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100+ Free KY Auctioneer Practice Questions

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Which Kentucky statute governs auctioneer licensing and regulation?

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ArticleFree Auctioneer Practice Test by State 2026: 2,100+ Questions24 min read
2026 Statistics

Key Facts: KY Auctioneer Exam

$125

Exam Fee

KY Board of Auctioneers

70%

Passing Score

KY Board of Auctioneers

100 Q

Practice Questions

OpenExamPrep

2 Parts

Written + Oral Exam

KY Board of Auctioneers

2 hrs

Time Limit

KCTCS

Kentucky requires auctioneers to pass a two-part exam: a 100-question written test covering KRS 330, contracts, UCC, ethics, and sales tax, plus an oral bid-calling exam. The exam is administered by KCTCS, and candidates must score at least 70% on the written portion.

Sample KY Auctioneer Practice Questions

Try these sample questions to test your KY Auctioneer exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which Kentucky statute governs auctioneer licensing and regulation?
A.KRS 324
B.KRS 330
C.KRS 286
D.KRS 367
Explanation: KRS 330 is the Kentucky Revised Statute that governs the licensing and regulation of auctioneers in the Commonwealth of Kentucky. It establishes the Kentucky Board of Auctioneers, sets licensing requirements, and defines prohibited practices.
2Who administers the Kentucky auctioneer licensing examination?
A.Kentucky Real Estate Commission
B.Prov, Inc.
C.Kentucky Community and Technical College System (KCTCS)
D.National Auctioneers Association
Explanation: The Kentucky Community and Technical College System (KCTCS) administers the Kentucky auctioneer licensing examination on behalf of the Kentucky Board of Auctioneers. KCTCS handles exam scheduling, proctoring, and scoring.
3What is the minimum passing score on the Kentucky auctioneer written exam?
A.60%
B.65%
C.70%
D.75%
Explanation: Candidates must score at least 70% on the written portion of the Kentucky auctioneer exam to pass. This means at least 70 out of 100 questions must be answered correctly on the written exam.
4What two exams must a Kentucky auctioneer candidate pass to obtain licensure?
A.Written exam and background check
B.Written exam and oral/bid-calling exam
C.National exam and state exam
D.Practical exam and apprenticeship evaluation
Explanation: Kentucky requires auctioneer candidates to pass both a written examination covering auction law, contracts, and ethics, and an oral/bid-calling examination that tests practical auctioneering skills. Both must be passed to obtain a license.
5What is the examination fee for the Kentucky auctioneer licensing exam?
A.$75
B.$100
C.$125
D.$150
Explanation: The Kentucky auctioneer licensing exam fee is $125. This fee covers the written examination. Additional fees may apply for the license application and the oral/bid-calling portion of the exam.
6Under KRS 330, which entity has the authority to issue, suspend, or revoke auctioneer licenses in Kentucky?
A.Kentucky Secretary of State
B.Kentucky Department of Revenue
C.Kentucky Board of Auctioneers
D.Kentucky Attorney General
Explanation: The Kentucky Board of Auctioneers, established under KRS 330, has the authority to issue, suspend, and revoke auctioneer licenses. The Board also establishes rules and regulations governing the conduct of auctioneers in Kentucky.
7Which of the following is considered shill bidding under Kentucky auction law?
A.An auctioneer accepting a phone bid from an absentee buyer
B.A consignor placing bids on their own property to drive up the price
C.A bidder retracting a bid before the hammer falls
D.An auctioneer setting a minimum opening bid
Explanation: Shill bidding occurs when the seller, consignor, or someone acting on their behalf places fictitious bids to artificially inflate the price. Under Kentucky law and UCC provisions, this practice is prohibited and constitutes fraud, especially in without-reserve auctions.
8Under UCC Article 2, when is a sale by auction considered 'with reserve' unless otherwise indicated?
A.Only when the auctioneer explicitly states it
B.Only at real estate auctions
C.Always, unless the goods are put up without reserve
D.Only when the seller provides written notice
Explanation: Under UCC Section 2-328, a sale by auction is with reserve unless the goods are explicitly put up without reserve. In a with-reserve auction, the auctioneer may withdraw the goods at any time until the hammer falls.
9What is the primary fiduciary duty an auctioneer owes to the seller (principal)?
A.Obtaining the highest possible price at any cost
B.Acting in the best interest of the seller with loyalty and good faith
C.Guaranteeing a minimum sale price
D.Providing legal counsel on contract disputes
Explanation: An auctioneer's primary fiduciary duty to the seller is to act in the seller's best interest with loyalty and good faith. This includes duties of obedience, disclosure, accounting, confidentiality, and reasonable care in conducting the auction.
10In Kentucky, what must an auctioneer include in all auction advertisements?
A.The auctioneer's Social Security number
B.The auctioneer's license number
C.The exact final sale price
D.A list of all items by serial number
Explanation: Kentucky law requires auctioneers to include their license number in all auction advertisements. This ensures public accountability and allows potential buyers to verify the auctioneer's credentials with the Kentucky Board of Auctioneers.

About the KY Auctioneer Exam

The Kentucky Licensed Auctioneer exam is administered by the Kentucky Community and Technical College System (KCTCS) on behalf of the Kentucky Board of Auctioneers. Candidates must pass both a written exam and an oral/bid-calling exam. The written exam covers Kentucky auction law (KRS 330), contract law, UCC provisions, ethics, advertising regulations, sales tax requirements, and auction procedures. A score of 70% or higher is required to pass.

Questions

100 scored questions

Time Limit

2 hours

Passing Score

70%

Exam Fee

$125 (Kentucky Board of Auctioneers / KCTCS)

KY Auctioneer Exam Content Outline

25%

Kentucky Auction Law (KRS 330)

Kentucky Revised Statutes Chapter 330, licensing requirements, Board of Auctioneers authority, prohibited practices, license renewal, and disciplinary actions

20%

Contract Law & UCC

UCC Article 2 auction provisions, reserve vs. without-reserve auctions, statute of frauds, offer and acceptance, buyer-seller contracts, and warranty obligations

15%

Auction Ethics & Professional Conduct

Fiduciary duties, shill bidding prohibitions, disclosure requirements, conflicts of interest, trust account handling, and professional standards

15%

Auction Procedures & Bid Calling

Bid calling techniques, opening bids, bid increments, dispute resolution, clerk duties, settlement procedures, and auction-day logistics

10%

Principal-Agent Relationships

Agency relationships, fiduciary duties, authority types, seller-auctioneer agreements, consignment contracts, and dual agency restrictions

8%

Advertising & Marketing Rules

Kentucky advertising compliance, required disclosures, truth-in-advertising, reserve/absolute auction terminology, and online auction advertising rules

7%

Financial Math & Sales Tax

Commission calculations, settlement statements, buyer premiums, Kentucky sales tax requirements, trust account reconciliation, and basic accounting

How to Pass the KY Auctioneer Exam

What You Need to Know

  • Passing score: 70%
  • Exam length: 100 questions
  • Time limit: 2 hours
  • Exam fee: $125

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

KY Auctioneer Study Tips from Top Performers

1Master KRS 330 thoroughly — know the licensing requirements, exemptions, prohibited practices, and disciplinary actions enforced by the Kentucky Board of Auctioneers
2Study UCC Article 2 auction provisions, especially the differences between reserve and without-reserve auctions and when a bid becomes a binding contract
3Practice commission calculations, buyer premium math, settlement statements, and Kentucky sales tax computations under timed conditions
4Understand the fiduciary duties owed by an auctioneer to the principal including loyalty, obedience, disclosure, accounting, and confidentiality
5Review Kentucky-specific advertising rules and required disclosures including license number display, auction type designation, and terms of sale requirements

Frequently Asked Questions

What does the Kentucky auctioneer licensing exam cover?

The Kentucky auctioneer exam covers KRS 330 (Kentucky auction law), contract law, UCC Article 2 provisions, auction ethics, bid-calling procedures, advertising rules, principal-agent relationships, and financial math including Kentucky sales tax. Candidates must pass both a written exam and an oral/bid-calling exam.

How much does the Kentucky auctioneer exam cost?

The Kentucky auctioneer licensing exam fee is $125. This covers the written examination administered by the Kentucky Community and Technical College System (KCTCS). Additional fees may apply for the oral/bid-calling portion and license application.

What score do I need to pass the Kentucky auctioneer exam?

You must score at least 70% on the written portion of the Kentucky auctioneer exam to pass. The exam consists of 100 multiple-choice questions, so you need at least 70 correct answers. You must also pass the oral/bid-calling exam.

Who administers the Kentucky auctioneer licensing exam?

The Kentucky auctioneer exam is administered by the Kentucky Community and Technical College System (KCTCS) on behalf of the Kentucky Board of Auctioneers. The Board oversees all auctioneer licensing in the state under KRS 330.