INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS GRADED A

INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS GRADED A Which of the following is required to obtain an Auction Company License to conduct auctions? A. Auctioneer B. Auction House C. Real Estate Company D. Livestock Auction Pavilion - ANSWER-C How are commissioners paid? - ANSWER-Per Diem An auctioneer who has been subjected to disciplinary sanctions may be required by the commission to pay what? - ANSWER-Cost of witness attending and mileage A mixed breed of cattle is called what? - ANSWER-Grade animal Brucellosis (bangs) disease causes female animals to: - ANSWER-Abort When transporting horses interstate, what disease must they be treated for? - ANSWER-Coggins What species does Cribbing affect? - ANSWER-Horses Herd reduction is also known as? - ANSWER-Culling Underground storage tanks not regulated by the EPA are farm and residential tanks _______ gallons or less. - ANSWER-1100 When selling real estate at auction, the auctioneer should get how much deposit the day of sale? - ANSWER-An amount agreeable to the parties An owner must complete and sign a disclosure form and submit the form to a prospective buyer before an offer is accepted for the sale of residential real estate. Which of the following properties would not be exempt from using this form? A. Foreclosure B. Eminent domain C. 3 bedroom home D. Bankruptcy - ANSWER-C In order to be considered an underground storage tank, what percentage of the tank must be underground? - ANSWER-10 What type of deed would you normally receive from real property purchased from an estate? - ANSWER-Special warranty deed A composition of copper and silver is identified as which? - ANSWER-Pewter When weighing silver, an ounce is what part of a pound? - ANSWER-1/12 18 karat gold jewelry is what percent gold? - ANSWER-.75 An alloy of tin, lead and brass or copper is characteristic of? - ANSWER-Pewter The design of a rug from which a weaver works is called? - ANSWER-Weft treads Thread running from the top to bottom of a run is called what? - ANSWER-Warp threads What information is obtained from the tag of an oriental rug? - ANSWER-City of origin