Indiana Auctioneer Licensure Exam Questions & Answers 100%
REVISED and Correctly Answered.
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
B
What is the "worst" season to sell farm equipment?
Summer
Cars sold "AS IS" at automobile auction have what color light turned on?
Red
What should your first step be when opening the sale?
Call the bidders together
When representing an absentee bidder, it is acceptable to start the bid where?
At half of the maximum absentee bid
Opening statements should be:
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:
Let the auctioneer watch that bidder and look for other bidders
Gifts of real estate by a will are called:
a devise
When estate sales lack funds to pay all debts, who gets paid first?
Probate courts and administrators
Which of the following is required to obtain an Auction Company License to conduct auctions?
A. Auctioneer
B. Auction House
C. Real Estate Company
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, D. Livestock Auction Pavilion
C
How are commissioners paid?
Per Diem
An auctioneer who has been subjected to disciplinary sanctions may be required by the commission to
pay what?
Cost of witness attending and mileage
A mixed breed of cattle is called what?
Grade animal
Brucellosis (bangs) disease causes female animals to:
Abort
When transporting horses interstate, what disease must they be treated for?
Coggins
What species does Cribbing affect?
Horses
Herd reduction is also known as?
Culling
Underground storage tanks not regulated by the EPA are farm and residential tanks _______ gallons or
less.
1100
When selling real estate at auction, the auctioneer should get how much deposit the day of sale?
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
C
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REVISED and Correctly Answered.
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
B
What is the "worst" season to sell farm equipment?
Summer
Cars sold "AS IS" at automobile auction have what color light turned on?
Red
What should your first step be when opening the sale?
Call the bidders together
When representing an absentee bidder, it is acceptable to start the bid where?
At half of the maximum absentee bid
Opening statements should be:
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:
Let the auctioneer watch that bidder and look for other bidders
Gifts of real estate by a will are called:
a devise
When estate sales lack funds to pay all debts, who gets paid first?
Probate courts and administrators
Which of the following is required to obtain an Auction Company License to conduct auctions?
A. Auctioneer
B. Auction House
C. Real Estate Company
1|Page
, D. Livestock Auction Pavilion
C
How are commissioners paid?
Per Diem
An auctioneer who has been subjected to disciplinary sanctions may be required by the commission to
pay what?
Cost of witness attending and mileage
A mixed breed of cattle is called what?
Grade animal
Brucellosis (bangs) disease causes female animals to:
Abort
When transporting horses interstate, what disease must they be treated for?
Coggins
What species does Cribbing affect?
Horses
Herd reduction is also known as?
Culling
Underground storage tanks not regulated by the EPA are farm and residential tanks _______ gallons or
less.
1100
When selling real estate at auction, the auctioneer should get how much deposit the day of sale?
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
C
2|Page
