Auction License Act: licensing (Articles 5, 10 and 30) 24
A 16-year-old sells items at auction under the direct supervision of a licensed auctioneer. Up to what value does Section 10-1(c) allow?225 ILCS 407/10-1(c)
A licensee changes the address of record. Within how many days must the Department be informed?225 ILCS 407/10-22
A licensee pleads guilty to obtaining money under false pretenses. How soon must the Department be told?225 ILCS 407/10-5(c)
A nonresident applicant files an irrevocable consent to suit in Illinois. On whom may process then be served?225 ILCS 407/10-45(b)
A not-for-profit holds a charity auction. When is no license needed?225 ILCS 407/10-1(a)(1)
A website lets users list goods and take online bids, sets no prices, writes no descriptions and uses no human auctioneer. Does the Act apply to it?225 ILCS 407/10-1(d)
After how long expired must an auctioneer meet the requirements of a new license?225 ILCS 407/10-40(a-5)
An auctioneer's license expired 18 months ago. May it be renewed without examination?225 ILCS 407/10-40(a)
An Illinois auctioneer stops holding sales and asks for inactive status. What is the longest that status may last?225 ILCS 407/10-40(d)
How does the Act define a "buyer premium"?225 ILCS 407/5-10
Show all 74 questions (64 more)
Auction License Act: licensing (Articles 5, 10 and 30), continued
How many members sit on the Auction Advisory Board, and how many of them are licensed auctioneers?225 ILCS 407/30-30(a)
Into which fund have fees and fines collected under the Act been deposited since July 1, 2023?225 ILCS 407/10-50(b)
One licensed auctioneer runs a single member limited liability company and is the only licensee holding auctions for it. Does the company need an auction firm license?225 ILCS 407/10-1(g)
The Secretary appoints an auctioneer to the Auction Advisory Board. For how many years does the appointment run?225 ILCS 407/30-30(b)
Section 10-30 opens a renewal window ahead of the expiration date of an auctioneer license. How wide is it?225 ILCS 407/10-30(a)
The seven-member Auction Advisory Board meets. How many must be present before it can decide anything?225 ILCS 407/30-30(c)
What does Part 1440 charge for a first application for an Illinois auctioneer license?68 Ill. Adm. Code 1440.170(a)
What is an "auction service" in Section 5-10?225 ILCS 407/5-10
What is the least continuing education the rules must require of an auctioneer who renews?225 ILCS 407/10-30(b)
What must a corporation show to obtain an auction firm license?225 ILCS 407/10-20
What must a nonresident applicant give the Department to be licensed by reciprocity without examination?225 ILCS 407/10-45(a)
Which department licenses auctioneers under the Auction License Act?225 ILCS 407/5-10
Which of these does Section 10-5 require of every applicant for an auctioneer license?225 ILCS 407/10-5(a)
Who is a "managing auctioneer"?225 ILCS 407/5-10
Auction License Act: business practices and rules (Article 15) 17
A bid caller tells the crowd that a painting "will double in value by spring". Which bar in the Auction License Act does that break?225 ILCS 407/15-5(2)
A buyer premium will be charged at a sale. What must any advertisement for it disclose?68 Ill. Adm. Code 1440.230(d)
A ring assistant with no license sees a bid in the crowd. What may the assistant do?68 Ill. Adm. Code 1440.240(b)(8)
Actual advertising costs run past the estimate in the contract. Past what point must the auctioneer pay the excess, unless the seller agrees in writing to pay it?225 ILCS 407/15-10(1)(C)
An employee of an auction firm violates the Act. Who else is deemed to have violated it?225 ILCS 407/15-15
By when must the written auction contract with the seller be entered into?225 ILCS 407/15-10
For an absolute auction, what binding written requirement must the auction contract hold?68 Ill. Adm. Code 1440.260(b)(2)
For what purpose may a licensee put the licensee's own funds into a special account that holds escrow monies?68 Ill. Adm. Code 1440.270(f)
How often must the bank statements of a special account be reconciled?68 Ill. Adm. Code 1440.270(c)(4)
How soon must escrow monies go into the licensee's special account?68 Ill. Adm. Code 1440.270(g)
May a partnership be licensed as an auction firm if no licensed auctioneer manages it?225 ILCS 407/15-25
Of the 12 hours of continuing education, how many must be in the mandatory core subjects?68 Ill. Adm. Code 1440.310(b)(3)(A)
What may an advertisement for an "absolute auction" not include?68 Ill. Adm. Code 1440.260(a)
What must a licensee do with the complete terms and conditions of an auction?68 Ill. Adm. Code 1440.230(c)
What must every auction contract state about the kind of auction?225 ILCS 407/15-10
What must the licensee disclose in the auction contract about a buyer premium?225 ILCS 407/15-10(1)(D)
Which of these must the seller disclose in the auction contract?225 ILCS 407/15-10(2)(B)
Auction License Act: discipline (Article 20) 15
After a disciplinary hearing, the Advisory Board's report reaches the auctioneer. How many days are there to move in writing for a rehearing?225 ILCS 407/20-56
An auctioneer is cited for missing continuing education hours and wants to contest it. What is the deadline for a written request for a hearing?225 ILCS 407/20-15.1(b)
An auctioneer puts sellers' proceeds into the same account as the auctioneer's own money. What is this ground for discipline called?225 ILCS 407/20-15(13)
An auctioneer's license is summarily suspended as an emergency measure. By when must the hearing start?225 ILCS 407/20-80
An auctioneer's renewal check bounces. What does Section 20-95 add to the amount already owed?225 ILCS 407/20-95
An owner asks in writing for the return of money the auctioneer holds. Within what time must the auctioneer account for it or return it?225 ILCS 407/20-15(14)
Crying a sale in Illinois without an auctioneer license can cost how much, at most, for each offense under Section 20-5?225 ILCS 407/20-5(a)
Department personnel ask during business hours to see the escrow records. How soon must they be made available?225 ILCS 407/20-15(16)
The Department sends a licensee a written request for information. How long does the licensee have to answer?225 ILCS 407/20-15(19)
How does Section 20-100 class a first offense of violating the Act?225 ILCS 407/20-100
How long after an alleged violation may action still be taken against a licensee under the Act?225 ILCS 407/20-115
May a licensed auctioneer take a fee for referring a client to another licensed auctioneer?225 ILCS 407/20-15(8)
Section 20-5 gives an unlicensed auctioneer a fixed time to pay up once the order takes effect. How long?225 ILCS 407/20-5(c)
Section 20-15 lists the grounds for disciplining an auctioneer. How large a fine may each violation bring?225 ILCS 407/20-15
What is the most a citation for not completing continuing education may impose?225 ILCS 407/20-15.1(a)
Auction math 14
A commission of $1,890 was charged at 14 percent of the gross. What was the gross?Own arithmetic question; the answer is worked from the numbers in the question
A consignor's goods sell for $3,250. The commission is 30 percent and a $25 hauling fee is charged to the consignor. What is the settlement check?Own arithmetic question; the answer is worked from the numbers in the question
A farm of 82.5 acres sells at auction for $6,400 an acre, and the commission is 2 percent of the sale price. What is the commission?Own arithmetic question; the answer is worked from the numbers in the question
A lot is hammered down at $2,400 and the terms set a 10 percent buyer premium. What does the buyer pay before any tax?Own arithmetic question; the answer is worked from the numbers in the question
A sale grosses $12,000. The commission is 20 percent and the seller owes $450 in advertising. What does the seller net?Own arithmetic question; the answer is worked from the numbers in the question
An auction grosses $18,500 and the contract sets the commission at 15 percent of gross. What is the commission?Own arithmetic question; the answer is worked from the numbers in the question
An estate sale grosses $46,200. The commission is 18 percent and the contract lists $1,150 of expenses charged to the seller. What is paid to the estate?Own arithmetic question; the answer is worked from the numbers in the question
Bidding on a lot opens at $3,500 and rises in $250 increments. How many increments does it take to reach a $5,000 reserve?Own arithmetic question; the answer is worked from the numbers in the question
The commission on each lot is 25 percent of the first $1,000 and 10 percent of anything above that. A lot sells for $3,600. What is the commission?Own arithmetic question; the answer is worked from the numbers in the question
The contract estimates advertising at $800 and the actual cost is $1,100. The seller has not agreed in writing to pay more. Under the 120 percent rule of Section 15-10, how much of the cost falls on the auctioneer?Own arithmetic question; the answer is worked from the numbers in the question
The hammer price is $850, the buyer premium is 12 percent, and the terms state that an 8 percent tax applies to the hammer price plus premium. What is the total due?Own arithmetic question; the answer is worked from the numbers in the question
One buyer wins three lots at $120, $75 and $305. The buyer premium is 10 percent. What does the buyer owe before any tax?Own arithmetic question; the answer is worked from the numbers in the question
The terms require the high bidder on real estate to put down 10 percent of the bid on sale day. The high bid is $215,000. What is the deposit?Own arithmetic question; the answer is worked from the numbers in the question
Two auctioneers split a $4,200 commission 60/40. What does the one with the larger share receive?Own arithmetic question; the answer is worked from the numbers in the question
Other topics: auction terms 4
In an auction without reserve, what stops the auctioneer from withdrawing a lot?810 ILCS 5/2-328(3)
To which sale does the rule against undisclosed bids on the seller's behalf not apply?810 ILCS 5/2-328(4)
Until what moment may a bidder retract a bid?810 ILCS 5/2-328(3)
What is an "estate sale service" under the Act, and what does it leave out?225 ILCS 407/5-10
How this list was compiled: Auction License Act, 225 ILCS 407, Articles 5, 10, 15, 20 and 30, and section 2-328 of the Uniform Commercial Code (810 ILCS 5/2-328), read on October 12, 2026 on the Illinois General Assembly's site (https://www.ilga.gov/Legislation/ILCS/Articles?ActID=1350&ChapterID=24); and the Auction License Act rules, 68 Illinois Administrative Code Part 1440, read the same day on the same site (https://www.ilga.gov/agencies/JCAR/Sections?PartID=06801440). The topics and their shares follow the Auctioneer Candidate Information Booklet of the Illinois Department of Financial and Professional Regulation, Division of Real Estate, dated May 19, 2026 (https://test-takers.psiexams.com/api/content/bulletin/4781). Each law question names its section and links to it; each math question is arithmetic on the numbers it gives. Licence: Own work. Every question, wrong choice and explanation was written for this site from the text of the law, and the math questions use made-up figures. Nothing comes from the state examination, a testing service, a prep course or an exam question pool.
How it works
This unofficial Illinois auctioneer practice test asks 74 of our own questions in the exam's three areas: the Auction License Act with its rules, auction math, and auction terms. Not affiliated with the Illinois Department of Financial and Professional Regulation.
Read the full guide
The three areas of the Illinois auctioneer exam
The Auctioneer Candidate Information Booklet, dated May 19, 2026, gives 37 of 50 scored questions to the License Act (Articles 5, 10, 15, 20 and 30) with the administrative rules, 10 to math, and 3 to other topics such as definitions of terms.
How the math is written
Commissions, buyer premiums, settlements and deposits, with made-up figures and the working shown. One question applies the Act's 120 percent rule on advertising costs.
Where the answers come from
The Auction License Act, 225 ILCS 407, its rules in 68 Illinois Administrative Code Part 1440, and section 2-328 of the Uniform Commercial Code, read on the General Assembly's site on October 12, 2026.
The written auction contract is signed before the date of the auction and says whether the sale is with reserve or absolute (Section 15-10).
Escrow monies go into the special account no later than the next business day (Section 1440.270).
A first offense under the Act is a Class A misdemeanor; the second is a Class 4 felony (Section 20-100).
Questions and answers
How many questions are on the Illinois auctioneer exam?
50 scored four-option multiple-choice questions, with one hour allowed, by the candidate booklet. It adds that one to ten unscored experimental questions may be mixed in and count against the time.
What score do you need to pass the Illinois auctioneer exam?
The booklet prints no pass mark. It says the score appears on screen when the examination ends and a score report is emailed.
How do you get an auctioneer license in Illinois?
Be at least 18, hold a high school diploma or its equivalent, pass the written examination, and apply to the department with the fee, $200 for a first application (Section 10-5 of the Act; Section 1440.170 of the rules).
Do you need a license to be an auctioneer in Illinois?
Yes. Conducting an auction, providing an auction service or advertising as an auctioneer without a license is unlawful, with exemptions such as an owner's own auction and a charity auction whose auctioneer is unpaid (Section 10-1).