TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

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A Tennessee auctioneer discovers a conflict of interest because they own one of the items being sold at the auction they are conducting. What must the auctioneer do?

Proceed without disclosure since they are the licensed auctioneer Fully disclose their ownership interest to all bidders before the item is offered Withdraw from conducting the entire auction Have a family member bid on the item instead

Correct Answer:

Fully disclose their ownership interest to all bidders before the item is offered

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