Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

COLORADO CAR SALES MASTERY EXAM 2024 | 230 QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED, Exams of Advertising and Sales Promotion

COLORADO CAR SALES MASTERY EXAM 2024 | 230 QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED A+ | LATEST VERSION

Typology: Exams

2023/2024

Available from 02/10/2024

essay-writers
essay-writers 🇺🇸

3.9

(29)

452 documents

1 / 51

Toggle sidebar

Related documents


Partial preview of the text

Download COLORADO CAR SALES MASTERY EXAM 2024 | 230 QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED and more Exams Advertising and Sales Promotion in PDF only on Docsity! COLORADO CAR SALES MASTERY EXAM 2024 | 230 QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED A+ | LATEST VERSION A dealer may advertise in which of the following manners? ------CORRECT ANSWER--- ----------d. using a color picture in the ad that is not the same color as the actual vehicle being advertised as long as the disclosure, "vehicle colors may vary" is included A dealer's advertising must contain the dealer's licensed name and/or the word(s): ------ CORRECT ANSWER-------------The dealer's name or the word "dealer" must be included in the advertisement or both name and the word "dealer" if the name appears but does not clearly reflect that the business is a dealer. The Colorado Consumer Protection Act declares bait and switch advertising to be a deceptive trade practice. Bait and switch advertising would include which of the following? ------CORRECT ANSWER-------------all of the above Three of the following are required to be disclosed when a dealer is advertising a closed-end credit sale of a motor vehicle with a down payment amount, payment amount, number of payments, period of repayment or amount of finance charge. Which one is not required? ------CORRECT ANSWER-------------a. tax rate A dealer has how many days to deliver or facilitate delivery of title from the date of sale? ------CORRECT ANSWER-------------The title or MCO must be procured by the dealer or wholesaler upon the sale and delivery of the vehicle and delivered or mailed to the purchaser or channel mortgage company within thirty (30) days pursuant to 42-6-112, C.R.S. Which of the following is not proof of ownership of a motor vehicle for a Colorado dealer? ------CORRECT ANSWER-------------a signed Monroney Label Which one of the following statements is true regarding dealer demo plates? ------ CORRECT ANSWER-------------May be displayed on vehicles for demonstration drive purposes, during normal business hours, when a dealership employee is in the vehicle with the prospective buyer. May be displayed on vehicles operated by a prospective buyer for demonstration drives. Demonstration drives by a prospective purchaser shall not exceed seven calendar days.2.12 Lost or stolen dealer plates shall be reported within seventy-two (72) hours to the local law Which of the following is true regarding dealer demo plates? ------CORRECT ANSWER- ------------dealer demo plates may be displayed only on vehicles owned by or consigned to the dealer or wholesaler Which of the following is true regarding depot plates? ------CORRECT ANSWER---------- ---A depot plate may be used by the dealership to transport vehicles to and from the dealer's place of business or storage for the purpose of completing work that involves repairing, painting, upholstering, polishing or other similar types of work on the vehicle. A depot plate may also be used for road testing the vehicle after repair. Movement of a vehicle using a depot plate for any purpose other than those listed above shall constitute private use. A new or used motor vehicle dealer may legally do which of the following with a temporary registration permit? ------CORRECT ANSWER-------------issue a permit for a demonstration drive by a consumer How many temporary permits may a dealer issue for each road worthy vehicle sold ------ CORRECT ANSWER-------------1 CO lemon law includes ------CORRECT ANSWER-------------Defects that substantially impair the market value of the vehicle motor vehicle insurance is required ------CORRECT ANSWER-------------for all registered vehicles intended for use on Colorado roads which is true regarding in-transit plates? ------CORRECT ANSWER-------------in-transit plates may be used to transport vehicles from point of purchase to point of storage or from point of storage to point of sale licensed power sport dealers may sell which of the following on Sunday ------CORRECT ANSWER-------------A powersport vehicle which of the following is a used vehicle? ------CORRECT ANSWER-------------a demo vehicle with 1300 miles Depot plates may be used during normal business hours to transport ------CORRECT ANSWER-------------all of the above Prominently and conspicuously display? ------CORRECT ANSWER-------------Buyer's guide The Motor vehicle dealer board does not have among its members ------CORRECT ANSWER-------------three employees from the dept. of revenue Which of the following must be conspicuously displayed in the dealers place of business? ------CORRECT ANSWER-------------License of dealer Salesmen Licenses Name of dealership license A dealer is not responsible for taking written action to attempt to correct a misleading as place by a manufacture if the ad contains the dealer name ------CORRECT ANSWER---- ---------false The motor vehicle department is authorized and empowered to ------CORRECT ANSWER-------------propose fees order hearings investigate An ad would NOT include ------CORRECT ANSWER-------------a salesperson's verbal statement of the MSRP When advertising terms price conditions of sale of a car, dealers may use the term ------ CORRECT ANSWER-------------Wish approved credit All motor vehicle dealers are power sport dealers must post a clear legible sign on their pace of business if ------CORRECT ANSWER-------------they will be open less than 40 hours per week Wholesalers may ------CORRECT ANSWER-------------Sell to dealers and other wholesalers The ad price of a Motor Vehicle must include ------CORRECT ANSWER-------------Dealer handling and preparation charges Motor vehicles with demo plates may be loaned to charity originations and celebrities --- ---CORRECT ANSWER-------------false A motor vehicle salesman can be personally liable for any proven claim or judgement in excess of their surety bond ------CORRECT ANSWER-------------true Which must remain in the window of a new motor vehicle until its sold to the ultimate purchaser? ------CORRECT ANSWER-------------Monroney Label A motor vehicle salesperson may work for more than 1 dealership during one year ------ CORRECT ANSWER-------------true In addition to possible dealer bond sanctions, if a dealer/salesperson uses bait and switch it is a class 2 misdemeanor with a 12 month max jailtime and 1k fine or both ------ CORRECT ANSWER-------------true The License of a motor vehicle salesperson or a power sports salesperson may be denied revoked, or suspended on any of the following grounds except: ------CORRECT ANSWER-------------Advertising a salvage vehicle while identifying the vehicle as a salvage vehicle The license of a motor vehicle salesperson or power-sports salesperson may be denied, revoked or suspended on any of the following grounds except: ------CORRECT ANSWER-------------b) advertising a salvaged vehicle while identifying the vehicle as a salvage vehicle According to colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? ------CORRECT ANSWER-------------d) All of the above Colorado Lemon law covers: ------CORRECT ANSWER-------------c)defects that substantially impair the market value of a vehicle The license of a new or used dealer, wholesale auction dealer or wholesaler may be denied suspended, revoked or fined for all of the following grounds except ------ CORRECT ANSWER-------------Employing a properly licensed salesperson The only items that can be added to an advertised price are ------CORRECT ANSWER-- -----------C) Dealer handling and preparation charges The license of a motor vehicle salesperson or a powersports salesperson may be denied, revoked, or suspended on any of the following grounds except: ------CORRECT ANSWER-------------D)using point of sale literature in advertising A buyer agent may ------CORRECT ANSWER-------------be retained or hired by a consumer to assist, represent, or act on behalf of such consumer in connection with the purchase or lease of a motor vehicle Three of the following are deceptive trade practices. Which of the following is not? ------ CORRECT ANSWER-------------Delivering goods as promised A new or used motor vehicle dealer may legally do which of the following with a temporary permit? ------CORRECT ANSWER-------------Issue a permit for a demonstration drive by a consumer Re federal cash reporting rule requires dealers to file form 83000.... ------CORRECT ANSWER-------------15 Days A new motor vehicle has three of the following characteristics. Which one doesn't it have? ------CORRECT ANSWER-------------D) a title A dealer wholesaler or salespersons convicted of any felony or any crime.. Has how many days to report conviction? ------CORRECT ANSWER-------------A ) 30 Days Three of the following are require when a dealer is advertising a lease of a a motor vehicle or powersports vehicle with a payment amount which one is not required? ------ CORRECT ANSWER-------------D) disclosing the cost of leasing versus the cost of purchasing The definition of a used mother vehicle dealer or used powersports dealer includes which of the following ? ------CORRECT ANSWER-------------A person who attempts to negotiate a sale or lease of a used motor vehicle or powersports vehicle with the intent to make a profit or gain A customer's trade- in vehicle on a financed deal may be sold ------CORRECT ANSWER-------------D) only when the financing has been approved Wholesalers : ------CORRECT ANSWER-------------C)must use a name other than their personal name on all business documents A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business ------CORRECT ANSWER------------- False The license of a motor vehicle salesperson or a powersports salesperson may be denied, revoked or suspended on the following grounds ------CORRECT ANSWER------- ------D) all of the above A dealer must take in the title in their own name before selling a car to retail customer -- ----CORRECT ANSWER-------------B) False A salesperson can change dealerships during the licensing year provided that the correct form and fee is submitted to the board such sales person may begin work as a motor vehicle salespersons or powersports salesperson while awaiting a new license from the board ------CORRECT ANSWER-------------B) False Records of vehicles transfers and odometer statements must be retained for: ------ CORRECT ANSWER-------------C) 5 year Motor vehicle dealers, powersport dealers, used motor vehicle dealers, used powersports dealers or wholesalers are not required to report to the dealer board ------ CORRECT ANSWER-------------B) any change in the hours of operation of the business when the business continues full time (review) Which of the following would indicate a motor vehicle is "used" ------CORRECT ANSWER-------------A certificate of title has been issued A motor vehicle dealer is responsible for : ------CORRECT ANSWER-------------D) all of the above An advertisement would include ------CORRECT ANSWER-------------D) all of the above The license of a new or used dealer, wholesale auction dealer, or wholesaler may be denied, suspended revoked or fined for the following ------CORRECT ANSWER----------- --D) all of the above Which of the following is a deceptive trade practice? ------CORRECT ANSWER------------ -D) All of the above are deceptive trade practices Demonstration plates can be displayed on vehicles that are used by the dealership for any commercial purpose ------CORRECT ANSWER-------------true Motor vehicle salespersons are required to have a surety bond in the amount of? ------ CORRECT ANSWER-------------$15,000 Selling ___ or more vehicles or offering for sale more than ___ vehicles at the same address or telephone number in any one calendar year, shall be prima facie evidence that ------CORRECT ANSWER-------------A person is engaged in the business of selling motor vehicles. The definition of a used motor vehicle dealer includes which of the following? ------ CORRECT ANSWER-------------"Used motor vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars. Wholesalers may: ------CORRECT ANSWER-------------make a profit or gain selling to dealers and wholesalers Three of the following are characteristics of an off-premise permit. Which one is not? ---- --CORRECT ANSWER-------------the permit could be used for a permanent second location All motor vehicle dealers and used motor vehicle dealers must be open ------CORRECT ANSWER-------------a. a minimum of 12 hours per week Hours of operation posted and opened at least 3 days per week for a continuous four hours per day between 8 AM and 9 PM. the license of a motor vehicle salesperson may be denied, revoked, or suspended on the following grounds except: ------CORRECT ANSWER-------------advertising a salvaged vehicle that identifies that vehicle as a salvage vehicle The license of a motor vehicle salesperson may be denied, revoked, or suspended on the following grounds except: ------CORRECT ANSWER-------------not having a valid Colorado drivers license The license of a motor vehicle salesperson may be denied, revoked, or suspended on the following grounds except ------CORRECT ANSWER-------------to engage as a licensee without having in force a good and sufficient bond with corporate surety A dealer, wholesaler or salesperson who is convicted of any felony or any criminal pursuant to Article 3, 4 or 5 of Title 18, C.R.S. (felony or criminal misdemeanor) or like crime pursuant to federal law or law of any other state has _____ days to give the Dealer Board written notice of such conviction? ------CORRECT ANSWER-------------30 days after such conviction When a salesperson voluntarily leaves or is discharged from a dealership, the dealer must immediately return that salesperson's _________ to the Dealer Board. ------ CORRECT ANSWER-------------motor vehicle dealer or used motor vehicle dealer who last employed the salesperson shall confiscate and return such salesperson's license to the board A salesperson can change dealerships during the licensing year provided that a Change of Employer Notification form is submitted to the Board. It is unlawful for such sales person to act as a motor vehicle salesperson until a new _________ is procured. ------ CORRECT ANSWER-------------It shall be unlawful for such salesperson to act as a motor vehicle salesperson until a new license is procured. A new motor vehicle has three of the following characteristics. Which one doesn't it have? ------CORRECT ANSWER-------------motor vehicle that is titled Which of the following would always indicate a motor vehicle is used? ------CORRECT ANSWER-------------a vehicle that is titled Since 1985, the Federal Trade Commission's Used Car Rule has required that dealers prominently and conspicuously display the __________________ on every used car or light truck offered for sale. This is also known as the "as is" sticker. ------CORRECT ANSWER-------------Buyers Guide Which of the following must be identified in advertising? ------CORRECT ANSWER------- ------all of the above The only items that can be added to an advertised price are: ------CORRECT ANSWER- ------------none of the above The advertise price of a motor vehicle must include: ------CORRECT ANSWER------------ -Answer- Finance Charge Advertisement of rate of finance charge. If an advertisement states a rate of finance charge, it shall state the rate as an "annual percentage rate," using that term. If the annual percentage rate may be increased after consummation, the advertisement shall state that fact. If an advertisement is for credit not secured by a dwelling, the advertisement shall not state any other rate, except that a simple annual rate or periodic rate that is applied to an unpaid balance may be stated in conjunction with, but not more conspicuously than, the annual percentage rate. If an advertisement is for credit secured by a dwelling, the advertisement shall not state any other rate, except that a simple annual rate that is applied to an unpaid balance may be stated in conjunction with, but not more conspicuously than, the annual percentage rate. Advertisement of terms that require additional disclosures - Triggering terms. If any of the following terms is set forth in an advertisement, the advertisement shall meet the requirements of paragraph (d)(2) of this section: (i) The amount or percentage of any downpayment. (ii) The number of payments or period of repayment. (iii) The amount of any payment. ------CORRECT ANSWER-------------"used motor vehicle" is defined as any motor vehicle which has been sold, bargained, exchanged, given away, or the title thereto transferred from the person who first took title thereto from the manufacturer or importer, dealer or agent of the manufacturer or importer, or so used as to have become what is commonly known as a "secondhand motor vehicle"." In the event of transfer on the certificate of origin, from the original franchised dealer to any other dealer or individual other than a franchised dealer of the same make of vehicle, the vehicle shall be considered a "used" motor vehicle, and must be titled in the new owner's name. Vehicles with more Than Fifteen Hundred (1500) miles of demonstration use shall be considered used' vehicles. Such "demonstrators" and other motor vehicles 3 Auto Industry DivisionStudy Guide- Motor Vehicle Regulations REGULATION 12-6-102(13) which have been used by a dealer prior to their sale shall be titled in the dealer's name and sold as "used" motor vehicles. an off premises permit: ------CORRECT ANSWER-------------Right Answer- must be readily available for inspection at the sale motor vehicle dealer may sell motor vehicles at special sales events, shows, or other organized events, including, for example, at the National Western Stock Show, the Colorado State Fair, the Greeley Stampede, or the Denver Auto Show. In order to sell motor vehicles at a location away from the dealership, a motor vehicle dealer must apply for the appropriate off-premise permit. A motor vehicle dealer must not engage in any sales activity at an off-premise location until the board approves the appropriate off-premise permit. The board recognizes two classes of off-premise permit based upon specific sales- related conditions and restrictions. These are: Class One --- a Limited Sales Activity Off-premise Permit. The following conditions and restrictions apply to this permit: Licensed salespersons or owners authorized to sell must be present at the off- premise location at all times when the public is present; and, Licensed salespersons or owners authorized to sell may negotiate the terms of a sale at the off-premise location; and, 4 3) b.1) 2) Auto Industry DivisionStudy Guide- Motor Vehicle Regulations The parties shall not execute sales-related documents at the off-premise location, but must return to the dealership to execute any sales-related documents. Class Two --- a Full Sales Activity Off-premise Permit. The following conditions and restrictions apply to this permit: Licensed salespersons or owners authorized to sell must be present at the off- premise location at all times when the public is present; and, Licensed salespersons or owners authorized to sell may negotiate the terms of a sale at the off-premise location; and, 3) The parties may execute sales documents at the off-premise location. 4. The board issues an off-premise permit for a restri Which of the following persons are required by federal law, to adhere to the Truth in Mileage Act? ------CORRECT ANSWER-------------all the above A customer's trade-in on a financed deal may be sold ------CORRECT ANSWER---------- ---only when the financing as been approved (II) (III) (b) (2) Accepts a used vehicle as a trade-in on the purchase or lease of a motor vehicle, used motor vehicle, powersports vehicle, or used powersports vehicle and sells or leases the vehicle that has been traded in before the purchaser or lessee has been approved for a consumer credit transaction as defined in section 5-1-301 (12) if the approval is a condition of the purchase or lease; if a motor vehicle salesperson selling primarily vehicles 1,500 lbs or more is found guilty of a violation of law by the Motor Vehicle Board they may recieve: ------CORRECT ANSWER-------------A fine up to $10,000 that shall not exceed ten thousand dollars for each separate offense by any licensee, or vacate the fine imposed by the judge or hearing officer; except that, for powersports vehicle dealers who sell primarily vehicles that weigh under one thousand five hundred pounds, the fine for each separate offense shall not exceed one thousand dollars; and ------CORRECT ANSWER-------------1) The amount of cash is more than $10,000 2) The business receives the cash as: 1) The establishment receives the cash in the ordinary course of a trade or business 2) The same agent or buyer provides the cash3) The business receives the cash in a single transaction or in related transactions Example: Dave bought a new car and sold his old one for $11,000. The buyer paid Dave in cash. Since Dave is not in the trade or business of selling cars, he would not be required to report the receipt of cash exceeding $10,000 from the sale of the car. Example: Jane operates a jewelry store in Puerto Rico and received payment in cash on a sale of jewelry for $12,000. She will need to report the transaction on a Form 8300. In general, a person engaged in a motor vehicle leasing companies and powersport vehicle leasing companies are required by Colorado law to be licensed as a motor vehicle dealers and powersports dealers ------CORRECT ANSWER-------------Answer- True All manufacturers doing business in the state of Colorado, irrespective of whether they maintain or have places of business herein, must be licensed as such. The sale of any new and unused motor vehicles, either directly or indirectly in the state of Colorado shall constitute doing business in the state by the manufacturer and shall subject such manufacturer to the requirements of this article. A new or used motor vehicle dealer may legally do which of the following with a temporary registration permit? ------CORRECT ANSWER-------------Cannot find in study guides or online... educated guess. issue a permit upon the sale of a motor vehicle to another dealer? Temporary Registration Permit is valid for up to sixty (60) days from the date of sale/issuance sentenced to any felony or any crime pursuant to article 3, 4, or 5 of title 18, C.R.S., or like crime pursuant to federal law or the law of any other state, must give the board written notice of such conviction within thirty days after such conviction. ------CORRECT ANSWER-------------A dealer may issue a second temporary registration number plate in accordance with this subsection (3) if the dealer: (I) Has issued a temporary plate to the owner when selling the motor vehicle to the owner; (II) Has not delivered or facilitated the delivery of the certificate of title to the purchaser or the holder of a chattel mortgage as required in section 42-6-112 or 42-6-119 (3) within sixty days after the motor vehicle was purchased; and (III) Has taken every reasonable action necessary to deliver or facilitate the delivery of the certificate of title. Which of the following is an example of a used motor vehicle ------CORRECT ANSWER-------------Right Answer- A lease vehicle "Used motor vehicle" means every self-propelled motor vehicle having a gross weight of less than sixteen thousand pounds that has been sold, bargained for, exchanged, given away, leased, loaned, or driven as a "company executive car" or the title to which has been transferred from the person who first acquired it from the manufacturer or importer and it is so used as to have become what is commonly known as "secondhand" within the ordinary meaning thereof. A previously untitled motor vehicle that has been driven by the dealer for more than one thousand five hundred miles, excluding mileage incurred in the transit of the motor vehicle from the manufacturer to the dealer or from another dealer to the dealer, shall be considered a "used motor vehicle". This shall not apply to any automobile manufactured before January 1, 1942. (9) "Used motor vehicle dealer" means any licensed motor vehicle dealer, used motor vehicle dealer, or wholesaler as defined by section 12-6- 102. ------CORRECT ANSWER-------------It is unlawful for any person to advertise for sale, to sell, to use, or to install or to have installed any device which causes an odometer to register any mileage other than the true mileage driven. For purposes of this section, the true mileage driven is that mileage driven by the vehicle as registered by the odometer within the manufacturer's designed tolerance. (2) It is unlawful for any person or the person's agent to disconnect, reset, or alter the odometer of any motor vehicle with the intent to change the number of miles indicated thereon. (3) It is unlawful for any person, with the intent to defraud, to operate a motor vehicle on any street or highway knowing that the odometer of such vehicle is disconnected or nonfunctional. (4) Nothing in this part 2 shall prevent the service, repair, or replacement of an odometer, if the mileage indicated thereon remains the same as before the service, repair, or replacement. When the odometer is incapable of registering the same mileage as before such service, repair, or replacement, the odometer shall be adjusted to read zero, and a notice in writing shall be attached to the left door frame of the vehicle by the owner or the owner's agent specifying the mileage prior to repair or replacement of the odometer and the date on which it was repaired or replaced. Any removal or alteration of such notice so affixed is unlawful. 23 Auto Industry Division Study Guide- Miscellaneous Statutes & Regulations (5) It is unlawful for any transferor to fail to comply with 49 U.S.C. sec. 32705 and any rule concerning odometer disclosure requirements or to knowingly give a false statement to a transferee in making any disclosure required by such law. A dealer has how many days to deliver or facilitate delivery of title from the date of sale - -----CORRECT ANSWER-------------A dealer of motor or off-highway vehicles shall, within thirty days after the sale, deliver or facilitate the delivery of the certificate of title to a purchaser or the holder of a chattel mortgage on the motor or offhighway vehicle subject to section 42-6-109. full use dealer plates can be displayed on all vehicles owned and offered for sale by dealer or wholesaler, except those that are used on tow vehicles or parts delivery/pickup vehicles ------CORRECT ANSWER-------------Right Answer- False An application for a full-use dealer plate may be submitted by a motor vehicle dealer or wholesaler who: (A) Has sold more than twenty-five motor vehicles in the twelve-month period preceding application; (B) Purchases an existing motor vehicle dealership or wholesale business that has sold more than twenty-five vehicles during the twelve- month period preceding application; or(C) Obtains a license to operate a new or used motor vehicle dealership or wholesale business with an inventory of fifty or more motor vehicles. (II) Full-use dealer plates may be used in lieu of, in the same manner as, and to the same extent as number plates issued pursuant to section 42-3-201. 29 Auto Industry Division Study Guide- Miscellaneous Statutes & Regulations (b) (I) The department shall issue full-use dealer plates upon payment of the fee specified in subparagraph (II) of this paragraph (b) and upon application of a motor vehicle dealer or wholesaler accompanied by satisfactory evidence that the applicant is entitled to the plate in accordance with the criteria established in subparagraph (I) of paragraph (a) of this subsection (6). (II) The annual fee for full-use dealer plates shall be established and adjusted annually by the department based on the average of specific ownership taxes and registration fees paid for passenger vehicles and light duty trucks that are seven model years old or newer and that were registered during the one-year period preceding January 1 of each year. Such annual fee shall be prorated on a monthly basis. The annual fee for full-use dealer plates for motorcycles shall be established and adjusted annually by the department based on the average of specific ownership taxes and registration fees paid for motorcycles that are seven model years old or newer and that were registered during th A customers trade-in vehicle on a financed deal may be sold ------CORRECT ANSWER- ------------Only when the financing has been approved Accepts a used vehicle as a trade-in on the purchase or lease of a motor vehicle, used motor vehicle, powersports vehicle, or used powersports vehicle and sells or leases the vehicle that has been traded in before the purchaser or lessee has been approved for a consumer credit transaction as defined in section 5-1-301 (12) if the approval is a condition of the purchase or lease; Which of the following steps are required to porperly and legally repossess a motor vehicle ------CORRECT ANSWER-------------allow the debtor 20 days to cure If a mortgagee, lienholder, or the mortgagee's or lienholder's assignee or the agent of either repossesses a motor or off-highway vehicle because of default in the terms of a secured debt, the repossessor shall notify, either orally or in writing, a law enforcement agency, as provided in this section, of the repossession, the name of the owner, the name of the repossessor, and the name of the mortgagee, lienholder, or assignee. The notification must be made at least one hour before, if possible, and in any event no later than one hour after, the repossession occurs. If the repossession takes place in an incorporated city or town, the repossessor shall notify the police department, town marshal, or other local law enforcement agency of the city or town. If the repossession takes place in the unincorporated area of a county, the repossessor shall notify the county sheriff. (2) A repossessor who violates subsection (1) of this section is guilty of a class 2 misdemeanor and, upon conviction, shall be punished as provided in section 18- 1.3-501, C.R.S. (3) If a motor or off-highway vehicle being repossessed is subject to the "Uniform Commercial Code - Secured Transactions", article 9 of title 4, C.R.S., the repossession is governed by section 4-9- 629, C.R.S. (4) As used in this section, the term "repossessor" means the party who physically takes possession of the motor or off-highway vehicle and drives, tows, or transports the vehicle for delivery to the mortgagee, lienholder, or assignee or the agent of the mortgagee, lienholder, or assignee. ------CORRECT ANSWER-------------With respect to a consumer credit transaction, after a consumer has been in default for ten days for failure to make a required payment and has not voluntarily surrendered possession of goods or the mobile home that are The motor vehicle dealer board is authorized and empowered to: ------CORRECT ANSWER-------------All the above The board is authorized and empowered: (a) To promulgate, amend, and repeal rules reasonably necessary to implement this part 1, including the administration, enforcement, issuance, and denial of licenses to motor vehicle dealers, motor vehicle salespersons, used motor vehicle dealers, wholesale motor vehicle auction dealers, and wholesalers, and the laws of the state of Colorado; (a.5) To delegate to the board's executive secretary, employed pursuant to section 12-6-105 (2)(b), the authority to execute all actions within the power of the board, carry out the directives of the board, and make recommendations to the board on all matters within the authority of the board; (a.7) To issue through the department of revenue a temporary license to any person applying for any license issued by the board. The temporary license shall permit the applicant to operate for a period not to exceed one hundred twenty days while the board is completing its investigation and determination of all facts relative to the qualifications of the applicant for such license. A temporary license is terminated when the applicant's license is issued or denied. (b)&(c) (Deleted by amendment, L. 92, p. 1842, § 4, effective July 1, 1992.) (d) (I) To issue through the department of revenue and, for reasonable cause shown or upon satisfactory proof of the unfitness of the applicant under standards established and set forth in this part 1, to refuse to issue to any applicant any license the board is authorized to issue by this part 1; 9 Auto Industry Division Study Guide- Motor Vehicle Statutes (II) To permit the executive director or the director to issue licenses pursuant to rules adopted by the board pursuant to subsection (3)(a) of this section; (e) (I) After due notice and a hearing, to review the findings of an administrative law j ------CORRECT ANSWER-------------The board and the executive director shall prescribe the form of the license to be issued by the executive director and shall imprint on each license the seal of their offices. The executive director shall mail the license to the business address where the motor vehicle salesperson is licensed. Each motor vehicle salesperson shall keep a copy of the license at the salesperson's place of employment for inspection by employers, consumers, the director, the executive director, or the board. Each motor vehicle dealer, manufacturer, distributor, wholesaler, manufacturer representative, wholesale motor vehicle auction dealer, or used motor vehicle dealer shall display conspicuously each person's license at the place of business for which the license was issued New and used motor vehicle dealers, powersports dealer, wholesalers and wholesale auction dealers are required to have a surety bond ------CORRECT ANSWER------------- Answer- in the amount of $50,000 Bond of licensee (1) Before any motor vehicle dealer's, wholesaler's, wholesale motor vehicle auction dealer's, or used motor vehicle dealer's license shall be issued by the board through the executive director to any applicant therefor, the said applicant shall procure and file with the board evidence of a savings account, deposit, or certificate of deposit meeting the requirements of section 11-35- 101, C.R.S., or a good and sufficient bond with corporate surety thereon duly licensed to do business within the state, approved as to form by the attorney general of the state, and conditioned that said applicant shall not practice fraud, make any fraudulent representation, or violate any of the provisions of this part 1 that are designated by the board by rule in the conduct of the business for which such applicant is licensed. A motor vehicle dealer or used motor vehicle dealer shall not be required to furnish an additional bond, savings account, deposit, or certificate of deposit under this section if such dealer furnishes a bond, savings account, deposit, or certificate of deposit under section 12-6-512. (2) (a) The purpose of the bond procured by the applicant pursuant to subsection (1) of this section and section 12-6-112.2 (1) is to provide for the reimbursement for any loss or damage suffered by any retail consumer caused by violation of this part 1 by a motor vehicle dealer, used motor vehicle dealer, wholesale motor vehicle auction dealer, or wholesaler. For a wholesale transaction, the bond is available to each party to the transaction; except that, if a retail consumer is involved, such consumer shall have priority to recover from the bond. The amount of the bond shall be fifty thousand dollars for a motor vehicle dealer applicant, used motor vehicle dealer applicant, wholesa ------CORRECT ANSWER-------------Motor vehicle salesperson's bond (1) Before any motor vehicle salesperson's license is issued by the board through the executive director to any applicant therefor, the applicant shall procure and file with the board evidence of a savings account, deposit, or certificate of deposit meeting the requirements of section 11- 35-101, C.R.S., or a good and sufficient bond in the amount of fifteen thousand dollars Which of the following is a requirement for a motor vehicle dealers, powersport dealer, used motor vehicle dealers, used powersport dealers, or wholesaler? ------CORRECT ANSWER-------------For sure its To submit to the dealer board a written notice a licensee changed the trade name of the business, but it is also to report when a licensee The board, through the executive director, shall not issue a motor vehicle dealer's license or used motor vehicle dealer's license to any applicant therefor who has no principal place of business as is defined in this part 1. Should the motor vehicle dealer or used motor vehicle dealer change the site or location of such dealer's principal place of business, such dealer shall immediately upon making such change so notify the board in writing, and thereupon a new license shall be granted for the unexpired portion of the term of such license at a fee established pursuant to section 12-6-110. Should a motor vehicle dealer or used motor vehicle dealer, for any reason whatsoever, cease to possess a principal place of business, as defined in this part 1, from and on which such dealer conducts the business for which such dealer is licensed, such dealer shall immediately so notify in writing the board and, upon demand therefor by the board, shall deliver to it such dealer's license, which shall be held and retained until it appears to the board that such licensee again possesses a principal place of business; whereupon, such dealer's license shall be reissued. Nothing in this part 1 shall be construed to prevent a motor vehicle dealer or used motor vehicle dealer from conducting the business for which such dealer is licensed at one or more sites or locations not contiguous to such dealer's principal place of business but operated and maintained in conjunction therewith. (2) (a) If a motor vehicle dealer changes to a new line-make of motor vehicles, adds another franchise for the sale of new motor vehicles, or cancels or, for any cause whatever, otherwise loses a franchise fo The License of a motor vehicle salesperson or a power sports salesperson may be denied revoked, or suspended on any of the following grounds except: ------CORRECT ANSWER-------------All the above - Right Answer Wrong answers -Employing an unlicensed sales person - failing to perform, either intentionally or negligently, any written agreement with any buyer or seller - representing or selling as "new" any motor vehicle that the dealer knows is a used motor vehicle 12-6-118 Licenses- grounds for denial, suspension, or revocation A motor vehicle dealer's, wholesale motor vehicle auction dealer's, wholesaler's, buyer agent's, or used motor vehicle dealer's license may be denied, suspended, or revoked on the following grounds: (a) (Deleted by amendment, L. 92, p. 1857, § 20, effective July 1, 1992.) (b) Material misstatement in an application for a license; (c) Violation of any of the terms and provisions of this part 1 or any rule or regulation promulgated by the board under this part 1; (d) Having been convicted of or pled nolo contendere to any felony, or any crime pursuant to article 3, 4, or 5 of title 18, C.R.S., or any like crime pursuant to federal law or the law of any other state. A certified copy of the judgment of conviction by a court of competent jurisdiction shall be conclusive evidence of such conviction in any hearing held pursuant to this article. (e) Defrauding any buyer, seller, motor vehicle salesperson, or financial institution to such person's damage; 29 Auto Industry Division Study Guide- Motor Vehicle Statutes (f) Intentional or negligent failure must return to the dealership to execute any sales-related documents. b. Class Two --- a Full Sales Activity Off-premise Permit. The following conditions and restrictions apply to this permit: 1) Licensed salespersons or owners authorized to sell must be present at the offpremise location at all times when the public is present; and, 2) Licensed salespersons or owners authorized to sell may negotiate the terms of a sale at the off- premise location; and, 3) The parties may execute sales documents ------CORRECT ANSWER-------------No person may hold both a wholesaler license and a motor vehicle salesperson license at the same time. A wholesaler may not employ a motor vehicle salesperson. For discussion of profit or gain, see Regulation 12-6-102 (13). Wholesalers shall use a name other than their personal name on all business documents for the purchase and sale of motor vehicles to differentiate between a wholesaler and a private party. A dealer's advertising must contain the dealer's licensed name /or the words ------ CORRECT ANSWER-------------An applicant for a license issued by the board must complete and submit the appropriate application form. The board shall reject for filing any application that is defective in any one or more of the following ways: a) the application is not accompanied by a remittance in the full amount of the fee for the specific license; and, b) the application does not include a copy of the required bond in the correct amount. The board may reject for filing any application that does not completely satisfy the requirements of the application form and its instructions. 2. An applicant whose license application has been accepted for filing must respond to every request for additional information within the time allowed and in the manner required by the requestor. 3. An applicant must include with an application the full name of, date of birth of, current residence address for, and other required identifying information related to each natural person who possesses one or more of the following characteristics: a. an ownership, financial, or equity interest in the applicant; or, b. an ability to control the applicant or to exercise significant financial or operational influence over the applicant. 8 Auto Industry Division Study Guide- Motor Vehicle Regulations An applicant that is subject to the reporting requirements of the "Securities Exchange Act of 1934," as amended, 15 U.S.C. § 78a et seq., need not include the identifying information in this paragraph 3 for any stockholder. 4. All information submitted to the board, by application for license or otherwise, shall be given fully, faithfully, truthfully and fairly. The failure of an applicant or licensee to so inform the board shall be grounds for suspension, revocation or denial of the license. 5. The board may deny a license for any one of or any combination of the following reaso ------CORRECT ANSWER-------------Dealers, wholesalers, wholesale auction dealers, officers, directors or stockholders of corporations owning five per-cent or more, licensed as such, who are convicted of or pled nolo contendere or a plea in a deferred judgment and sentence to any felony or any crime pursuant to Article 3, 4, or 5 of Title 18, C.R.S., or like crime pursuant to federal law or the law of any other state, shall provide to the board written notice of such conviction within thirty days after receiving such conviction. The licensee shall provide complete information including copies of such conviction and pre-sentence reports within thirty days of the conviction ------CORRECT ANSWER-------------Prior to the signing of the Contract, the Seller shall produce a written document disclosing all known Material Particulars. Both the Seller and Buyer must sign the document. The document is deemed to be part of the Contract. A signed copy of the Contract and the disclosure document shall be provided to the Buyer at the time of sale. The Seller shall retain a copy of the Contract and the disclosure document. C. "AS IS" STATEMENT A statement by the Seller to the Buyer that a vehicle is sold "as-is" does not relieve the Seller of the disclosure obligations imposed by this regulation, nor does it relieve the Seller of any other disclosure obligations otherwise required by state or federal law. An "as-is" statement solely disclaims implied warranties under provisions of the "Colorado Uniform Commercial Code," Title 4, C.R.S ------CORRECT ANSWER-------------All motor vehicle dealers and all used motor vehicle dealers must be open for business at least three (3) days per week for a continuous period of time not less than four (4) hours per day between the hours of 8 a.m. and 9 p.m. Any dealership open less than forty (40) hours a week must post a clear and legible sign on its place of business indicating the days and hours that it is open for business. In addition such dealerships shall notify the Board in writing of any subsequent change in such periods of time. Any dealership which will not be open for business for a period of at least two (2) weeks must post a clear and legible sign on its place of business indicating this fact as well as notifying the Board in writing of such fact. ------CORRECT ANSWER-------------Salespersons who change employment during their license year shall notify the Auto Industry Division, on the form prescribed by the Board, of the identity of the new employer prior to commencing employment at the new dealership. 2. Upon the submission of the notification, acknowledged by the new employing dealer, the salesperson may begin working as a salesperson at the new employing dealership. 3. After receipt of notification, the Auto Industry Division shall issue a new license to the salesperson for the remainder of the license term. 4. Any salesperson who fails to provide timely notification may be subject to disciplinary action. ------CORRECT ANSWER-------------"Powersports vehicle dealer" means a person who, for commission or with intent to make a profit or gain of money or other thing of value, sells, leases, exchanges, rents with option to purchase, offers, or attempts to negotiate a sale, lease, or exchange of an interest in new or new 4 Auto Industry Division Study Guide- Powersports Statutes and used powersports vehicles or who is engaged wholly or in part in the business of selling or leasing new or new and used powersports vehicles, whether or not the powersports vehicles are owned by such person. The sale or lease of ten or more new or new and used powersports vehicles or the offering for sale or lease of more than ten new or new and used powersports vehicles at the same address or telephone number in any one calendar year shall be prima facie evidence that a person is engaged in the business of selling or leasing new or new and used powersports vehicles. "Powersports vehicle dealer" includes an owner of real property who allows more than ten new or new and used powersports vehicles to be offered for sale or lease on such property during one calendar year unless said property is leased to a licensed powersports vehicle dealer. "Powersports vehicle dealer" does not include: (a) Receivers, trustees, administrators, executors, guardians, or other persons appointed by or acting under the judgment or order of any court; (b) Public officers while performing their official duties; (c) Employees of persons enumerated in the definition of "powersports vehicle dealer" when engaged in the specific performance of their duties as such employees; (d) A wholesaler or anyone selling powersports vehicles solely to wholesalers; or (e) A wholesale motor vehicle auctioneer ------CORRECT ANSWER-------------Material Particulars include but are not limited to any of the following: 1. Year and make of the powersports vehicle, and, if known to the Seller, the historical mileage or hours of operation of the vehicle. 2. Complete replacement of the engine, drivetrain, or chassis. 3. Repair or replacement of skis or tracks. 4. The powersports vehicle is a "Salvage vehicle" as that term is defined in the Colorado "Certificate of Title Act," part 1 of article 6 of title 42, C.R.S. 5. The powersports vehicle has sustained damage, whether repaired or not repaired, of the following types: a. Frame or unibody damage of any grade or type; or b. Flood, fire or hail damage; or c. Accident or collision damage. 6. The powersports vehicle has been modified in a way that impacts warranty coverage. 7. The powersports vehicle had been declared a "total loss" by an insurance company. 8. The powersports vehicle had been stolen. 9. The powersports vehicle had been used as a police vehicle, vehicle for hire, rental vehicle, or a loaner or courtesy vehicle, if such use is clearly ascertainable from a title brand, from information obtained from a prior owner, from a Vehicle Identification Number (VIN), from a State-issued Identification Number, or from any other source. 10. The powersports vehicle had been put to a use or had been altered in such a way that a reasonable person would consider unusual or extraordinary, such as use as a racing vehicle. Service, repair, and replacement (a) Adjusting Mileage. —A person may service, repair, or replace an odometer of a motor vehicle if the mileage registered by the odometer remains the same as before the service, repair, or replacement. If the mileage cannot remain the same— (1) the person shall adjust the odometer to read zero; and (2) the owner of the vehicle or agent of the owner shall attach a written notice to the left door frame of the vehicle specifying the mileage before the service, repair, or replacement and the date of the service, repair, or replacement. (b) Removing or Altering Notice. — A person may not, with intent to defraud, remove or alter a notice attached to a motor vehicle as required by this section. 29 Auto Industry Division Study Guide- Federal Statutes & Regulations 32705 - Disclosure requirements on transfer of motor vehicles (a) (1) Disclosure Requirements. —Under regulations prescribed by the Secretary of Transportation that include the way in which information is disclosed and retained under this section, a person transferring ownership of a motor vehicle shall give the transferee the following written disclosure: (A) Disclosure of the cumulative mileage registered on the odometer. (B) Disclosure that the actual mileage is unknown, if the transferor knows that the odometer reading is different from the number of miles the vehicle has actually traveled. (2) A person transferring ownership of a motor vehicle may not violate a regulation prescribed under this section or give a false statement to the transferee in making the disclosure required by such a regulation. (3) A person acquiring a motor vehicle for resale may not accept a written disclosure under this section unless it is complete. (4) (A) This subsection shall apply to all transfers ------CORRECT ANSWER-------------All the above - Right Answer Wrong answers Dealers and distributors of motor vehicles who are required by this part to execute an odometer disclosure statement shall retain for five years a photostat, carbon or other facsimile copy of each odometer mileage statement which they issue and receive. They shall retain all odometer disclosure statements at their primary place of business in an order that is appropriate to business requirements and that permits systematic retrieval. (b) Lessors shall retain, for five years following the date they transfer ownership of the leased vehicle, each odometer disclosure statement which they receive from a lessee. They shall retain all odometer disclosure statements at their primary place of business in an order that is appropriate to business requirements and that permits systematic retrieval. (c) Dealers and distributors of motor vehicles who are granted a power of attorney by their transferor pursuant to § 580.13, or by their transferee pursuant to § 580.14, shall retain for five years a photostat, carbon, or other facsimile copy of each power of attorney that they receive. They shall retain all powers of attorney at their primary place of business in an order that is appropriate to business requirements and that permits systematic retrieval. ------CORRECT ANSWER-------------All the above - Right Answer Wrong answers Notwithstanding the requirements of §§ 580.5 and 580.7: (a) A transferor or a lessee of any of the following motor vehicles need not disclose the vehicle's odometer mileage: (1) A vehicle having a Gross Vehicle Weight Rating, as defined in § 571.3 of this title, of more than 16,000 pounds; (2) A vehicle that is not self-propelled; (3) A vehicle that was manufactured in a model year beginning at least ten years before January 1 of the calendar year in which the transfer occurs; or Example to paragraph (a)(3): For vehicle transfers occurring during calendar year 1998, model year 1988 or older vehicles are exempt. (4) A vehicle sold directly by the manufacturer to any agency of the United States in conformity with contractual specifications. (b) A transferor of a new vehicle prior to its first transfer for purposes other than resale need not disclose the vehicle's odometer mileage. (c) A lessor of any of the vehicles listed in paragraph (a) of this section need not notify the lessee of any of these vehicles of the disclosure requirements of § 580.7. Depot Plates may be used on motor vehicles: ------CORRECT ANSWER-------------Not able to find so educated guess... But - Right Answer All the above Wrong answers -Depot Plates transferred from point of purchase to the dealers lot -depot plates may be used by a dealer to road test a vehicle after repair - which help deliver a purchased vehicle to a consumer Where I can find the word------------ A Dealer can obtain one Depot License Plate per mechanic or service technician employed by the Dealer. Upon application or renewal, the owner or authorized representative of the Dealer must certify the number of mechanics or service technicians currently employed by the Dealer. r. Such plates may, during the registration period for which they were issued, be transferred from one such vehicle to another when owned and operated by or with the authority of such manufacturer or representative of such manufacturer or operated by such drive-away or tow-away transporter or dealer Any dealer in motor vehicles, trailers, or semitrailers may operate, move, or transport a vehicle owned by such dealer on the streets and highways of this state without registering such vehicle and without an attached numbered plate if there is displayed on such vehicle a depot tag Which of the following is true about Colorado's Lemon Law ------CORRECT ANSWER--- ----------can't find in any of the guides... educated guess Right Answer- Prior to suing the manufactory the consumer for refund or replacement vehicle, the consumer must first send a written notice of defect by certified mail to the manufacture. Colorado's lemon law covers any defect or condition that substantially impairs the vehicle's use and market value. The law calls such a defect or condition a "nonconformity." The law does not cover any nonconformity caused by the consumer abusing, neglecting, or making unauthorized modifications of the vehicle. The manufacturer must be allowed a reasonable number of attempts to fix any nonconformity reported to them by the consumer. The Colorado lemon law defines a "reasonable number of attempts" as four or more times for the same problem without success, or if the vehicle is in the shop for 30 days or more without successfully repairing the problem. Defects, such as rattles or squeaks, which do not substantially impair the use or market value of the vehicle are not covered. Neither are defects resulting from abuse, neglect, or unauthorized modifications or alterations of the vehicle by a consumer Prior to suing a manufacturer for a refund or replacement vehicle, the consumer must first send a written notice of defect by certified mail to the manufacturer. The consumer must give them a chance to repair the vehicle and go through the manufacturer's informal dispute settlement procedure, if one exists. https://www.allenstewart.com/lemon-laws-by-state/colorado-lemon-law/ All the above A new motor vehicle has three of the following characteristics. Which one doesn;t it have? ------CORRECT ANSWER-------------Right Answer- A title Licensed motor vehicle dealers may: ------CORRECT ANSWER-------------sell motor vehicles thre days a week, so long as they are open at least 4 continuous hours per day between 9 Am and 9 PM. Colorado Lemon Law Cover's: ------CORRECT ANSWER-------------answer- defects that substantially impair the market value of the vehicle Colorado's lemon law covers any defect or condition that substantially impairs the vehicle's use and market value. The law calls such a defect or condition a "nonconformity." The law does not cover any nonconformity caused by the consumer abusing, neglecting, or making unauthorized modifications of the vehicle. The manufacturer must be allowed a reasonable number of attempts to fix any nonconformity reported to them by the consumer. The Colorado lemon law defines a "reasonable number of attempts" as four or more times for the same problem without success, or if the vehicle is in the shop for 30 days or more without successfully repairing the problem. Defects, such as rattles or squeaks, which do not substantially impair the use or market value of the vehicle are not covered. Neither are defects resulting from abuse, neglect, or unauthorized modifications or alterations of the vehicle by a consumer Prior to suing a manufacturer for a refund or replacement vehicle, the consumer must first send a written notice of defect by certified mail to the manufacturer. The consumer must give them a chance to repair the vehicle and go through the manufacturer's informal dispute settlement procedure, if one exists. A dealer is not responsible for taking written action to attempt to correct a misleading ad placed by a monufacturerr if the ad contains the dealers name ------CORRECT ANSWER-------------false which of the following is a rtue statement regaurding dealers and buyers ------ CORRECT ANSWER-------------a dealer shall indicate on the customer contract when a vehicle is sold, "as-is", and without a guarantee which of the following are deceptive trade practices ------CORRECT ANSWER------------- all the above Which of the following is true about dealer demo plates ------CORRECT ANSWER-------- -----a demo plate may be used on a commercial vehicle owned by the ownership an advertisement would not include ------CORRECT ANSWER-------------a salespersons verbal statement of the manufactor's suggested retail price local law enforcement must be notified with ______ hour before or after the repossession of a motor vehicle occurs ------CORRECT ANSWER-------------1 Advertising may include any commerical message in any newspaper, magazine, flyer, on radio, television, or public address system, computer display, or window display which is delivered or made aviable for a customer or prospect customer in any manner what so ever. ------CORRECT ANSWER-------------false... can't be any manner right??? dealers must either be self insura=ed ir have insurance for their vehicles ------ CORRECT ANSWER-------------false Three of the following are required when a dealer is advertising a lease of a motor vehicle or powersports vehicle with a payment amount. Which on is not required? ------ CORRECT ANSWER-------------disclosing the cost of a leasing versus the cost of purchasing records of vehicle transfers and odometer statements must be related for ________ years ------CORRECT ANSWER-------------5 wholesalers ------CORRECT ANSWER-------------Answer- Wholesalers shall use a name other than their personal name on all business documents for the purchase and sale of motor vehicles" Wholesaler" means a person who, for commission or with intent to make a profit or gain of money or other thing of value, sells, exchanges, or offers or attempts to negotiate a sale, lease, or exchange of an interest in new or new and used motor vehicles solely to motor vehicle dealers or used motor vehicle dealers. No person may hold both a wholesaler license and a motor vehicle salesperson license at the same time. wholesaler may not employ a motor vehicle salesperson. licensed powersport dealers may sell powersports on Sundays ------CORRECT ANSWER-------------False When advertising the sale of a specific motor vehicle. If not statement has been made concerning a specific-time and of the advertised price, such vehicle shall be sold at the advertised price for a period of fice days following the last date the ad was published ---- --CORRECT ANSWER-------------True? When a salesperson leaves a dealer, the dealer must do all the following execpt: ------ CORRECT ANSWER-------------Immediately employ a new salesperson, licensed or not Which of the following is considered prima facie evidence that a person is engaged in the business of setting of leasing motor vehicles or powersport vehicles ------CORRECT ANSWER-------------selling, leasing, exchanging, renting, with option to purchase, offering, or negotiating, an exchange of interest in three or more vehicles or ten or more powersport vehicles in any one calendar year What is the highest fine per offense (key word) that the motor vehicle dealer board or an admirative law judge may impose on a dealer who sells primarily vehicles that weigh less than 1,500 pounds ------CORRECT ANSWER-------------$1,000 according to COlorado law, which of the following does not need to be a licenses as a motor vehicle dealer and/or powersports dealer? ------CORRECT ANSWER-------------a buyers agent Licensed salespersons cannot obtain a buyer agent license because they receive compensation from a dealer. Buyer agents are strictly prohibited from being employed or receiving any fee from a dealer. a dealer must take the title in their own name before selling a car to a retail customer --- ---CORRECT ANSWER-------------Unsure... False A "used motor vehicle" is defined as any motor vehicle which has been sold, bargained, exchanged, given away, or the title thereto transferred from the person who first took title thereto from the manufacturer or importer, dealer or agent of the manufacturer or importer, or so used as to have become what is commonly known as a "secondhand motor vehicle"." In the event of transfer on the certificate of origin, from the original franchised dealer to any other dealer or individual other than a franchised dealer of the same make of vehicle, the vehicle shall be considered a "used" motor vehicle, and must be titled in the new owner's name. Vehicles with more Than Fifteen Hundred (1500) miles of demonstration use shall be considered used' vehicles. Such "demonstrators" and other motor vehicles 3 Auto Industry Division Study Guide- Motor Vehicle Regulations which have been used by a dealer prior to their sale shall be titled in the dealer's name and sold as "used" motor vehicles. All vehicles which do not qualify as "new" motor vehicles shall be deemed to be "used" motor vehicles for the purpose of administration of this Act. ------CORRECT ANSWER-------------1 "Depot License Plates" or "Depot Tags" - means a numbered plate issued by the department authorizing the movement of dealership vehicles to and from the dealer's place of business or storage for the purpose of completing work tha ------CORRECT ANSWER-------------https://www.ftc.gov/tips-advice/business- center/guidance/answering-dealers-questions-about-revised-used-car-rule The new English-language version of the Buyers Guide adds a statement in Spanish advising Spanish-speaking consumers to ask for the Buyers Guide in Spanish if the dealer is conducting the sale in Spanish.
Docsity logo



Copyright © 2024 Ladybird Srl - Via Leonardo da Vinci 16, 10126, Torino, Italy - VAT 10816460017 - All rights reserved