Colorado Mastery Exam Questions With 100% Correct Answers 2024, Exams of Advanced Education

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Colorado Mastery Exam Questions With 100% Correct Answers 2024 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 Three of the following are required to be disclosed in an advertisement when a dealer is advertisement a closed end credit sale of a mother vehicle or powersports...except? - Correct Answer-d) tax rate The motor vehicle dealer board is authorized and empowered to: - Correct Answer-D)all of the above Local law enforcement officers must be notified within ___ hours before or after the repossession of a motor vehicle occurs: - Correct Answer-A)1 hours All motor vehicle dealers and power-sports dealers must post a clear, legible sign on their principal place of business if: - Correct Answer-B) they will be open less than 40 hours a week A dealer may issue a temporary permits for each roadworthy vehicle sold - Correct Answer-B) false (verify) The motor vehicle dealer board may be decide how large a fine to impose on a dealer who sells primarily vehicles that weigh 1,500 pounds or more so long as it does not exceed 5k - Correct Answer-a)True (verify) The Colorado's consumer protection act declares bait and switch advertising to be deceptive trade practice. Bait and switch advertising includes which of the following - Correct Answer-d)all of the above Three of the following types of motor vehicles are exempt from the truth in mileage act. Which one is not exempt? - Correct Answer-B)motor vehicles with out-of-state titles The motor vehicle dealer board does not have among its members - Correct Answer- c)three employees from the enforcement division What is the highest fine per offense that the motor vehicle dealer board or an administrative law judge may impose on a dealer , who sells primarily vehicles that weigh less than 1,500 pounds - Correct Answer-$1,000 Three of the following are characteristics of an off-premise permit. . Which one is not? - Correct Answer-The permit cannot exceed six days except for the national western stock show, the colorado state fair, greely stampede Which of the following is a true statement regarding dealers and buyers? - Correct Answer-B) a dealer shall clearly indicate on the costumer contract when a vehicle sold "as is" and without a guarantee When advertising a specific number of motor vehicles that same number of vehicles must have been invoiced to the dealer - Correct Answer-A)True Dealers must either be self insured or have insurance for their vehicles - Correct Answer-A)True In transit plates may be used on motor vehicles - Correct Answer-D) consigned to wholesale auction dealers for transport from point of purchase to point of storage When a salesperson leaves a dealer, that dealer must do all of the following except - Correct Answer-Immediately employ a new salesperson, licensed or not 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 Motor vehicle and powersport salespeople are required to have a surety bond in the amount of : - Correct Answer-15k$ The buyers guide or "as is" sticker must be - Correct Answer-Provided to a customer in another language than English In advertisement motor vehicle, a dealer or salesperson may - Correct Answer-Make reference "dealer cost" or "invoice price" Which of the following steps are require to properly and legally repossess a motor vehicle - Correct Answer-Effect a lien creating a security interest Which of the following motor vehicles may be sold on Sundays? - Correct Answer- C)Motor Homes The Motor Vehicle Dealer Board is authorized and empowered to: - Correct Answer- issue or deny motor vehicle dealer and salesperson licenses Dealers may be administratively fined by the Dealer Board up to what amount for each separate offense? - Correct Answer-shall not exceed 10,000 dollars for each separate offense New and used motor vehicle dealers, wholesalers and wholesale auction dealers are required to have a surety bond in the amount of ? - Correct Answer-$50,000 for Dealer/ Wholesalers 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 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