Page 1 of 23
AUCTIONEER EXAM QUESTIONS AND DETAILED CORRECT
ANSWERS [A+ GRADE] LATEST UPDATE
Terms in this set (143) Q & A
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
, Page 2 of 23
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
, Page 3 of 23
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
AUCTIONEER EXAM QUESTIONS AND DETAILED CORRECT
ANSWERS [A+ GRADE] LATEST UPDATE
Terms in this set (143) Q & A
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
, Page 2 of 23
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
, Page 3 of 23
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
