TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

What fiduciary duty does a Tennessee auctioneer owe to the seller (principal)?

A duty to obtain the lowest possible price A duty of loyalty, good faith, and to act in the seller's best interest No fiduciary duty exists between auctioneer and seller A duty to act in the buyer's best interest

Correct Answer:

A duty of loyalty, good faith, and to act in the seller's best interest

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