Pennsylvania Auctioneer Practice Exam

What do the five lights at car auctions mean?

1. A. Immovable, cannot destroy, unique

2. B. "As is", some buyer protection, certain conditions announced, title absent

3. C. Right of privilege

4. D. Water rights

The correct answer is: B. "As is", some buyer protection, certain conditions announced, title absent

At car auctions, the five lights refer to different conditions that indicate the state of the vehicle being sold. Option B is the correct answer because it accurately describes what each of the five lights represents: "As is" indicates that the vehicle is being sold in its current condition without any warranties or guarantees. Some buyer protection suggests that there may be limited protections for the buyer. Certain conditions announced means that specific details about the vehicle have been disclosed during the auction. Finally, title absent indicates that the title for the vehicle is not immediately available for transfer to the buyer. These conditions are important for buyers to be aware of before bidding on a car at an auction. Options A, C, and D are incorrect as they do not accurately describe the meaning of the five lights at car auctions.