COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024), Exams of Nursing

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COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Three of the following types of motor vehicles are exempt from the truth in mileage act. - Correct Answer ✅~Vehicles 10 years old or older~Vehicles having a gross empty weight more than 10,000 lbs~Vehicles not self propelled (Trailers) The definition of a used motor vehicle dealer or used 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 The Motor Vehicle Board is authorized and empowered to: - Correct Answer ✅All Of The Above~Amend and repeal rules, regulations and previsions When advertising a specific number of motor vehicles, that same number of vehicles must be invoiced to the dealer - Correct Answer ✅TRUE bait and switch is - Correct Answer ✅ad that attracts consumers with a low-priced product, then tries to sell them a higher-priced product COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Selling, Leasing, Trade-In, with option to purchase, offering or negotiating and exchange of interest in 3+ vehicles in any 1 year is prima facie evidence that a person is engaged in the business of selling or leasing motor vehicles - Correct Answer ✅TRUE By obtaining an off-premise permit, dealers may sell motor vehicles at another location on Sunday - Correct Answer ✅FALSE - NO Sale of vehicle should be done on Sundays Which of the following statements is true regarding dealer demo plates? - Correct Answer ✅a demo drive cannot exceed 7 days Colorado 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 COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Prominently and conspicuously display the ________? - Correct Answer ✅-for 60 days in a B2C sale-for 7 days in a B2B sale Motor Vehicle salesmen are required to have a surety bond in the amount of $30k - Correct Answer ✅False, $15,000 If a salesperson leaves a dealership during the licensing year and becomes employed at another dealership they must acquire a new license for the unexpired portion of their returned license from the board - Correct Answer ✅TRUE A Motor Vehicle salesperson may work for more than 1 dealership during one year - Correct Answer ✅TRUE All Motor Vehicle dealers and dealers must post a clear legible sign on their place of business if: - Correct Answer ✅they will be open less than 40 hours per week COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) A Motor vehicle salesman can be personally liable for any proven claim or judgement in excess of their surety bond - Correct Answer ✅TRUE Licensed Motor vehicle dealers - Correct Answer ✅must be open for business at least three (3)days per week for a continuous period of timenot less than four (4) hours per day between the hours of8 a.m. and 9 p.m The license of a new or used dealer/wholesale/auctioneer/ may be denied/suspended/revoked/fined for all the following except: - Correct Answer ✅attempting to negotiate the sale or lease of a Motor vehicle with intent to make profit or gain Federal odometer law declares it unlawful to do the following: - Correct Answer ✅operate Motor vehicle on any street with intent to defraud knowing the odometer is disconnected A dealer has how many days to facilitate delivery from the date of sale? - Correct Answer ✅30 Days COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Which of the following is NOT proof of ownership for a Motor Vehicle for a CO dealer? - Correct Answer ✅a vehicle subject to a lien on the title a dealers ad must contain the dealers licensed name and the words - Correct Answer ✅Dealer federal cash reporting requires dealers to file form 8300 with IRS within how many days of receiving $10,000 cash? - Correct Answer ✅15 days Wholesalers may? - Correct Answer ✅Sell to dealers and other wholesalersorMake a profit or gain selling to dealers and wholesalers The license of a Motor vehicle salesman may be revoked/suspended on the following grounds: - Correct Answer ✅Violating any of the terms and provisions The license of a Motor vehicle salesman may be revoked/suspended on all grounds EXCEPT: - Correct COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) The Motor Vehicle Dealer Board does NOT have among its members: - Correct Answer ✅The Motor Vehicle Dealer Board does NOT have among its members: A buyer agent - Correct Answer ✅is retained or hired by a consumer to assist/represent/act on behalf of such consumer in connection with the purchase of lease of a Motor vehicle Local law enforcement agencies must be notified within 4 hours after the repossession of a Motor Vehicle - Correct Answer ✅False - 1 hour The license of a new or used dealer/Wholesaler may be denied/suspended /revoked /fined for the following - Correct Answer ✅Making a material misstatement in an application of license A customer's trade-in vehicle on a financed deal may be sold - Correct Answer ✅Only when the financing has been approved and the contract binding has been signed COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Which is NOT required when advertising a closed end credit sale? - Correct Answer ✅Tax Rate Which is not a deceptive trade practice? - Correct Answer ✅Disclosing to the purchaser in writing prior to the sale that a vehicle is a salvage The Motor Vehicle dealer board may decide how large a fine to impose on a dealer who sells vehicles <1500lbs, as long as it does not exceed $5,000 - Correct Answer ✅False - $10,000 The Motor Vehicle Dealer board is authorized and empowered to - Correct Answer ✅All of the above -propose fees-order hearing-investigate the following must be conspicuously displayed in the dealers place of business? - Correct Answer ✅all of the above -license of dealer-salesmen licenses-name of dealership license COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Records of vehicle transfers and odometer statements must be kept for 5 years - Correct Answer ✅TRUE An advertisement would NOT include - Correct Answer ✅a salesperson's verbal statement of the MSRP A dealer is not responsible for taking written action to attempt to correct a misleading advertisement placed by a manufacturer if the advertisement contains the dealers name - Correct Answer ✅False Which is true of the Colorado Lemon Law? - Correct Answer ✅"a reasonable number of attempts" to repair applied when the motor vehicle has been out of service for repairs a cumulative total of 30 or more business days during the warranty term or 1 year from date of delivery When advertising terms price conditions of sale of a car, dealers may use the term: - Correct Answer ✅"With approved credit" COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Which of the following is a true statement regarding dealers and buyers? - Correct Answer ✅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 ✅True 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 motor vehicle salesperson or a powersports salesperson may be denied, revoked, or suspended on any of the following grounds except: - Correct Answer ✅using point of sale literature in advertising A new or used motor vehicle dealer may legally do which of the following with a temporary permit? - Correct Answer ✅issue a permit upon the sale of a motor vehicle to another dealer COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) A new motor vehicle has three of the following characteristics. Which one doesn't it have? - Correct Answer ✅A title A dealer wholesaler or salespersons convicted of any felony or any crime.. Has how many days to report conviction? - Correct Answer ✅30 Days 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 Wholesalers: - Correct Answer ✅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 COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) A dealer must take in the title in their own name before selling a car to a retail customer - Correct Answer ✅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 ✅False Which of the following is acceptable proof of ownership of a motor vehicle for a Colorado dealer? - Correct Answer ✅A vehicle subject to a lien on the tile Records of vehicles transfers and odometer statements must be retained for: - Correct Answer ✅5 years Which of the following would indicate a motor vehicle is used - Correct Answer ✅A certificate of title has been issued COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) Which of the following steps are require to properly and legally repossess a mother vehicle - Correct Answer ✅Effect a lien creating a security interest Which of the following motor vehicles may be sold on Sundays? - Correct Answer ✅Snowmobiles Which of the following is considered a violation of the truth in mileage act? - Correct Answer ✅upon service, repair, or replacement, resetting the odometer to zero when the odometer is incapable of registering the same mileage at the time of replacement All motor vehicle dealers and powersports dealers must be open: - Correct Answer ✅A minimum of 12 hours per week Full-use dealer plates can be displayed on all vehicles owned and offered for sale by a dealer or wholesaler, except those that are used on tow vehicles or parts delivery/pickup vehicles. - Correct Answer ✅FALSE COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) When a salesperson leaves a dealer, that dealer must return that salespersons license to the Auto Industry Division. - Correct Answer ✅False Which of the following is not true about members of the Motor Vehicle Dealer board? - Correct Answer ✅public members must have been a motor vehicle dealer Which of the following is true regarding depot plates? - Correct Answer ✅depot plates may be used by a dealer to road test a vehicle after repair Motor vehicle dealers, powersports dealers, used motor vehicle dealers, used powersports dealers, or wholesalers are not required to report to the dealer board: - Correct Answer ✅any change in the hours of operation of the business when the business continues full time Motor vehicle dealers, powersport dealers used powersports dealers or wholesalers are REQUIRED to report to the Dealer Board: - Correct Answer ✅any change in the hours of COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) operation of the business when it continues to operate full time Three of the following types of motor vehicles are exempt from the truth in mileage act. Which one is not exempt - Correct Answer ✅motor vehicles with out of state titiles The definition of a used motor 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 MV or PWSPT vehicle for profit When advertising a specific number of motor vehicles, that same number of vehicles must have been invoiced to the dealer: - Correct Answer ✅True Selling, Leasing, Exchanging, renting with option to purchase, offering or negotiating and echange of interest in 3+ vehicles or 10+pwr sprt vehicles in any 1 year is prima facie evidence that a person is engaged in the business of selling or leasing motor vehicles or powersport vehicles - Correct Answer ✅True COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) The license of a new or used dealer/wholesale/auctioner/ may be denied/suspended/revoked/fined for all the following except: - Correct Answer ✅attempting to negotiate the sale or lease of a MV with intent to make profit or gain Federal odometer law declares it unlawful to do the following: - Correct Answer ✅operate MV on any street with intent to defraud knowing the odometer is disconnected Which of the following is NOT proof of ownership for a MV for a CO dealer? - Correct Answer ✅a vehicle subject to a lien on the title fed cash reporting requires dealers to file form 8300 with IRS within how many days of receiving $10k cash? - Correct Answer ✅15 days The license of a MV or PWSPT salsesman may be revoked/suspended on the following grounds: - Correct Answer ✅All of the above COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) The license of a MV or PWSPT salesman may be revoked/suspended on all grounds EXCEPT: - Correct Answer ✅advertising a salvaged vehicle while identifying that vehicle as salvaged The ad price of a MV must include: - Correct Answer ✅dealer handling and prep charges Which must remain in the window of a new motor vehicle until its sold to the ultimate purchaser? - Correct Answer ✅Monroney label A MV dealer, wholesaler, or salesperson must give Dealer Board written notice of: - Correct Answer ✅all of the above Which is a false statement regarding dealers and buyers - Correct Answer ✅A dealer must offer a warranty on all motor vehicles sold COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) in addition to possible dealer bond sanctions, if a dealer/salesperson uses bait & switch it is a class 2 misdemeanor with 12 mo max jailtime and $1k fine or both - Correct Answer ✅TRUE What is the highest fine per offense the dealer board may impose on dealers who sell vehicles less than 1500 lbs? - Correct Answer ✅1000 The license of a MV salesperson or PWSPT may be denie/revoked/suspended on any of the following grounds except - Correct Answer ✅improperly withholding/misappropriating/converting to ones own use any money belonging to customers or any persons received in employment as a salesperson according to CO law which does NOT need to be licensed as a motor vehicle dealer? - Correct Answer ✅all of the above need to be COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) any other dealer or individual other than afranchised 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 Three of the following are required when a dealer is advertising a lease of a motorvehicle with a payment amount. Which one is not required? - Correct Answer ✅a. disclosing the cost of leasing versus the cost of purchasing. 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 beingadvertised 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 ✅Dealer Three of the following are required to be disclosed when a dealer is advertising aclosed-end credit sale of a motor vehicle with a down payment amount, payment amount,number of payments, period of repayment or amount COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) of finance charge. Which one is notrequired? - Correct Answer ✅a. tax rate Full-use dealer plates cannot be displayed on vehicles that are used by the dealershipfor any _______________ purpose - Correct Answer ✅(c) Full-use dealer plates may be used only for vehicles owned and offered for sale by thedealer or wholesaler. Full-use dealer plates shall not be used on vehicles owned by dealerships or wholesalers that are commonly used by that dealer as tow trucks or vehicles commonly used by thatdealer to pick up or deliver parts. Which of the following is true regarding dealer demo plates? - Correct Answer ✅c. dealer demo plates may be displayed only on vehicles owned by or consigned tothe dealer or wholesaler Dealer Demonstration license plates may not be displayed on vehicles that:a. Have been sold, leased, or rented, or;b. Are being delivered to the purchaser, or;c. Are dealer or dealership employees' personal vehicles, or;d. Are loaned or donated by the dealership, or;e. Are being pulled, hauled, or are otherwise considered cargo, or;f. Are tow vehicles or parts pickup/delivery vehicles COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) A new or used motor vehicle dealer may legally do which of the following with atemporary registration permit? - Correct Answer ✅A. issue a 7 day permit upon the sale of a motor vehicle to another dealer, 60 days to customer Records of vehicle transfers and odometer statements must be retained for ____years. - Correct Answer ✅5 The odometer law declares all of the following except - Correct Answer ✅b. it is unlawful to replace an odometer under any circumstance 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. Three of the following types of motor vehicles are exempt from the Truth in Mileage Act. Which one is not exempt? - Correct Answer ✅c. motor vehicles with out-of-state titles COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) It is unlawful for a motor vehicle salesperson to - Correct Answer ✅begin acting as a salesperson while awaiting a new license from the board A dealer has how many days to deliver of facilitate delivery of title from the date of sale - Correct Answer ✅30 day Licensed powersport dealers may not sell powersports on Sundays - Correct Answer ✅False Which of the following is required when a dealer is advertising a lease of a motor vehicle or a powersports vehicle with a payment amount - Correct Answer ✅disclosing that the transaction is a lease Which of the following is an example of "used" motor vehicle - Correct Answer ✅a vehicle that has been transferred from one franchised dealer to another franchised dealer selling the same make vehicle COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) A dealer may issue 3 temporary permits for each roadworthy vehicle sold - Correct Answer ✅False Among the members of the Motor Vehicle Dealer Board, how many are chosen to represent the public - Correct Answer ✅3 The Buyer's Guide must be - Correct Answer ✅All of the above copied and given to the purchaser at the time of sale provided in another language than English if the transaction is being conducted in another language than English displayed on every used car offered for sale so that both sides are easily readable New and used motor vehicle dealers, powersport dealer, wholesalers and wholesale auction dealers are required to have a surety bond - Correct Answer ✅in the amount of 50k COLORADO SALES TEST GUIDE Questions and Answers (Latest Update 2024) 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 Which of the following is punishable by a fine of up to 10l - Correct Answer ✅All of the above using bait and switch failure to displace or complete a buyer's guide removing or altering a vehicle's Monroney label A salesperson can change dealerships during the licensing year provided that a change of employer notification form and fee is submitted to the Board. It is unlawful for such a salesperson to act as a motor vehicle salesperson or power sports salesperson until a new license is procured. - Correct Answer ✅