TEXAS AUCTIONEER LICENSEPART 2 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

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TEXAS AUCTIONEER LICENSEPART 2 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Name some persons that are exempt from needing an auctioneer license. - 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. - 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. - Answer -False. Licenses not required for online auctions/sales. A licensed auctioneer can perform an auction for what three entities? - 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. - Answer -1. at least 18 years of age. 2. has a high school diploma Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com 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? - 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? - Answer -2; AND then must wait a year to re-apply. Does Texas allow auction license reciprocity? - 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? - Answer -Advise the commission on educational matters, operational matters and common practices in auction industry. The advisory board consists of? - 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? - 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? - Answer -2 years, no more than 2 consecutive terms Are advisory board members compensated? - Answer -No What is the "Fund"? - Answer -The recovery fund set up to pay claims made against licensed auctioneers. Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com