OHIO AUCTIONEER CERTIFICATION EXAM QUESTIONS AND ANSWERS (LATEST)

OHIO AUCTIONEER
CERTIFICATION EXAM
QUESTIONS AND ANSWERS
(LATEST)

1. An auctioneer in Ohio must be licensed by:


A. Local government
B. Federal agency
C. Ohio Department of Agriculture
D. IRS


Correct Answer: C
Rationale: The Ohio Department of Agriculture regulates auctioneer
licensing in Ohio.


2. The primary purpose of auctioneer licensing is to:


A. Increase profit
B. Protect the public
C. Promote advertising
D. Reduce competition

,Correct Answer: B
Rationale: Licensing ensures professionalism and protects consumers.


3. A person selling goods at auction for others is acting as a:


A. Buyer
B. Principal
C. Agent
D. Contractor


Correct Answer: C
Rationale: Auctioneers act as agents for sellers.


4. The seller in an auction is known as the:


A. Bidder
B. Principal
C. Agent
D. Clerk


Correct Answer: B
Rationale: The auctioneer represents the principal (seller).


5. The contract between auctioneer and seller is called a:

, A. Bill of sale
B. Listing agreement
C. Lease
D. Deed


Correct Answer: B
Rationale: Establishes terms of representation.


6. Reserve auction means:


A. Item must be sold
B. Seller sets minimum price
C. No bids allowed
D. Free sale


Correct Answer: B
Rationale: Seller can reject bids below reserve price.


7. Absolute auction means:


A. Seller may withdraw item
B. Item sells to highest bidder regardless of price
C. Minimum price required