Texas Auctioneer License-Part 2
Exam Questions and Answers
100% Pass
Name some persons that are exempt from needing an auctioneer license. -
CORRECT ANSWER-1. U.S. court ordered sale
2. A government sponsored or conducted sale.
3. A charitable organization as long as no compensation
4. A sale of real property by a trustee under a security instrument.
5.A sale of real property by an owner with an interest or employee (unless he/she
is a licensed auctioneer by trade) and all property is under a security instrument
6. sealed bid auction w/o option to bid again
7. livestock sales
8. automobile auctions
T or F. An auctioneer owes a tax or fee to the state based on his services for each
auction. -
,CORRECT ANSWER-False. Auctioneers cannot be taxed on their services if they
are duly licensed.
T or F. A person auctioning items online needs a license. -
CORRECT ANSWER-False. Licenses not required for online auctions/sales.
A licensed auctioneer can perform an auction for what three entities? -
CORRECT ANSWER-1. a registered auction firm 2. a real estate broker with an
auction license 3. a dealer or wholesaler of motor vehicles if they hold the proper
registered number.
Name the requirements for obtaining an auction license. -
CORRECT ANSWER-1. at least 18 years of age.
2. has a high school diploma
3. is a U.S. citizen or legal alien
4. has taken 80 hours of approved coursework
5. has passed a state exam OR
6. has worked two years for a licensed auctioneer and has worked 10 auctions
What are the requirements to receive an associate auctioneer license? -
CORRECT ANSWER-1. Works for a licensed auctioneer.
2. is a U.S. citizen or legal alien
, How many times may an applicant re-test per year? -
CORRECT ANSWER-2; AND then must wait a year to re-apply.
Does Texas allow auction license reciprocity? -
CORRECT ANSWER-Yes, as long as the state or jurisdiction has similar laws and
processes; nonresidents must provide a signed consent to service.
What are the Auction Advisory Board's responsiblities? -
CORRECT ANSWER-Advise the commission on educational matters, operational
matters and common practices in auction industry.
The advisory board consists of? -
CORRECT ANSWER-7 members, 4 licensed auctioneers, 2 public at large, 1
administrative head from the state
What is the term of an advisory board member? -
CORRECT ANSWER-2 years, no more than 2 consecutive terms
The presiding officer of the commission appoints the next presiding officer from
the advisory board. What is the term for the officer? -
CORRECT ANSWER-2 years, no more than 2 consecutive terms
Are advisory board members compensated? -
CORRECT ANSWER-No
What is the "Fund"? -
Exam Questions and Answers
100% Pass
Name some persons that are exempt from needing an auctioneer license. -
CORRECT ANSWER-1. U.S. court ordered sale
2. A government sponsored or conducted sale.
3. A charitable organization as long as no compensation
4. A sale of real property by a trustee under a security instrument.
5.A sale of real property by an owner with an interest or employee (unless he/she
is a licensed auctioneer by trade) and all property is under a security instrument
6. sealed bid auction w/o option to bid again
7. livestock sales
8. automobile auctions
T or F. An auctioneer owes a tax or fee to the state based on his services for each
auction. -
,CORRECT ANSWER-False. Auctioneers cannot be taxed on their services if they
are duly licensed.
T or F. A person auctioning items online needs a license. -
CORRECT ANSWER-False. Licenses not required for online auctions/sales.
A licensed auctioneer can perform an auction for what three entities? -
CORRECT ANSWER-1. a registered auction firm 2. a real estate broker with an
auction license 3. a dealer or wholesaler of motor vehicles if they hold the proper
registered number.
Name the requirements for obtaining an auction license. -
CORRECT ANSWER-1. at least 18 years of age.
2. has a high school diploma
3. is a U.S. citizen or legal alien
4. has taken 80 hours of approved coursework
5. has passed a state exam OR
6. has worked two years for a licensed auctioneer and has worked 10 auctions
What are the requirements to receive an associate auctioneer license? -
CORRECT ANSWER-1. Works for a licensed auctioneer.
2. is a U.S. citizen or legal alien
, How many times may an applicant re-test per year? -
CORRECT ANSWER-2; AND then must wait a year to re-apply.
Does Texas allow auction license reciprocity? -
CORRECT ANSWER-Yes, as long as the state or jurisdiction has similar laws and
processes; nonresidents must provide a signed consent to service.
What are the Auction Advisory Board's responsiblities? -
CORRECT ANSWER-Advise the commission on educational matters, operational
matters and common practices in auction industry.
The advisory board consists of? -
CORRECT ANSWER-7 members, 4 licensed auctioneers, 2 public at large, 1
administrative head from the state
What is the term of an advisory board member? -
CORRECT ANSWER-2 years, no more than 2 consecutive terms
The presiding officer of the commission appoints the next presiding officer from
the advisory board. What is the term for the officer? -
CORRECT ANSWER-2 years, no more than 2 consecutive terms
Are advisory board members compensated? -
CORRECT ANSWER-No
What is the "Fund"? -
