INDIANA AUCTIONEER LICENSURE EXAM LATEST 2023-2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS
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
A buyer and seller agree on the purchase price of a property with no pressure on either party. This price
is referred to as: - (answer) Market value
Is the signature of the current owner required in the preparation of a personal property appraisal? -
(answer) No
Which of the following would be considered a seasonal item when appraising personal property?
Choose the letter.
A. Household items
B. Farm Machinery
C. Horses - (answer) B
You are appraising a piece of personal property. Which of the following is not factored into the
appraisal? Choose the letter.
, INDIANA AUCTIONEER LICENSURE EXAM LATEST 2023-2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS
A. Condition of the item
B. Age of the item
C. Availability of like items
D. Amount of repair work needed - (answer) D
In preparing a farm equipment option, it is necessary to do all of the following except:
A. Line up machinery in rows
B. Place like machinery together
C. Put all accessories with their accompanying piece of equipment - (answer) B
What is the "worst" season to sell farm equipment? - (answer) Summer
Cars sold "AS IS" at automobile auction have what color light turned on? - (answer) Red
What should your first step be when opening the sale? - (answer) Call the bidders together
When representing an absentee bidder, it is acceptable to start the bid where? - (answer) At half of
the maximum absentee bid
Opening statements should be: - (answer) Given with assertiveness to establish who is in control
Once a ringman has made the auctioneer aware of the location of a bidder, he should: - (answer) Let
the auctioneer watch that bidder and look for other bidders
Gifts of real estate by a will are called: - (answer) a devise
DETAILED ANSWERS
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
A buyer and seller agree on the purchase price of a property with no pressure on either party. This price
is referred to as: - (answer) Market value
Is the signature of the current owner required in the preparation of a personal property appraisal? -
(answer) No
Which of the following would be considered a seasonal item when appraising personal property?
Choose the letter.
A. Household items
B. Farm Machinery
C. Horses - (answer) B
You are appraising a piece of personal property. Which of the following is not factored into the
appraisal? Choose the letter.
, INDIANA AUCTIONEER LICENSURE EXAM LATEST 2023-2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS
A. Condition of the item
B. Age of the item
C. Availability of like items
D. Amount of repair work needed - (answer) D
In preparing a farm equipment option, it is necessary to do all of the following except:
A. Line up machinery in rows
B. Place like machinery together
C. Put all accessories with their accompanying piece of equipment - (answer) B
What is the "worst" season to sell farm equipment? - (answer) Summer
Cars sold "AS IS" at automobile auction have what color light turned on? - (answer) Red
What should your first step be when opening the sale? - (answer) Call the bidders together
When representing an absentee bidder, it is acceptable to start the bid where? - (answer) At half of
the maximum absentee bid
Opening statements should be: - (answer) Given with assertiveness to establish who is in control
Once a ringman has made the auctioneer aware of the location of a bidder, he should: - (answer) Let
the auctioneer watch that bidder and look for other bidders
Gifts of real estate by a will are called: - (answer) a devise
