INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS|ALREADY GRADED A

INDIANA AUCTIONEER LICENSURE EXAM LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS|ALREADY GRADED A

INDIANA AUCTIONEER LICENSURE EXAM LATEST
2023-2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS|ALREADY GRADED A
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? – ANSWERSummer
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
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