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Question 1 of 10

1. Question

Which of these is not a typical method of sale

raffle
Correct Incorrect Correct answer

private treaty
Correct Incorrect Correct answer

tender
Correct Incorrect Correct answer

public auction
Correct Incorrect Correct answer
Question 2 of 10

2. Question

PSRA A licence holders are not permitted to auction

Livestock
Correct Incorrect Correct answer

Antiques
Correct Incorrect Correct answer

Land
Correct Incorrect Correct answer

Vehicles
Correct Incorrect Correct answer
Question 3 of 10

3. Question

When displaying a PSRA licence, it is permitted to photocopy a licence and display it elsewhere

True
Correct Incorrect Correct answer

False
Correct Incorrect Correct answer
Question 4 of 10

4. Question

In which of the following does a licence number not need to be displayed

At an auctions site
Correct Incorrect Correct answer

Photo of property
Correct Incorrect Correct answer

Newspaper advertisements
Correct Incorrect Correct answer

Sales catalogue
Correct Incorrect Correct answer
Question 5 of 10

5. Question

Which of the following functions may only be undertaken by a licence holder

Auction of property
Correct Incorrect Correct answer

Read out contracts of sale
Correct Incorrect Correct answer

Record bids on day of auction
Correct Incorrect Correct answer

Prepare brochures
Correct Incorrect Correct answer
Question 6 of 10

6. Question

Which of these functions may be delegated by a a licence holder to an employee

Signing contracts
Correct Incorrect Correct answer

Recording bids on the day of an auction
Correct Incorrect Correct answer

Selling property under the hammer
Correct Incorrect Correct answer

Taking vendor's instructions
Correct Incorrect Correct answer
Question 7 of 10

7. Question

For how long should records of the provision of a property servive be retained

1 year
Correct Incorrect Correct answer

2 years
Correct Incorrect Correct answer

6 years
Correct Incorrect Correct answer

7 years
Correct Incorrect Correct answer
Question 8 of 10

8. Question

A cash origin form should be completed where a cash payment is in excess of

€1
Correct Incorrect Correct answer

€500
Correct Incorrect Correct answer

€100
Correct Incorrect Correct answer

€5000
Correct Incorrect Correct answer
Question 9 of 10

9. Question

Marts may use a cash ledger book or software equivalent in lieu of a cash origin form

True
Correct Incorrect Correct answer

False
Correct Incorrect Correct answer
Question 10 of 10

10. Question

CDD Occasional Transaction or Series of Transactions for Art Auctions over €10k are required when

Where there is a single transaction only
Correct Incorrect Correct answer

Where there is a series of transactions only
Correct Incorrect Correct answer

Whether there is a single transaction or a series of transactions
Correct Incorrect Correct answer

Where the PSP is suspicious of the transaction only
Correct Incorrect Correct answer

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