Auctioneer

Auction theory Exam with verified questions and answers Private value - CORRECT ANSWER A person's individual willingness to pay e.g. a painting you particularly like Common value - CORRECT ANSWER Each bidder has some estimate of the value of the item, but no one knows the true valuation e.g. bid tendering, finding oil Common value formula - CORRECT ANSWER estimate(i)=V + error(i) English Auction (Private Value) - CORRECT ANSWER Bid up to valuation if necessary Person with highest ...

Texas Auction License 1802 Exam with updated questions and answers 1802.001 - CORRECT ANSWER Definitions of general provision 1802.002 - CORRECT ANSWER Applicability of general provision 1802.003 - CORRECT ANSWER preemption under general provision 1802.004 - CORRECT ANSWER Advertising under general provisions 1802.051 - CORRECT ANSWER License required 1802.052 - CORRECT ANSWER Eligibility for Auctioneer's License 1802.053 - CORRECT ANSWER Eligibility for Associate Auctioneer's License...

TEXAS RE EXAM PRACTICE QUESTIONS WITH 100% CORRECT ANSWERS • The purpose of the texas real estate license act is - CORRECT ANSWER o To protect the public against unscrupulous brokers and salesmen • What is required to obtain a license in texas - CORRECT ANSWER o Resident of texas o Good moral character o Competency by passing the exam The aspect of the real estate business that is concerned with bringing together the parties and completing transaction is - CORRECT ANSWER Broke...

Auctions Exam with updated questions and answers auction - CORRECT ANSWER selling very unique product use auction because of uncertainty in seller and buyer- do not know what price range will be price revealing mechanism what is the max anyone willing to pay valuation - CORRECT ANSWER maximum amount the buyer is willing to pay for the object buyers surplus - CORRECT ANSWER difference between valuation and price paid private value - CORRECT ANSWER buyers have different valuations there ...

AUCTION HOUSES EXAM WITH CORRECT QUESTIONS AND ANSWERS AUCTION HOUSES EXAM WITH CORRECT QUESTIONS AND ANSWERS 1. In what market do auction houses mainly operate the primary or the secondary? - CORRECT ANSWER - secondary market 3 D's - death - debt - divorce 2. What is a lot? - CORRECT ANSWER - an object or group of objects for sale as one unit for auction - Listed and numbered in lots 3. What is an estimated price? - CORRECT ANSWER - For each lot there is an estimated price, t...

Auctions Exam with 100% updated questions and answers Difference between bargaining and auctions - CORRECT ANSWER -Bargaining: one buyer; one seller; one deal -Auctions: one seller; many (potential buyers); one deal OR one buyer; many (potential buyers); one deal Types of auctions - CORRECT ANSWER English Dutch First price, sealed bid auctions Second price, sealed bid auctions English auctions - CORRECT ANSWER -Ascending -Open outcry by bidders until only one bidder is left -Ej: ...

Indiana Auctioneer Licensure Exam with latest questions and answers A composition of copper and silver is identified as which? - CORRECT ANSWER Pewter When weighing silver, an ounce is what part of a pound? - CORRECT ANSWER 1/12 18 karat gold jewelry is what percent gold? - CORRECT ANSWER .75 An alloy of tin, lead and brass or copper is characteristic of? - CORRECT ANSWER Pewter The design of a rug from which a weaver works is called? - CORRECT ANSWER Weft treads Thread running from the ...

Ky Board of Auctioneer Test with 100% verified questions and answers Absolute Auction - CORRECT ANSWER After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - CORRECT ANSWER when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right ...

Arkansas Auctioneer Exam with updated questions and answers 2023 True/False: The Arkansas Auctioneers Licensing Board is appointed by vote of the Arkansas General Assembly - CORRECT ANSWER False - The governor shall appoint the members of the Board All auctioneer licenses expire: - CORRECT ANSWER June 30th True/False: The Arkansas Auctioneers Licensing Board has the final decision in the suspension or revocation of an auctioneer's license. - CORRECT ANSWER False - The Auctioneers L...

PA Auctioneer Exam Multiple Choice with latest and updated questions and answers 2023 which of the following items may be handed to the buyer at auction? handguns rifles automatic rifles none of the above - CORRECT ANSWER none of the above in business the term finance refers to: I. the raising of funds II. the prudent use of funds I only II only I and II neither I or II - CORRECT ANSWER I and II a distinguishable characteristic in identifying a period of furniture would be: woo...