PA AUCTIONEER EXAM 2024 ACTUAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS
Intestate means: - ANSWER: legal term for dying without a will
The prime time for auto auctions is normally considered to be - ANSWER: January
thru May
Tobacco is sold by the pound and also by the - ANSWER: Sheets
The individual appointed by the testator to administer the will is Called an -
ANSWER: executrix/executor
When a buyer moves an item from a table or box to another box in an attempt to
Hide the item is known as - ANSWER: saltiing
An agreement between two parties to perform or refrain from doing something Is a -
ANSWER: . bilateral agreement
Real Property owned by a marriage would usually be Held as - ANSWER: tenants by
the entirety
Pressed glass is best described as - ANSWER: manufactured
John's gas expense was $500 and his total expenses were $4000.Gas was what % of
his total - ANSWER: 12.50%
An auctioneer must display their license - ANSWER: in their office, prominently
If there is no actual promise stated in the contract it is said To be - ANSWER: implied
Which of the following warranties are covered under the UCC - ANSWER: warranty of
merchantability and fitness
A person employed or placed in the audience by the auctioneer, seller, or anyone to
run up the bids is called - ANSWER: a shill
If real estate is to be sold at noon, what is the best time for appliances to be sold -
ANSWER: Immediately after or 12:30 PM
A grade animal has - ANSWER: mixed or unknown ancestry
The Federal Firearms Law is applicble to selling any firearms after - ANSWER: 1898
, Which of the following may be handed to the buyer at a sale or auction - ANSWER:
rifles
On the balance sheet, accounts receivables is a - ANSWER: asset
Which of the following is not a linear measure - ANSWER: acre
Under the UCC, if the goods being sold at Auction - ANSWER: and the goods are sold
in lots each lot is considered a separate sale
b. the sale is complete when the auctioneer says
"sold"
c. the sale is with reserve unless other wise stated
During the auction, selling an item out of order - ANSWER: excludes prospective
bidders, causes disruption
When advertising real estate, is it ok to Say for mature couple
b. near the Jewish Community Center
C. great bachelor pad - ANSWER: No
A licensee must post a bond with the Commonwealth of PA in the Amount of -
ANSWER: 5,000
Fora fee, an opinion of what an item might bring if sold at auction is called a -
ANSWER: appraisal
A written expressed contract - ANSWER: stands on its own must contain all the
elements of a valid contract
A yellow light at an auto auction Mean - ANSWER: auto has defects
Auctioneers must withhold and pay Social Security and Federal Withholding taxes to
the Federal Government on federal forms - ANSWER: all, depends upon the payroll
payroll
Fumigation of bedding and upholstery falls under which Department - ANSWER:
Labor and Industry
At an auction, the clerk's basic responsibility Is to - ANSWER: record what is being
sold
b. record to whom the items are sold
c. record the price
At a tobacco auction, the term "set" refers - ANSWER: buyers
Warranties in real estate deeds - ANSWER: covenants
CORRECT DETAILED ANSWERS
Intestate means: - ANSWER: legal term for dying without a will
The prime time for auto auctions is normally considered to be - ANSWER: January
thru May
Tobacco is sold by the pound and also by the - ANSWER: Sheets
The individual appointed by the testator to administer the will is Called an -
ANSWER: executrix/executor
When a buyer moves an item from a table or box to another box in an attempt to
Hide the item is known as - ANSWER: saltiing
An agreement between two parties to perform or refrain from doing something Is a -
ANSWER: . bilateral agreement
Real Property owned by a marriage would usually be Held as - ANSWER: tenants by
the entirety
Pressed glass is best described as - ANSWER: manufactured
John's gas expense was $500 and his total expenses were $4000.Gas was what % of
his total - ANSWER: 12.50%
An auctioneer must display their license - ANSWER: in their office, prominently
If there is no actual promise stated in the contract it is said To be - ANSWER: implied
Which of the following warranties are covered under the UCC - ANSWER: warranty of
merchantability and fitness
A person employed or placed in the audience by the auctioneer, seller, or anyone to
run up the bids is called - ANSWER: a shill
If real estate is to be sold at noon, what is the best time for appliances to be sold -
ANSWER: Immediately after or 12:30 PM
A grade animal has - ANSWER: mixed or unknown ancestry
The Federal Firearms Law is applicble to selling any firearms after - ANSWER: 1898
, Which of the following may be handed to the buyer at a sale or auction - ANSWER:
rifles
On the balance sheet, accounts receivables is a - ANSWER: asset
Which of the following is not a linear measure - ANSWER: acre
Under the UCC, if the goods being sold at Auction - ANSWER: and the goods are sold
in lots each lot is considered a separate sale
b. the sale is complete when the auctioneer says
"sold"
c. the sale is with reserve unless other wise stated
During the auction, selling an item out of order - ANSWER: excludes prospective
bidders, causes disruption
When advertising real estate, is it ok to Say for mature couple
b. near the Jewish Community Center
C. great bachelor pad - ANSWER: No
A licensee must post a bond with the Commonwealth of PA in the Amount of -
ANSWER: 5,000
Fora fee, an opinion of what an item might bring if sold at auction is called a -
ANSWER: appraisal
A written expressed contract - ANSWER: stands on its own must contain all the
elements of a valid contract
A yellow light at an auto auction Mean - ANSWER: auto has defects
Auctioneers must withhold and pay Social Security and Federal Withholding taxes to
the Federal Government on federal forms - ANSWER: all, depends upon the payroll
payroll
Fumigation of bedding and upholstery falls under which Department - ANSWER:
Labor and Industry
At an auction, the clerk's basic responsibility Is to - ANSWER: record what is being
sold
b. record to whom the items are sold
c. record the price
At a tobacco auction, the term "set" refers - ANSWER: buyers
Warranties in real estate deeds - ANSWER: covenants
