Tennessee Auctioneer Exam Questions and
Correct Answers Plus Rationales 2026 Q&A
| Instant Download Pdf
Auction - correct answersmethod of sale of real or personal property,
goods, or chattels, at a predetermined date and time, by means of
verbal exchange, regular mail, telecommunications, the internet, an
electronic transmission, or a physical gesture between an auctioneer
and members of the audience
Auctioneer - correct answersany person who engages or who by
advertising or otherwise holds the person out as being able to engage in
the calling for recognition of and the acceptance of offers the purchase
of real or personal property goods or chattels at auction either directly
or through the use of other licensed auctioneers or apprentice
auctioneers .
apprentice auctioneer - correct answersany individual who is sponsored
by an auctioneer to deal or engage in any activities mentioned in
division A or this section
special auctioneer - correct answersany person who currently is subject
to section 4707.071 of the revised code
, absolute auction - correct answersand auction of real or personal
property to which all of the following apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller
or an agent of the seller.
4. The seller of the property cannot withdraw the property from the
auction after the auction is opened and there is public solicitation or
calling for bids.
Reserve auction - correct answersand auction in which the seller or an
agent of the seller reserves the right to establish a stated minimum bid
the right to reject or accept any or all bids or the right to withdraw the
real or personal property at any time prior to the completion of the
auction by the auctioneer.
Auction mediation company - correct answersa company that provides
a forum through the internet for a person to sell the person real or
property via the submission of silent bids using a computer or other
electronic device .
Public authority - correct answersany board or commission of the state
or any officer or such a board or commission or any political subdivision
of the state.
Correct Answers Plus Rationales 2026 Q&A
| Instant Download Pdf
Auction - correct answersmethod of sale of real or personal property,
goods, or chattels, at a predetermined date and time, by means of
verbal exchange, regular mail, telecommunications, the internet, an
electronic transmission, or a physical gesture between an auctioneer
and members of the audience
Auctioneer - correct answersany person who engages or who by
advertising or otherwise holds the person out as being able to engage in
the calling for recognition of and the acceptance of offers the purchase
of real or personal property goods or chattels at auction either directly
or through the use of other licensed auctioneers or apprentice
auctioneers .
apprentice auctioneer - correct answersany individual who is sponsored
by an auctioneer to deal or engage in any activities mentioned in
division A or this section
special auctioneer - correct answersany person who currently is subject
to section 4707.071 of the revised code
, absolute auction - correct answersand auction of real or personal
property to which all of the following apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller
or an agent of the seller.
4. The seller of the property cannot withdraw the property from the
auction after the auction is opened and there is public solicitation or
calling for bids.
Reserve auction - correct answersand auction in which the seller or an
agent of the seller reserves the right to establish a stated minimum bid
the right to reject or accept any or all bids or the right to withdraw the
real or personal property at any time prior to the completion of the
auction by the auctioneer.
Auction mediation company - correct answersa company that provides
a forum through the internet for a person to sell the person real or
property via the submission of silent bids using a computer or other
electronic device .
Public authority - correct answersany board or commission of the state
or any officer or such a board or commission or any political subdivision
of the state.
