction where
the item is sold to the highest bidder without reserve.
What is an "Estate Sale" Liquidation by sale at auction of real or personal
property by a specified person
What is an "Auction Firm" Sole proprietorship where the owner is not an
auctioneer; any business that sells through agents at
auction or arranges, sponsors, manages, conducts or
advertises auctions.
What is a "Fund" Auctioneer Recovery Fund
What is "Auctioneering" ("Conduct of Calling bids, contracting auction, accepting
Auction" "Conduct of Business" consignments for auction, advertising an auction,
offering items for sale at auction, accepting or
disbursing money for items sold at auction, or
managing an auction or auction firm.
What is "Consignment" Delivering or transferring goods or real estate to an
auctioneer or agent for the purpose of resale at
auction.
What is "Designated Person" Person approved by the Board to have the authority
to transact business for a licensed auction firm
