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Exam Review

Key Facts: FL Auctioneer Exam

50

Exam Questions

Pearson VUE

75

Minimum Scaled Score

Rule 61G2-2.002(3), F.A.C.

1 hr

Time Limit

DBPR Candidate Information Booklet

20%

Advertising Weight

DBPR Candidate Information Booklet

Ch. 468

Governing Statute

FL Statutes Part VI

Florida's auctioneer exam has 50 multiple-choice questions across seven subject areas with a 1-hour time limit and a minimum scaled score of 75. Advertising is the largest area at 20%, followed by legal and financial aspects at 18% each, conducting the sale at 15%, appraisal at 14%, merchandising at 8%, and soliciting at 7%. Florida requires auctioneers to be licensed under Chapter 468, Part VI, F.S., administered by the Department of Business and Professional Regulation (DBPR).

Sample FL Auctioneer Practice Questions

Try these sample questions to review concepts for the FL Auctioneer exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 203+ question experience with AI tutoring.

1Under Florida law, which statute governs the licensing and regulation of auctioneers?
A.Chapter 475, Part I
B.Chapter 468, Part VI
C.Chapter 489, Part III
D.Chapter 455, Part II
Explanation: Florida Statute Chapter 468, Part VI (ss. 468.381-468.399) governs auctioneer licensing and regulation. Chapter 475 covers real estate, Chapter 489 covers construction contracting, and Chapter 455 provides general professional-regulation provisions that also apply to auctioneers.
2Which Florida state agency is responsible for regulating auctioneers?
A.Department of State
B.Department of Business and Professional Regulation (DBPR)
C.Department of Agriculture and Consumer Services
D.Department of Financial Services
Explanation: The Florida Department of Business and Professional Regulation (DBPR), through the Florida Board of Auctioneers, licenses and regulates auctioneers under Chapter 468, Part VI, F.S., and Rule Chapter 61G2, F.A.C.
3What is the minimum age requirement to obtain a Florida auctioneer license?
A.18 years old
B.25 years old
C.21 years old
D.16 years old
Explanation: Florida requires auctioneer license applicants to be at least 18 years of age. This is the standard minimum age for most professional licenses in Florida. There is no upper age limit for licensure.
4How many questions are on the Florida auctioneer licensing exam?
A.50 questions
B.75 questions
C.25 questions
D.100 questions
Explanation: The Florida auctioneer licensing exam consists of 50 multiple-choice questions administered by Pearson VUE. Candidates have 1 hour to complete the exam and must achieve a scaled score of 75% to pass.
5What passing score is required on the Florida auctioneer licensing exam?
A.70% scaled score
B.75% scaled score
C.80% scaled score
D.60% scaled score
Explanation: The Florida auctioneer exam requires a 75% scaled passing score. The scoring is scaled, meaning the raw number of correct answers needed may vary slightly depending on the specific form of the exam administered.
6A Florida auctioneer must include which of the following in ALL advertisements?
A.The name and Florida license number of the auctioneer and the auction business
B.The name of every consignor
C.The appraised value of all items
D.Their Social Security number
Explanation: Under F.S. 468.388(11)(a), all advertising by an auctioneer or auction business must include the name and Florida license number of such auctioneer and auction business. Clothing, directional signs, and promotional novelty items are excluded from the advertising definition. Omitting the required name or license number is treated as false, deceptive, or misleading advertising.
7Which type of auction allows the seller to withdraw the property at any time before the hammer falls?
A.Dutch auction
B.Reserve auction
C.Absolute auction
D.Sealed-bid auction
Explanation: In a reserve auction, the seller retains the right to withdraw the property at any time before the auctioneer announces the sale is complete (the hammer falls). In an absolute auction, the property must be sold to the highest bidder regardless of price, with no reserve or minimum bid.
8In an absolute auction, what happens to the property?
A.It is sold to the highest bidder regardless of price
B.It is sold only with DBPR approval
C.It is sold only if the reserve price is met
D.It is returned to the seller if bids are too low
Explanation: In an absolute auction (also called an auction without reserve), the property is sold to the highest bidder regardless of the final price. Once announced as absolute, the auctioneer cannot withdraw the item. This type of auction typically generates the most bidder interest because participants know the item will sell.
9What is a 'buyer's premium' in an auction?
A.A discount given to the winning bidder
B.A fee paid by the seller to the auctioneer
C.An additional percentage charged to the buyer on top of the hammer price
D.Insurance required for high-value items
Explanation: A buyer's premium is an additional fee, typically expressed as a percentage, charged to the winning bidder on top of the hammer (final bid) price. For example, a 10% buyer's premium on a $1,000 hammer price means the buyer pays $1,100. The buyer's premium must be disclosed before the auction begins.
10Which of the following best describes the fiduciary duty an auctioneer owes to the seller?
A.A duty to obtain the highest possible price at all costs
B.A duty only to follow the seller's written instructions exactly
C.No duty exists since the auctioneer is an independent contractor
D.A duty to act in the seller's best interest, with loyalty, care, and full disclosure
Explanation: An auctioneer acting as the seller's agent owes fiduciary duties including loyalty, care, obedience, disclosure, and accounting. This means the auctioneer must act in the seller's best interest, disclose material information, handle funds properly, and avoid conflicts of interest.

About the FL Auctioneer Exam

The Florida Auctioneers' Licensure Examination covers seven DBPR subject areas: advertising, legal, financial aspects, conducting the sale, appraisal, merchandising, and soliciting. It tests general knowledge of Florida law on bulk sales, auctions, and brokerage, plus Chapter 468 Part VI, Chapter 455, F.S., and Rule 61G2, F.A.C.

Exam sponsor: Pearson VUE for the Florida DBPR Bureau of Education and Testing. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Questions

50 questions

Time Limit

1 hour

Passing Score

Scaled score of 75

Exam / Certification Fees

$233.50 to DBPR plus $16.50 to Pearson VUE

Exam sponsor website

Reported exam pass rate: Not published. DBPR does not publish auctioneer examination pass rates Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

20%

Advertising

Advertising rules, prohibited claims, required license-number disclosures, marketing compliance under F.S. 468.388(11)

18%

Legal

Florida Statute Chapter 468 Part VI, Chapter 455, Rule 61G2 F.A.C., licensure requirements, DBPR authority, disciplinary actions, Recovery Fund

18%

Financial Aspects

Settlement procedures, escrow and trust accounts, buyer premiums, seller commissions, monthly reconciliation

15%

Conducting the Sale

License display, opening announcements, bid calling, bid increments, reserve versus absolute, clerking and the record book of sales

14%

Appraisal

Value definitions, comparable-sales and cost approaches, asset-class valuation, appraisal documentation and conflicts of interest

8%

Merchandising

Cataloging, lotting strategy, sale order, staging and presentation, condition reporting, as-is disclaimers

7%

Soliciting

Prospecting for consignments, listing presentations, competitive commission proposals, the written auction agreement

Preparing for the FL Auctioneer Exam

What You Need to Know

  • Passing score: Scaled score of 75
  • Exam length: 50 questions
  • Time limit: 1 hour
  • Exam / certification fees: $233.50 to DBPR plus $16.50 to Pearson VUE Official sources

Using Our Practice Resources

  • Work through all 203 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

FL Auctioneer: Suggested Study Strategy

1Focus on advertising rules (20% of exam) — memorize the eight statutory tests for false or deceptive advertising in F.S. 468.388(11)(b)
2Master Florida Statute Chapter 468 Part VI, Chapter 455, and Rule 61G2, F.A.C. — the three sources the exam explicitly draws from
3Study financial aspects including the 2-working-day escrow deposit rule, the $100 administrative cap, and buyer premium calculations
4Do not skip appraisal (14%), merchandising (8%), and soliciting (7%) — together they are 29% of the exam and are the areas most prep material ignores
5Know the difference between absolute, with reserve, and minimum bid auctions, and what must be announced at the opening of the sale

Frequently Asked Questions

How hard is the Florida auctioneer exam?

The FL auctioneer exam has 50 multiple-choice questions with a 1-hour time limit and requires a minimum scaled score of 75. Advertising (20%), legal (18%), and financial aspects (18%) make up the largest portions, followed by conducting the sale (15%) and appraisal (14%). Studying Florida Statute Chapter 468, Part VI is essential.

What are the Florida auctioneer license requirements?

Florida requires applicants to be at least 18 years old, qualify through either 80 classroom hours of board-approved instruction or a 1-year sponsored apprenticeship, pass the state examination with a scaled score of 75, and be approved by the Board of Auctioneers. The license is issued under Chapter 468, Part VI, F.S. Florida does not require fingerprinting or a high school diploma for this license.

What is the Auctioneer Recovery Fund in Florida?

The Auctioneer Recovery Fund is created by F.S. 468.392 as a separate account in the Professional Regulation Trust Fund and is administered by the Florida Board of Auctioneers to compensate consumers who suffer losses caused by licensed auctioneers. Under F.S. 468.395, recovery is capped at $50,000 per claim or claims arising out of the same transaction, with a $100,000 aggregate lifetime limit per licensee.

What advertising rules apply to Florida auctioneers?

Under F.S. 468.388(11), all advertising must include the name and Florida license number of both the auctioneer and the auction business. Advertising is deemed false or deceptive if it fails any of eight statutory tests, including advertising an auction as absolute without specifying items sold with reserve or minimum bids, or omitting the percentage amount of any buyer's premium.