California Dealer License Test 2024-2025. Questions & Correct, Verified Answers. Grade A+, Exams of Business Systems

Download California Dealer License Test 2024-2025. Questions & Correct, Verified Answers. Grade A+ and more Exams Business Systems in PDF only on Docsity! California Dealer License Test 2024- 2025. Questions and Correct, Verified Answers. Graded A+ A conditional Sales Contract contains which of the following? a. Must be signed by both buyer and seller b. Terms of financing must be disclosed C. All of the above - ANSC. All of the above A dealer may obtain a branch location outside his established place of business. How many display places for vehicles does he need to maintain branch location. a. 4 b. 5 c. 2 - ANSc. 2 After a hearing, the department May revoke and/or suspend a dealers license if they have a. Wrote the department a check with insufficient funds at the bank b. knowingly permits someone to illegally use their special plates c. fall asleep or wrong information on the registration of a vehicle d. All of the above - ANSd. All of the above All deals negotiated in Spanish require the dealer to provide a spanish language contract. a. True B. False - ANSa. True An unwind usually results from the dealer's failure to obtain financing for the customer from a lending institution. a. True b. False - ANSA. true Every Dealer must notify DMV of the effective day of change of ownership: a. 10 days prior to effective date b. Within 5 days prior to effective date c. Within 15 days d. Within 20 days - ANSa. 10 days prior to effective date Every Dealer must notify DMV of the effective day of the change of location: a. Immediately b. Within 5 days c. Within 10 days d. Within 20 days - ANSa. Immediately How many days does the dealer to report to the DMV the employment or termination of an employee? a. 10 days b. 5 days c. 15 days d. 20 days - ANSa. 10 days How many days does used vehicle dealer have to CLEAR APPLICATION to the department from the date of sale? a. 20 b. 30 c. 50 d. 60 - ANSc. 50 How many days does used vehicle dealer have to COMPLETE APPLICATION complete application to the department from the date of sale? a. 50 b. 30 c. 60 d. 20 - ANSb. 30 How much is the bond that the dealer must have prior to the issuance of its Dealer License? a. $10,000 b. $50,000 c. $15,000 d. $20,000 - ANSb. $50,000 If the Board of Equalization revokes or suspends your Seller's Permit, what is the result? a. Cancellation of Dealer's License b. Automatic Revocation of Seller's Permit c. Revocation or suspension of the Dealer's License - ANSa. Cancellation of Dealer's License If the mileage exceed the mechanical function of the odometer and goes over 100,000 miles, this means that the odometer cannot register the actual mileage. You must: a. Reset it b. Replace it c. Leave it and sell it with the vehicle "As Is" d. You must disclose this with the purchaser - ANSd. You must disclose this with the purchaser If the purchaser overpays the dealer an amount for the licensing or transfer of the title of vehicle other than actual amount due, the dealer may: