NH Auctioneer study plan

Define at least 40 core auctioneering terms (reserve, absolute auction, with reserve, bid caller, chant, ringman, buyer's premium, hammer price, upset price, proxy bid, absentee bid, tie bid, lot, consignor, bidder number, clerk, cashier) in your own words and build a personal glossary

Distinguish absolute from with-reserve sales and explain how each affects withdrawal rights and bidder expectations

Map the four exam domains to their weightings and draft a week-by-week calendar that allocates the most hours to Domains 2 and 4

Outline the structure of the New Hampshire auctioneer licensing statute and identify where definitions, licensing, and board authority sit

Summarize New Hampshire auctioneer licensing requirements: application, age and education thresholds, examination, fee, and license term

Explain the roles and authority of the licensing board, including complaint, disciplinary, and hearing procedures

List continuing education and renewal obligations and the consequences of lapse or unlicensed practice

Identify which conduct can trigger license suspension or revocation and match each to its statutory basis

Describe required recordkeeping for each auction: bidder registration, clerking sheets, settlement statements, and retention periods

Trace the path of funds from bidder payment to consignor payout and identify where trust or escrow duties attach

Explain the rules for handling buyer's premiums, sales tax collection, and commissions

Draft a checklist a clerk could use at a live sale to keep records compliant

Draft a sample auction listing contract that states commission, reserve or absolute status, withdrawal rights, and settlement timing

Identify required seller disclosures, including ownership, liens, and known defects, and explain why each matters

Explain the elements of the auctioneer's agency relationship with the consignor, including fiduciary duties

Apply New Hampshire consumer protection concepts to misleading advertising, phantom bids, and undisclosed reserves

Explain trust-fund accounting: segregation, no commingling, timely disbursement, and reconciliation

Work through three practice settlement scenarios (absolute sale, reserve not met, buyer default) and compute who owes what

Describe disclosure duties owed to bidders at the podium, including chandelier bids, reserve announcements, and conditions of sale

Identify red flags in a settlement statement and describe corrective steps

Practice bid-calling mechanics: increments, tie-bid resolution, and closing the lot clearly

Explain how online and absentee bidding interacts with live floor bidding and how to document each bid

Describe handling of disputes, retracted bids, and resale of a defaulted lot

Rehearse a mock sale of 15 lots while a partner records bids and flags procedural errors

Answer 100 mixed practice questions across all four domains and log every miss with its domain and cause

Re-read the weakest two domains and rewrite your summaries from memory

Build a one-page quick-reference sheet of deadlines, dollar thresholds, and required disclosures

Explain to a study partner how a complaint against an auctioneer would proceed from filing to board decision

Take two full-length timed practice exams and score at least 80 percent on each

Review every missed item and confirm you can state the correct rule without notes

Recite your glossary, quick-reference sheet, and settlement steps from memory

Confirm exam-day logistics: identification, calculator rules, and time-per-question pacing