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.
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
When estate sales lack funds to pay all debts, who gets paid first? - ANSWER-
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
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.
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
When estate sales lack funds to pay all debts, who gets paid first? - ANSWER-
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
