Auctioneer

Auctions Exam with latest questions and answers Objectives of an auction - CORRECT ANSWER Federal gov auctions off airwaves -government agencies auction of contracts - Developers sometimes auction off condos (candy Factory) First price sealed bid auction (common) - CORRECT ANSWER - Here bidders submit sealed (secret) bids - The high bid wins - The winner pay his or her bid ascending bid (english) auction (common) - CORRECT ANSWER - Here people bid Sequentially - the bids are publ...

Auctions Exam with 100% verified questions and answers With auctions you want to win the auction... - CORRECT ANSWER at the lowest possible price; With auctions you want to maximize... - CORRECT ANSWER discrepancy/difference between maximum willingness to pay and price actually paid. Auctions are used to. - CORRECT ANSWER price and allocate an increasingly wide variety of good services. Example of auction in NZ (digital TV switchover) - CORRECT ANSWER Digital TV switchover in 2014 fr...

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 ...