TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

Access More Questions

A Tennessee auctioneer charges a 10% buyer's premium but fails to disclose it in the advertising or before the auction begins. What is the likely consequence?

The premium is still enforceable since it is an industry standard The premium is likely unenforceable, and the auctioneer may face disciplinary action for failing to disclose The buyer must pay the premium regardless of disclosure The auctioneer can collect the premium but must refund it if the buyer complains

Correct Answer:

The premium is likely unenforceable, and the auctioneer may face disciplinary action for failing to disclose

Access more questions from this quiz

Continue to TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam for more practice questions and the full quiz experience.

Access More Questions