21 NCAC .05 Schools of Auctioneering

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Questions and Answers

What is the validity period for the approval of a school's curriculum and instructors by the Board?

One year

Renewable every year

Two years (correct)

Three years

Under what condition may an unlicensed individual call bids as part of their instruction in a school of auctioneering?

Only for educational purposes under supervision (correct)

For any auction event

If they have a training permit

When supervised by any instructor

What could lead to the denial, suspension, or revocation of a school's curriculum and instructor approval?

Failure to meet or maintain requirements (correct)

Changes in the school’s building

A lack of student enrollment

Insufficient classroom space

What information must be maintained by the school for each course offered?

All instructors' names and the hours devoted Signup and view all the answers

What is one consequence of falsifying required information related to a school's curriculum?

Denial or revocation of the school's approval Signup and view all the answers

What is the minimum number of hours of instruction required for students in an approved auctioneers course?

80 hours Signup and view all the answers

How many different instructors must be included in the curriculum of an approved auctioneers school?

Five Signup and view all the answers

What is the maximum amount of instruction hours that can be counted from one individual instructor?

20 hours Signup and view all the answers

What is required of instructors according to the standards for those teaching in an approved school?

Must exhibit truth, honesty, and integrity Signup and view all the answers

What percentage of classroom instruction time should a 10-minute break account for in a total of 60 minutes?

10% Signup and view all the answers

For how many years must schools maintain records of course offerings and student information?

Five years Signup and view all the answers

What information must be included in the transcript given to students upon course completion?

Student name and total hours completed Signup and view all the answers

What are the classrooms required to have according to the auctioneers school standards?

Climate control and sufficient seating capacity Signup and view all the answers

What is the minimum number of hours required for the Essential Core Curriculum in auctioneering courses?

50 hours Signup and view all the answers

Which of the following subjects is NOT part of the minimum curriculum requirements for auctioneering courses?

Negotiating Ethics Signup and view all the answers

What is a requirement for schools of auctioneering concerning changes in information provided to the Board?

Notification must occur within 30 days of any change. Signup and view all the answers

Which of these requirements must be included in the application for course approval?

The name and education qualifications of each instructor Signup and view all the answers

How many hours of instruction on North Carolina Auctioneers Law and Rules are required for students interested in becoming applicants?

2 hours Signup and view all the answers

Which of the following options correctly describes a part of the Supplemental Instruction Areas?

Public Speaking Signup and view all the answers

In addition to the instructor qualifications, what other information must be provided in the application regarding instructors?

The instructor(s) for, and hours to be taught in each Essential Core Curriculum topic Signup and view all the answers

What does the Board require for course approval applications in terms of instructor's experience?

They must submit the number of years they have been a licensed auctioneer. Signup and view all the answers

Study Notes

Auctioneers Law and Rules and Regulations

Auctioneer training courses must include at least 8 hours of instruction on Auctioneers Law and Rules and Regulations.
Students must complete a minimum of 80 hours of classroom instruction covering all required subjects.
One hour of instruction is equivalent to 50 minutes of classroom instruction or practical exercise followed by a 10-minute break.
A minimum of five different instructors must teach the curriculum, with at least two being professional auctioneers.
No single instructor can contribute more than 20 hours to the required course hours.
Each school is required to establish standards for all instructors, including minimum training or experience in their respective fields.
Instructors are expected to adhere to the principles of truth, honesty, and integrity as outlined in Rule 21 NCAC 04B.0404(a)(15).

Course Completion Certification

Schools must provide each student who completes their course a transcript containing their name, course completion date, and total hours completed.

Record Maintenance

Schools must maintain records for five years and make them available upon request.
These records should include:
- Dates, times, and locations of all courses offered.
- Names, addresses, and completed hours for each student.
- Lists of all instructors, their qualifications, and addresses.
- For each course, the names of instructors, subjects taught, hours dedicated by each instructor to each subject, and dates and times of instruction.

Approval, Denial, Suspension, or Revocation of School Curricula and Instructors

The Board approves school curricula and instructors for a two-year period.
Reapproval is evaluated before the two-year period expires.
The Board can deny, suspend, or revoke approval if the school fails to meet or maintain any requirement of the regulations.
Approval can also be denied, suspended, or revoked if any information provided to the Board is found to be falsified or misrepresented.

Unlicensed Bid Callers: Exceptions

Students enrolled in a Board-approved auctioneering school can call bids without a license for training purposes.
This must be done under the direct supervision of a licensed auctioneer who is also an instructor.
The licensed auctioneer is responsible for the student's bid calling activities.

Applying for Course Approval

Schools seeking approval from the Board must submit an application form:
- Application form includes:
  - School name
  - School director's name
  - School's physical, postal, and email addresses
  - Website address (if applicable)
  - School's telephone number(s)
  - Name, educational and experience qualifications, and teaching hours for each instructor
  - Instructors for, and hours to be taught in, each Essential Core Curriculum topic
  - Instructors for, and hours to be taught in, each supplemental Instruction topic
  - School director's signature.
Schools must notify the Board within 30 days of any changes to information provided in the application.

Minimum Standards for Course Approval

School curricula must include classroom instruction in the following subjects for the minimum number of hours specified:
- Essential Core Curriculum (minimum 50 hours):
  - Advertising and Marketing (4 hours)
  - Auctioneers Law and Rules and Regulations (8 hours)
  - Uniform Commercial Code and Bulk Transfers (2 hours)
  - Drafting and Negotiating Contracts (2 hours)
  - Closing Statements and Settlements (2 hours)
  - Accounting and Mathematics (8 hours)
  - Auctioneering Ethics (2 hours)
- Supplemental Instruction Areas (minimum 30 hours):
  - Antiques
  - Heavy Equipment
  - Real Estate
  - Automobiles
  - Technology
  - Cattle and Livestock
  - Environmental Issues
  - Public Speaking
  - Computers
  - Estate Sales
  - Firearms
  - Appraising
  - Foreclosure and Bankruptcy Sales
  - Sales Tax Requirements
  - Art, Rugs, Jewelry
  - Ring Work
  - Body Language
  - Consignment Auctions.
Schools training students who intend to become North Carolina auctioneers must provide at least 2 hours of instruction on North Carolina Auctioneers Law and Rules (G.S. 85B and 21 NCAC 04B).

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Description

This quiz covers essential aspects of auctioneer training, focusing on the laws and regulations that govern this profession. Students will learn about the required instructional hours, instructor qualifications, and ethical standards for auctioneers. Test your knowledge and ensure you are informed about the legal framework guiding auctioneer practices.