MA Auctioneer Practice Questions - Massachusetts Licensed Auctioneer Exam

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Under Massachusetts law, what happens if an auctioneer discovers an error in the settlement statement after disbursement?

Nothing; the settlement is final once disbursed The auctioneer must promptly notify the affected parties and correct the error The auctioneer can only correct errors within 24 hours The seller must file a complaint with the licensing authority

Correct Answer:

The auctioneer must promptly notify the affected parties and correct the error

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