TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

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A Tennessee auctioneer is asked to appraise items before an estate auction. The auctioneer provides a high appraisal to secure the listing. This practice is:

A standard business practice in the auction industry A violation of professional ethics because inflated appraisals mislead sellers about expected returns Acceptable as long as the items sell for more than the appraised value Required by Tennessee law to attract sellers

Correct Answer:

A violation of professional ethics because inflated appraisals mislead sellers about expected returns

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