GA Auction Study Guide EXAM Questions & Answers | 100% Verified
solutions |Questions with Correct Answers 2025 latest update!!
Terms in this set (201)
An auction listing contract Must be written to be enforceable
In the contracting to operate a consignment auction this determine
Seller
the rules of the sale between the auctioneer and the _____
If a public auction your seller Avoid the seller
directs you to disregard ethical
behavior, you should:
A real estate deed is a document to Convey land ownership
determine;
An auctioneers license All advertising of all auctions
number must be displayed
on:
An auctioneers first agency Sellers
obligation is to
How should an auctioneer dress? Comparable with your bidders
The best chant for an auctioneer is Easily understood
to be:
liquidation auction Selling remaining inventory at auction
The Auction Commission can False
regulate the amount of
commission you can charge to
sell real estate.
T or F
Registration of bidders at an Creates a mailing list
auction
, If a licensed Auctioneer allows an True
unlicensed person to call their
auction, both parties have
violated the law.
T or F
A chapter 11 bankruptcy is a debtor True
in possession who has filed for
reorganizat
ion. T or F
At an absolute auction you can Withdraw and item if no bid is received within a reasonable time.
legally
At a court ordered auction True
conducted by an attorney, the
attorney must hold an
Auctioneers license.
T or F
Principal In an agency situation, when a seller authorizes you to sell their property.
1. Must include name and address of seller, price property sold
A closing statement
for, date and location where sale was conducted, and date the
seller was paid.
How long must a closing 3 years
statement be kept on record?
Real Property Land with permanent building thereon
Example of surcharge at an auction 10% buyer's premium
An auctioneer may bid on Prior notice has been given
behalf of the seller during the
auction when:
Federal laws regulating sell of Always apply
firearms at an auction apply
when?
Personal property is anything that can be
moved. True or False?
A title to real property requires: A copy of the deed to be transferred.
A lein on personal property is not False
enforceable and prohibits property
being transferred before the lein
is settled.
T or F?
solutions |Questions with Correct Answers 2025 latest update!!
Terms in this set (201)
An auction listing contract Must be written to be enforceable
In the contracting to operate a consignment auction this determine
Seller
the rules of the sale between the auctioneer and the _____
If a public auction your seller Avoid the seller
directs you to disregard ethical
behavior, you should:
A real estate deed is a document to Convey land ownership
determine;
An auctioneers license All advertising of all auctions
number must be displayed
on:
An auctioneers first agency Sellers
obligation is to
How should an auctioneer dress? Comparable with your bidders
The best chant for an auctioneer is Easily understood
to be:
liquidation auction Selling remaining inventory at auction
The Auction Commission can False
regulate the amount of
commission you can charge to
sell real estate.
T or F
Registration of bidders at an Creates a mailing list
auction
, If a licensed Auctioneer allows an True
unlicensed person to call their
auction, both parties have
violated the law.
T or F
A chapter 11 bankruptcy is a debtor True
in possession who has filed for
reorganizat
ion. T or F
At an absolute auction you can Withdraw and item if no bid is received within a reasonable time.
legally
At a court ordered auction True
conducted by an attorney, the
attorney must hold an
Auctioneers license.
T or F
Principal In an agency situation, when a seller authorizes you to sell their property.
1. Must include name and address of seller, price property sold
A closing statement
for, date and location where sale was conducted, and date the
seller was paid.
How long must a closing 3 years
statement be kept on record?
Real Property Land with permanent building thereon
Example of surcharge at an auction 10% buyer's premium
An auctioneer may bid on Prior notice has been given
behalf of the seller during the
auction when:
Federal laws regulating sell of Always apply
firearms at an auction apply
when?
Personal property is anything that can be
moved. True or False?
A title to real property requires: A copy of the deed to be transferred.
A lein on personal property is not False
enforceable and prohibits property
being transferred before the lein
is settled.
T or F?
