100+ Free VA Auctioneer Practice Questions
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Key Facts: VA Auctioneer Exam
75 Q
Exam Questions
PSI
75%
Passing Score
VA Board
100 Q
Practice Questions
OpenExamPrep
2.5 hrs
Time Limit
PSI
4
Content Areas
VA Board
Virginia requires auctioneers to pass a 75-question PSI exam with a 75% passing score. The exam heavily tests the Virginia Auctioneers Act (Title 54.1, Chapter 6), Virginia Administrative Code provisions, UCC Article 2 auction rules, trust account management, and fiduciary duties unique to Virginia.
About the VA Auctioneer Exam
The Virginia auctioneer licensing exam is administered by PSI on behalf of the Virginia Auctioneers Board under DPOR. It consists of 75 scored multiple-choice questions covering Virginia auction law (15 law + 13 regulation items), auction practices and ethics (22 items), contracts and UCC (15 items), and math and financial topics (10 items). Candidates must score 75% to pass.
Questions
75 scored questions
Time Limit
2.5 hours
Passing Score
75%
Exam Fee
Varies (PSI / Virginia Auctioneers Board)
VA Auctioneer Exam Content Outline
Laws, Rules & Regulations
Virginia Auctioneers Act (Title 54.1, Chapter 6), Virginia Administrative Code (18 VAC 25-21), DPOR oversight, licensing requirements, Board authority, and disciplinary procedures — 28 items (15 law + 13 regulation)
Auction Practices & Ethics
Fiduciary duties, shill bidding prohibitions, disclosure requirements, trust account management, professional conduct, conflict of interest rules, and bid-calling procedures — 22 items
Contracts & UCC
UCC Article 2 auction provisions (§2-328), Statute of Frauds, offer and acceptance, express and implied warranties, warranty disclaimers, and buyer default remedies — 15 items
Math & Financial
Commission calculations, settlement statements, buyer's premiums, sales tax (5.3%), trust account reconciliation, and sliding commission scales — 10 items
How to Pass the VA Auctioneer Exam
What You Need to Know
- Passing score: 75%
- Exam length: 75 questions
- Time limit: 2.5 hours
- Exam fee: Varies
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
VA Auctioneer Study Tips from Top Performers
Frequently Asked Questions
How many questions are on the Virginia auctioneer licensing exam?
The Virginia auctioneer exam consists of 75 scored multiple-choice questions. You must score at least 75% (57 correct out of 75) to pass. The exam is administered by PSI and you have 2.5 hours to complete it.
What are the requirements to become a licensed auctioneer in Virginia?
Virginia requires candidates to be at least 18 years old, demonstrate good moral character, pass the 75-question PSI exam with a 75% score, and apply through the Virginia Auctioneers Board under DPOR. A surety bond and trust account may also be required.
What topics does the Virginia auctioneer exam cover?
The exam covers four content areas: laws, rules, and regulations (28 items covering Virginia Auctioneers Act and Administrative Code), auction practices and ethics (22 items), contracts and UCC (15 items), and math and financial topics (10 items).
Who administers the Virginia auctioneer exam?
The Virginia auctioneer licensing exam is administered by PSI (PSI Services LLC) on behalf of the Virginia Auctioneers Board, which operates under the Department of Professional and Occupational Regulation (DPOR).