OH Auctioneer Practice Questions - Ohio Licensed Auctioneer Exam

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In Ohio, if an auctioneer fails to deposit auction proceeds into the trust account within the required timeframe, this constitutes:

A minor administrative infraction A potential violation of ORC 4707 that may result in disciplinary action An acceptable practice if the auctioneer intends to deposit later Only a problem if the seller complains

Correct Answer:

A potential violation of ORC 4707 that may result in disciplinary action

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