LOUISIANA AUCTIONEER PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED ANSWERS) PLUS
RATIONALES 2026 Q&A | INSTANT DOWNLOAD PDF
1. What is the minimum age requirement to become a licensed
auctioneer in Louisiana?
A) 18
B) 21
C) 25
D) 30
A) 18
Candidates must be at least 18 years old to qualify for licensure.
2. How long is a Louisiana auctioneer license valid before renewal?
A) 1 year
B) 2 years
C) 3 years
D) 4 years
B) 2 years
Louisiana auctioneer licenses must be renewed every 2 years to
remain active.
3. Which of the following is required to operate as an auctioneer in
Louisiana?
A) A surety bond
B) A college degree
C) Federal certification
D) Military service
A) A surety bond
, Auctioneers must obtain a surety bond as a financial guarantee
for clients.
4. What is the maximum commission percentage an auctioneer may
charge in Louisiana?
A) 5%
B) 10%
C) There is no statutory maximum
D) 15%
C) There is no statutory maximum
Louisiana law does not set a maximum commission; it is
determined by contract.
5. Which agency oversees auctioneer licensing in Louisiana?
A) Louisiana Department of Revenue
B) Louisiana Auctioneer Licensing Board
C) Secretary of State
D) Louisiana Department of Labor
B) Louisiana Auctioneer Licensing Board
The Board regulates licensing, exams, and compliance for
auctioneers.
6. What is the primary legal responsibility of an auctioneer to a
seller?
A) To secure the highest possible bid
B) To verify bidder identities
C) To maintain the auction location
D) To collect state taxes
A) To secure the highest possible bid
An auctioneer acts as a fiduciary to the seller to achieve the best
sale outcome.
, 7. Which of the following must an auctioneer provide in writing to
the Louisiana Board?
A) Annual business plan
B) Proof of completed sales
C) License renewal application
D) Federal tax returns
C) License renewal application
Submitting the renewal application ensures continued licensure.
8. What type of license must an auctioneer hold to conduct real
estate auctions in Louisiana?
A) General auctioneer license
B) Real estate license
C) Temporary auction license
D) No license required
B) Real estate license
Auctioneers conducting real estate sales must also hold a valid
real estate license.
9. Which of the following is considered an unlawful practice for an
auctioneer?
A) Disclosing reserve prices to bidders
B) Accepting payment in cash
C) Using a gavel to signal sales
D) Advertising auctions publicly
A) Disclosing reserve prices to bidders
Revealing the reserve price can be considered deceptive and unfair
to bidders.
10. What is a “reserve” in an auction context?
A) A bidder who promises a minimum price
B) The minimum price a seller will accept
AND CORRECT ANSWERS (VERIFIED ANSWERS) PLUS
RATIONALES 2026 Q&A | INSTANT DOWNLOAD PDF
1. What is the minimum age requirement to become a licensed
auctioneer in Louisiana?
A) 18
B) 21
C) 25
D) 30
A) 18
Candidates must be at least 18 years old to qualify for licensure.
2. How long is a Louisiana auctioneer license valid before renewal?
A) 1 year
B) 2 years
C) 3 years
D) 4 years
B) 2 years
Louisiana auctioneer licenses must be renewed every 2 years to
remain active.
3. Which of the following is required to operate as an auctioneer in
Louisiana?
A) A surety bond
B) A college degree
C) Federal certification
D) Military service
A) A surety bond
, Auctioneers must obtain a surety bond as a financial guarantee
for clients.
4. What is the maximum commission percentage an auctioneer may
charge in Louisiana?
A) 5%
B) 10%
C) There is no statutory maximum
D) 15%
C) There is no statutory maximum
Louisiana law does not set a maximum commission; it is
determined by contract.
5. Which agency oversees auctioneer licensing in Louisiana?
A) Louisiana Department of Revenue
B) Louisiana Auctioneer Licensing Board
C) Secretary of State
D) Louisiana Department of Labor
B) Louisiana Auctioneer Licensing Board
The Board regulates licensing, exams, and compliance for
auctioneers.
6. What is the primary legal responsibility of an auctioneer to a
seller?
A) To secure the highest possible bid
B) To verify bidder identities
C) To maintain the auction location
D) To collect state taxes
A) To secure the highest possible bid
An auctioneer acts as a fiduciary to the seller to achieve the best
sale outcome.
, 7. Which of the following must an auctioneer provide in writing to
the Louisiana Board?
A) Annual business plan
B) Proof of completed sales
C) License renewal application
D) Federal tax returns
C) License renewal application
Submitting the renewal application ensures continued licensure.
8. What type of license must an auctioneer hold to conduct real
estate auctions in Louisiana?
A) General auctioneer license
B) Real estate license
C) Temporary auction license
D) No license required
B) Real estate license
Auctioneers conducting real estate sales must also hold a valid
real estate license.
9. Which of the following is considered an unlawful practice for an
auctioneer?
A) Disclosing reserve prices to bidders
B) Accepting payment in cash
C) Using a gavel to signal sales
D) Advertising auctions publicly
A) Disclosing reserve prices to bidders
Revealing the reserve price can be considered deceptive and unfair
to bidders.
10. What is a “reserve” in an auction context?
A) A bidder who promises a minimum price
B) The minimum price a seller will accept
