FL Auctioneer study plan

FL Auctioneer · Give each week a clear focus.

8 weeks · About 6 hours per week

Week 1

Auctioneering principles, practices, and bid calling

Define and contrast at least six auction formats (absolute, reserve, minimum bid, sealed bid, online timed, live simulcast) in your own words.
Drill bid calling 15 minutes daily, practicing number fluency 1-100 and money increments.
Build a glossary of 40 auction and bid-calling terms, each with a one-line example of use.
Explain how to set bid increments based on item value, crowd size, and platform.

A 3-minute recorded bid-calling demo (opening, numbers, filler, close) plus a 40-term glossary.

Week 2

Map the structure of Florida Statutes Chapter 468, Part VI and mark the sections covering licensure, exemptions, and discipline.
Determine who must hold a Florida auctioneer license and list at least five statutory exemptions in writing.
Describe the authority of the Board of Auctioneers and the Department of Business and Professional Regulation in your own words.
Deliver a 60-second chant that incorporates an opening, a full item description, and a clean close.

A one-page 'License required: yes/no' decision outline with statute citations, plus a 2-minute recorded chant.

Week 3

Memorize license types, application requirements, renewal cycle, and continuing education hours.
List prohibited acts and grounds for discipline, and match each to its likely penalty range.
Outline advertising, disclosure, and record-related requirements imposed on licensees.
Complete 60 practice questions on Domain 2 and log every miss with the rule or statute cited.

A 60-question Domain 2 self-quiz scored at 80% or better, with a corrected error log.

Week 4

Draft a complete auction listing and commission agreement containing all required elements and disclosures.
Write terms and conditions covering buyer's premium, payment deadlines, removal, default, and reserve status.
Distinguish the contract with the seller from the contract of sale with the buyer, and explain how each is formed at the fall of the hammer.
Match five disciplinary fact patterns to the specific rule or statute each one violates.

A contract packet (seller agreement plus terms and conditions) checked against a self-built completeness checklist.

Week 5

Build a record retention schedule listing each record type, its required contents, and its retention period.
Design a clerk's sheet template capturing buyer, lot, description, hammer price, premium, tax, and payment method.
Reconcile a sample auction settlement from gross proceeds through commissions, premiums, and expenses to net to seller.
Explain the required separation of trust or escrow funds from operating funds.

A template packet (clerk's sheet, settlement statement, retention schedule) plus a completed sample settlement that balances to zero.

Week 6

Trace funds from buyer deposit through escrow to seller disbursement in a written step-by-step flow.
List prohibited uses of trust funds and identify three common handling errors that create liability.
Prepare a closing statement for a mock 30-lot auction and verify it reconciles.
Differentiate the fiduciary duties owed to the seller from those owed to the buyer, and identify where they conflict.

An escrow fund-flow diagram plus a balanced closing statement for a 30-lot mock auction.

Week 7

Apply the duties of loyalty, disclosure, accounting, and confidentiality to ten written scenarios.
Analyze conflicts of interest including buying at your own auction, shill bidding, and undisclosed compensation.
Write and rehearse a script for declining a seller's request to place phantom bids.
Summarize escrow and closing responsibilities in a one-page pre-auction checklist.

Ten written scenario responses, each naming the duty or rule implicated and the correct course of action.

Week 8

Take two timed 100-question practice exams spanning all four domains.
Score 85% or higher and restudy every missed item until it is explained from memory.
Recite Florida license renewal and continuing education requirements without notes.
Compile a one-page weak-spots sheet and schedule final reviews of the three lowest-scoring subtopics.

Two timed 100-question exams scored at 85% or better, supported by a completed error log and weak-spots sheet.

Week 2: Can explain without notes who needs a Florida auctioneer license, name five exemptions, and deliver a clean 60-second chant.

Week 4: Scores 80% or higher on the 60-question Domain 2 quiz and has a complete, checklist-verified contract packet.

Week 6: Produces a balanced settlement and closing statement and can trace every dollar from buyer deposit to seller disbursement.

Week 8: Scores 85% or higher on two timed 100-question exams covering all four domains, with all missed items remediated.