LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

What is the duty of confidentiality in the auctioneer-seller relationship?

The duty to keep the auction date secret until the day of the sale The duty not to disclose the seller's confidential information, including reserve prices, to bidders or third parties The duty to encrypt all auction records The duty to conduct auctions in a private location

Correct Answer:

The duty not to disclose the seller's confidential information, including reserve prices, to bidders or third parties

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