IL Auctioneer Practice Questions - Illinois Licensed Auctioneer Exam

An auctioneer receives a $5,000 deposit from a winning bidder at an estate sale. When must this deposit be deposited into the trust account?

Within 30 days By the next business day after accepting the monies Within 10 business days It can remain in the auctioneer's possession indefinitely

By the next business day after accepting the monies

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