Question # 1 (Multiple Choice) Regulations that affect auctioneers and auction businesses are found in

A) Chapter 455, Florida Statutes
B) Chapter 468, Part VI, Florida Statutes
C) Chapter 120, Florida Statutes
D) all of the above

Question # 2 (Multiple Choice) According to Florida auction law, a copy of the written auction agreement must be kept by the auction business for at least

A) 30 days after the auction proceeds were delivered
B) 6 months after the auction
C) 1 year after the date the auction was advertised
D) 2 years after the date of the auction

Question # 3 (Multiple Choice) The minimum age requirement to obtain a Florida auctioneer license is

A) less for apprentices than for principal auctioneers
B) 21 years
C) 18 years
D) determined by the individual's qualifications

Question # 4 (Multiple Choice) An active auction license not renewed at the end of the biennium

A) becomes delinquent if the licensee fails to elect active or inactive status
B) expires on the date printed on the license
C) may be used until the DBPR notifies the holder that the license
D) must be destroyed by the licensee

Question # 5 (Multiple Choice) To verify titles of vehicles to be sold at auction the auctioneer

A) can look at the paperwork to confirm the seller's right to sell
B) should take the seller's word that he has clear title
C) must research county records of titles
D) must obtain an affidavit of verification from each seller

Question # 6 (Multiple Choice) An auctioneer conducting an auction in association with other auctioneers must determine that

A) the auction business license is current and in good standing
B) other auctioneers assisting with the auction hold valid licenses
C) any apprentice working at the auction is currently licensed
D) all of the above

Question # 7 (Multiple Choice) An investigator employed by the DBPR must

A) have a high school diploma or equivalent
B) be a graduate from a 4 year college or university or have 2 years law enforcement or investigatory experience
C) complete a minimum of 14 days of training established by the DBPR
D) all of the above

Question # 8 (Multiple Choice) Appropriate areas for mediation designated by the Board are

A) first time failure to include the name and license number of the auctioneer and auction business in advertising
B) commingling personal funds with clients' funds
C) first time failure to advertise an auction as absolute without specifying items to be sold with reserve
D) all of the above

Question # 9 (Multiple Choice) Licensing reciprocity between Florida and other states is available

A) with payment of a $25 fee to the State of Florida
B) for auctioneers in reciprocal states, provided that specific requirements are met
C) only for lawyers, bondsmen and real estate brokers
D) for any auctioneer who was actively engaged in auction business prior to October 1, 1986

Question # 10 (Multiple Choice) An apprentice auctioneer may

A) renew an apprentice license only one time
B) conduct an auction without supervision with the sponsor's written consent for that particular auction
C) keep auction proceeds in any business bank account
D) receive credit for training by a substitute sponsor with written approval by the apprentice's sponsor

Question # 11 (Multiple Choice) An apprentice may change sponsors

A) by paying an additional application fee of $50 and filing a new application with the DBPR
B) with no additional fee
C) but will not be credited for training received under the original sponsor
D) no more than once per year

Question # 12 (Multiple Choice) A real estate broker licensed in Florida has listed a house to be auctioned in 3 weeks. Which of the following applies?

A) the broker may not auction the real estate unless he has an auctioneer and auction business license
B) the broker's real estate license entitles him to auction the furnishings of the home piece by piece on the same day he sells the house, to attract a larger crowd
C) the broker may auction the furnishings if included in the total price of the house
D) an auctioneer licensed under F.S. 468 may auction real estate if sold in conjunction with personal property

Question # 13 (Multiple Choice) Failure to notify the Board office of a change of address within 30 days of the effective date is

A) a minor violation
B) a citation
C) not considered a violation
D) an appropriate area for mediation

Question # 14 (Multiple Choice) A notice of noncompliance

A) may be issued as a first response to a minor violation
B) applies when it may be assumed that a violator was unclear about how to comply with a rule
C) will not be accompanied by a fine or other penalty
D) all of the above

Question # 15 (Multiple Choice) It is the responsibility of the auction business to

A) comply with legal requirements in advertising for the auction
B) negotiate and write contracts with sellers and buyers
C) designate a principal auctioneer for each auction
D) all of the above

Question # 16 (Multiple Choice) Florida law provides that an auction escrow or trust account may contain

A) a maximum of $500 of the auction business' funds
B) up to $1,000 to cover bank charges and customers' checks returned for insufficient funds
C) up to $100 of the auction business' funds for administrative purposes
D) no balance if no seller funds are on deposit

Question # 17 (Multiple Choice) The definition of auction in Chapter 61G2 of the Florida administrative Code (formerly Chapter 21B B ) includes

A) the use of written bids
B) bids transmitted by mail or media technology
C) acceptance by an auctioneer of the best offer
D) all of the above

Question # 18 (Multiple Choice) A fine imposed by the Board of Auctioneers must be paid

A) within 3 working days
B) no later than one year from the Board's final order
C) within 30 days of issuance of the Board's final order
D) immediately but may be refunded for good behavior

Question # 19 (Multiple Choice) Florida's auction law is administered by the

A) Auction Commission
B) Department of Tobacco and Alcohol
C) Department of Business & Professional Regulation
D) State Department of Cosmetology and Sales

Question # 20 (Multiple Choice) Each city where an auctioneer maintains a branch or business office may require

A) an occupational license
B) an area auction business license
C) a district or regional auctioneer license
D) an additional Florida Auction Business license

Question # 21 (Multiple Choice) An auctioneer who holds a current license in another state may be granted a Florida auctioneers license by reciprocity if

A) he holds a valid real estate brokers license in that state
B) he has conducted at least 6 auctions in that state
C) licensing standards in that state are the same as or more stringent
D) that state subscribes to the Florida Standard of Ethics

Question # 22 (Multiple Choice) An advertisement for auction services which does not specify a date and time

A) must include the auctioneer's name and license number
B) should list the auctioneer's home phone number
C) should give the tentative location of the sale
D) does not need to include any of the above

Question # 23 (Multiple Choice) An auction license is not required for the sale of agricultural products or tools and equipment used to market such products

A) if the auction is conducted at a farm or ranch where the products are produced
B) if the auction is conducted at a location where the equipment and tools are used
C) at an auction facility selling primarily agricultural products
D) all of the above

Question # 24 (Multiple Choice) The document required by the state department of revenue in order for a person or business to be exempt from paying sales tax is called a

A) bulk rate form
B) UCC certificate
C) blanket certificate of resale
D) sales tax report

Question # 25 (Multiple Choice) Auction business records

A) will be inspected in connection with any violation of auction licensure statutes or rules
B) must be maintained for a period of 5 years from the date of each sale
C) are required to be audited each year
D) must be entered into a computer system

Question # 26 (Multiple Choice) An auctioneer apprentice's actions are the responsibility of

A) the apprentice
B) the apprentice's sponsor
C) the seller of the property
D) the state which issued the apprentice's license

Question # 27 (Multiple Choice) The Florida Board of Auctioneers has the power to

A) issue, suspend and revoke auctioneer and auction business licenses
B) grant "honorary" licenses to out of state auctioneers
C) issue dealer licenses for automobile auctions
D) waive citizenship requirements for qualified individuals

Question # 28 (Multiple Choice) The Florida auction law definition of an absolute auction is quoted below as

A) an auction which requires no minimum opening bid
B) an auction which requires no minimum opening bid which limits the sale other than to the highest bidder
C) an auction which requires no minimum opening bid or other conditions which limit the sale other than to the highest bidder
D) an auction at which ownership and title of the property sold must be conveyed to the high bidder without reservation or competing bids by the owner or agent of the owner

Question # 29 (Multiple Choice) The auction license examination will test an applicant's knowledge

A) pertaining to the Bulk Retail Act
B) about the Universal Contractors Code
C) of legal requirements for the conduct of an auction
D) of mortgage and real estate law

Question # 30 (Multiple Choice) The Florida auction license law

A) provides for a penalty for unlicensed activity
B) requires bonding of auctioneers and auction businesses
C) sets a maximum of 10% on the buyer premium
D) sets a limit on the number of auctioneers in Florida

Question # 31 (Multiple Choice) Members of the Florida Board of Auctioneers are appointed

A) for a term of one year, not to exceed two years
B) for a term of 4 years
C) for an indefinite term, if reappointed by the Governor
D) to serve until the next general elections

Question # 32 (Multiple Choice) To comply with the Florida license law, the auctioneer's license number must be shown

A) in all newspaper advertising
B) on business cards
C) on flyers or brochures advertising an auction
D) on all of the above

Question # 33 (Multiple Choice) An apprentice auctioneer's sponsor

A) must have held a valid Florida auctioneer's license for 3 consecutive years preceding the sponsorship
B) may sponsor 5 apprentices at one time
C) must supervise the apprentice for 60 hours of auction sales
D) may verbally designate a substitute sponsor

Question # 34 (Multiple Choice) To qualify for the licensure examination, an apprentice must

A) participate in at least 100 hours of auction sales during the 2 year apprenticeship
B) actively participate in at least 80 hours of auction sales during a one-year apprenticeship
C) complete 4 hours of continuing education prior to taking the licensure examination
D) none of the above

Question # 35 (Multiple Choice) The responsibilities of the auctioneer include

A) conducting the auction in a professional, ethical manner
B) final settlement with the seller
C) setting up the auction merchandise
D) maintaining a record of the auction proceedings

Question # 36 (Multiple Choice) A requirement for renewal or initial issuance of an auctioneer, apprentice or auction business license is payment of a fee in the amount of

A) $250 for a 1 year auction license
B) $150 for the auctioneer recovery fund
C) $150 for a 2 year license
D) $25 unlicensed activity fee

Question # 37 (Multiple Choice) Florida auction law defines a charitable auction as an auction

A) held for a charity registered with the state
B) where all merchandise is owned by or donated to the organization conducting the auction and all proceeds retained by the organization
C) at which the auctioneer receives no compensation
D) at which at least 50% of the net proceeds are retained by the charity

Question # 38 (Multiple Choice) An applicant for a Florida auctioneer license must

A) take an examination administered by the state unless he or she qualifies for reciprocity or endorsement
B) submit records of all auctions conducted for the two years prior to making application
C) be a US citizen and a resident of Florida for at least 2 years
D) all of the above

Question # 39 (Multiple Choice) Chapter 468, Part VI, Florida Statutes (the auction license law) regulates the

A) Department of Professional Regulation
B) Real Estate Commission
C) Florida Auctioneers Association
D) Florida Board of Auctioneers

Question # 40 (Multiple Choice) For the legal conduct of an auction in Florida, an auction business license is required if the bid caller is

A) an apprentice
B) from out of state, but licensed by reciprocity
C) a licensed auctioneer
D) any or all of the above

Question # 41 (Multiple Choice) To be licensed as an auctioneer, an applicant

A) must serve a one year apprenticeship or complete 60 hours of auction education
B) must complete at least 80 hours of auction education
C) may either complete 80 hours of state approved auction education or a one year apprenticeship to qualify to sit for the state examination
D) with approval of the Board of Auctioneers, may pay an additional fee in lieu of educational requirements

Question # 42 (Multiple Choice) An auction business must have an auction business license unless

A) it is legally exempt from licensure requirements
B) the owner has both city and county occupational licenses
C) it employs at least 2 auctioneers with active licenses
D) the annual gross is less than $50,000 for 2 consecutive years

Question # 43 (Multiple Choice) A written contract is not required for an auction of personal property

A) the total estimated value is less than $500
B) the goods are to be sold in an auction house and the value is less than $500
C) no prior negotiation has occurred between the owner of the property and the auctioneer or auction business
D) all of the above requirements are met

Question # 44 (Multiple Choice) The stated purpose of the Florida auction license law is to

A) raise money for the General Fund
B) shelter taxes
C) protect the public
D) protect the auctioneer

Question # 45 (Multiple Choice) Actions taken by the Florida Board of Auctioneers

A) require total agreement of the members
B) require a majority vote of the members
C) are decided by the Chairman after consultation with the members
D) require public approval

Question # 46 (Multiple Choice) An auctioneer licensed in Florida

A) must carry a valid auction license when actively participating (working) in an auction
B) must charge a fee to conduct any auction
C) becomes a member of the NAA upon issuance of an auction business license
D) must keep a current copy of a bond on file with the Board of Auctioneers

Question # 47 (Multiple Choice) Minor violations for which a citation may be issued include

A) first time failure of an auctioneer to display auctioneer and auction business licenses or make them available for inspection at an auction
B) first time failure of an auction business to advertise an auction as absolute without specifying items to be sold with reserve
C) first time failure of an auctioneer or auction business to file a change of address with the Board office within 30 days of the effective date of change
D) all of the above

Question # 48 (Multiple Choice) The written agreement between an auction house and a seller for the sale of goods must include

A) the property owner's name and address, terms for receipt of the property and payment of proceeds to the owner
B) a complete inventory of the items to be sold
C) the auction business federal ID , escrow account and auction license numbers
D) all of the above

Question # 49 (Multiple Choice) It is the responsibility of the principal auctioneer who conducts the auction to

A) announce the terms of bidding and sale, whether absolute or with reserve or minimum bid required
B) display (or announce availability of) licenses of the auction
business and all auctioneers actively participating in the auction
C) announce surcharges including buyer premium
D) all of the above

Question # 50 (Multiple Choice) If the auction business is properly licensed

A) anyone may conduct the auction
B) any Florida licensed auctioneer may conduct the auction
C) a licensed apprentice auctioneer may conduct the auction without his sponsor's supervision
D) the selling auctioneer must have a $25,000 bond