AL Auctioneer Practice Questions - Alabama Licensed Auctioneer Exam

Which of the following actions by an auctioneer would violate the duty of disclosure in Alabama?

Failing to inform bidders that the auctioneer has a financial interest in one of the items being sold Declining to reveal the seller's reserve price Refusing to disclose the identities of other bidders Not providing a written appraisal for every auction lot

Correct Answer:

Failing to inform bidders that the auctioneer has a financial interest in one of the items being sold

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