DEALER PRACTICE TEST LATEST TEST | ALL QUESTIONS AND CORRECT ANSWERS | GRADED A+, Exams of Real Estate Management

Download DEALER PRACTICE TEST LATEST TEST | ALL QUESTIONS AND CORRECT ANSWERS | GRADED A+ and more Exams Real Estate Management in PDF only on Docsity! DEALER PRACTICE TEST LATEST TEST | ALL QUESTIONS AND CORRECT ANSWERS | GRADED A+ | VERIFIED ANSWERS | LATEST VERSION (JUST RELEASED) After September 19, 1994, all manufactured homes, when initially installed, require: ------CORRECT ANSWER---------------Installed to resist in conjunction with vertical hold, either force from horizontal wind pressuring of 15 pounds per square foot, or the design of the home, whichever is greater. Replacement of fuel, gas, burning, ovens, ranges, or clothes, dryers in Manufactured Homes: ------CORRECT ANSWER---------------Be listed for residential use, and installed in accordance with the specifications of the listing. The California health and safety code allows the replacement of few gas burning Water heaters in Manufactured Homes with: ------CORRECT ANSWER---------------New appliances not specifically listed for use in a manufactured home, provided the appliances, listed for residential use, and use according to the manufacturers installation instructions. Smoke detectors are required: ------CORRECT ANSWER---------------In sales of all Manufactured Homes. Federal law requires, with the sale of a new mobile home, or manufactured home, that, from all the height, health notice: ------CORRECT ANSWER----- ----------Be prominently displayed in the kitchen and not removed by any party, other than the ultimate consumer. Each mobile home/Manufactured Homes show have a health notice posted in a temporary location on the kitchen countertop or on an exposed cabinet which states that: ------CORRECT ANSWER---------------A. Some of the building materials use in this home emit formaldehyde. B. Reduce ventilation, resulting from energy efficiency, standards may allow for modified and other contaminants to accumulate in the indoor air. C. Higher indoor temperatures and humidity raise formaldehyde levels. D. All of the above. The health notice on the use of formaldehyde shall be removed by: ------ CORRECT ANSWER---------------Anyone after the entire sales transaction has been completed. If a dealer has made an alteration which took the mobile home out of compliance of the federal mobile home standards, and sold the mobile home, the dealer: ------CORRECT ANSWER---------------A. Has violated the federal regulations by selling a mobile home containing failure to conform to federal mobile home standards B. Maybe $1000 for each violation C. Is liable to the federal government for civil penalties D. All of the above statements are true Dealers who sell used mobile homes/Manufactured Homes and Commercial coaches, bearing the departments and insignia, which contains noncompliant, plumbing, electrical, or heating producing systems or equipment ------CORRECT ANSWER---------------May be subject to license disciplinary Action and required to correct such non-compliances. plus civil penalties, administrative service fees, and/or administrative action against the dealers license. A manufactured home manufacture, a seller manufactured home directly to a licensed general contractor when ------CORRECT ANSWER--------------- The qualifying conditions in the California health and safety codes are met. When a manufactured home subject to registration is sold or lease with an option to buy: ------CORRECT ANSWER---------------The instruction provide that the manufacturer certificate of origin be placed into escrow The purpose of registration and reporting of mobile home sales, the date of the sale is ------CORRECT ANSWER---------------Always the date the Escrow closed Purpose of registration and reporting of mobile home sales, the sales shall be deemed completed ------CORRECT ANSWER---------------All funds, other than funds for escrow fees and amounts for uninstalled or undelivered accessories, are dispersed from escrow Dealers shall, upon the sale of; ------CORRECT ANSWER---------------New or use Manufactured Homes or Commercial modulars report the sales to the department of housing and community development. Mobile homes sold to governmental agencies are; ------CORRECT ANSWER---------------Required to be registered by HCD, but are exempt from registration fees. When a dealer has repossessed a mobile home from a buyer, and the dealer plans to dispose of it on the open market, the dealer; ------ CORRECT ANSWER---------------Is required to notify the buyer of such intent, 10 days prior to sale. A buyer, whose Mobile home has been repossessed, and who has been properly notified of the dealers intent to resell the mobile home, may exercise the right to reclaim the mobile home up to the 10th day, after receiving notice; ------CORRECT ANSWER---------------A. If the correct balance is paid in full B. If collection or repossession cost incurred by the Dealer are paid in full C. If any delinquent fees are paid in full D. All of the Above are true, and may be required. A manufactured home, or commercial modular, which has been delivered to a retail purchaser and repossessed prior to being registered ------ CORRECT ANSWER---------------May only be advertised as a manufactured home or commercial modular. A sales person licensed by the department is subject to administrative action to suspend or revoke the license for: ------CORRECT ANSWER------- --------A. failing to pay over funds and properly received in the course of employment to a dealer, entitled thereto B. failing to deliver the salesperson license to the employee dealer for display, C. having all the unified court documents, and connection with the activity under authority of the health and safety code, division, 13, part 2 D. all of the above are correct A person who induces or attempts to induce any other person to buy, or exchange an interest in a manufactured home, or commercial modular, and who receives or expect to receive a commission from either the seller or purchaser of the unit is: ------CORRECT ANSWER---------------Required to possesses a valid mobile home/manufactured home or commercial coach, sales person or dealers license Which of the following is a cause for the department to suspend or revoke a license issued to a dealer ------CORRECT ANSWER---------------The employing person as sales person is not in possession of the valid, temporary permit or salesperson lawsuit, issued by the state The department may issue a temporary permit to an applicant for a salesperson license who successfully completes the states examination. The temporary permit to shall cause a period not to exceed ------CORRECT ANSWER---------------120 Days A license issued by this department to a mobile home sales person ------ CORRECT ANSWER---------------Must be delivered to the employing dealer and displayed at the dealers place of business in a place conspicuous to the public A manufactured home dealer is required to employee only those sales persons who have a valid HCD sales persons license, and must: ------ CORRECT ANSWER---------------Display the sales persons license for each employed salesperson at the dealers place of business, in a place conspicuous to the public. Every mobile home/manufactured home Or commercial coach sales person license issued by the California Department of Housing and Community The mobile home recovery fund provides that: ------CORRECT ANSWER--- ------------Either buyers or sellers of Manufactured Homes or eligible to make a claim against the fund. A person requires a license as a sales person, when he or she: ------ CORRECT ANSWER---------------Exercises managerial control of the business office and the salespersons of the license dealer. Regarding a 90 day certificate holder, a dealer may employee in established place of business: ------CORRECT ANSWER---------------No more than three certificate persons at a time. A 90 day certificate issued to an applicant for a salesperson license: ------ CORRECT ANSWER---------------May not be renewed. It is unlawful for any person to act as a mobile home sales person without having first procure a license or temporary permit issued by this Department, or when: ------CORRECT ANSWER---------------A. The license or temporary permit has expired. B. The license or temporary permit has been canceled. C. The license or temporary permit has been suspended or revoked. D. All of the above are true and correct. A licensed salesperson, who is employed by two mobile home, or manufactured, home, or commercial, Coach dealers, whose ownership structure is not identical: ------CORRECT ANSWER---------------Is in violation of the law, the department may take administrative actions against the salesperson to obtain revocation or suspension of the license. A dealer license by the department of housing and community development may sell a mobile home/manufactured home or commercial. Coach, which is to be installed on a permanent foundation system, and: ------CORRECT ANSWER---------------May not be involved as a licensed dealer in the subsequent resale of the unit The legislature has enacted by statute, continuing education departments which require or provide that ------CORRECT ANSWER---------------24 hours of an approved education, course are required for the first license renewal period subsequent to the issuance of the license. The legislator has determined that in the public interest for consumer protection, that the following licenses must comply with continent, education requirements: ------CORRECT ANSWER--------------- Manufactured, housing dealer, and sales agent. A mobile home dealer or salesperson fails to complete the required continuing education on or before the expiration of the respective license. What is the status of the licensee if all fees have been paid to the department. ------CORRECT ANSWER---------------The dealer or salesperson license is automatically suspended In addition to the preliminary education and application requirements, the California health and safety code requires that an applicant for a dealers license: ------CORRECT ANSWER---------------A. Is required to have at least one years experience as a licensed sales person B. Is required to have at least 30 semester units from an accredited college or university C. Either a or B is correct D. Neither a or B is correct A licensed issued to a mobile home dealer by this department: ------ CORRECT ANSWER---------------Must be posted in a place conspicuous to the public at the dealers established place of business, for which the license is issued. A person operating as a dealer of both mobile homes/manufactured homes and recreational vehicles is required to: ------CORRECT ANSWER------------ ---Be licensed by the department of housing and community development and the department of motor vehicles. A dealer may display a new model mobile home with a mobile home park provided; ------CORRECT ANSWER---------------A. Each mobile home displays a sign or device, identifying the dealer in the dealers established place of business address. B. Each mobile home displays a label with the manufacturer suggested retail price price, the price of any extra construction features and materials, the total price, and whether or not the price includes tires, Tobar, wheels, and axles. C. The display unit cannot be used as an establish place of business. D. All of the above are correct A dealer may display mobile homes at a fair, exposition, or similar exhibit: - -----CORRECT ANSWER---------------Provided that each displayed mobile home displays a sign, advising the dealers name and established place of business, and that the event is not limited to one dealer. The department may refuse to issue issue a dealer license to any applicant who ------CORRECT ANSWER---------------A. All of the below are correct. B Was previously the holder of a license, which was revoked, and never re- issued, and the terms of the Suspension have not been fulfilled. Any licensee advertising, a manufactured, home, mobile home, or commercial Coach that was used in his business as a lot Mobile or Office: - -----CORRECT ANSWER---------------Must Clearly disclosed the previous use in an advertisement, and to all prospective purchasers. Mobile home/manufactured home advertisements, including the phrase "no finance charges" are: ------CORRECT ANSWER---------------Permitted, if there are no fees or charges to the purchaser for establishing the financing on a payment basis. A dealer, after the sale of a mobile home/manufactured home or commercial. Coach must: ------CORRECT ANSWER---------------Withdraw any advertisement for the manufactured home or commercial modular within 48 hours of the sale A manufactured home may be sold as new ------CORRECT ANSWER------- --------If it has never been sold to a retail purchaser or registered. Any advertisement by a dealer for a manufactured home or commercial modular must include: ------CORRECT ANSWER---------------A. The serial number or federal label number or insignia of approval number. B. The dealers name, manufacturers, name, or model name C. Both of the above. Any advertisement by dealer for manufacture home must include: ------ CORRECT ANSWER---------------The manufactured home serial number The advertise credit terms for manufactured home or commercial modular available for the purchase on a time payment plan: ------CORRECT ANSWER---------------Finance disclosures must be in compliance with regulation Z truth-in-lending requirements. In addition to other remedies provided in the health and safety code, the department may issue a citation which accesses a civil penalty to a licensee in the state of a manufactured home for all of the following except: ------CORRECT ANSWER---------------Failure to list the serial number of a manufactured home in newspaper advertisement. A dealer advertising, a new manufactured home, or commercial modular in a newspaper: ------CORRECT ANSWER---------------She sell the advertise unit at or below the advertise price, irrespective of whether or not the advertise price has been communicated to the purchaser Dealer displaying models which contain features, items, or Material, no longer available from the manufacturer: ------CORRECT ANSWER------------ ---Must inform the buyer whose ordered home will be based on a display model of the display features, items, or materials, which are no longer available. Advertisements, claiming discounts on new manufactured homes: ------ CORRECT ANSWER---------------Must be limited to the difference between the dealers advertise selling price for cash, and the manufacturer suggested retail price. With respect to Advertising, Manufactured Homes, or Commercial modulars, it is unlawful, and therefore grounds for licensing action, to make a misleading statement through: ------CORRECT ANSWER---------------A. Advertisement and newspapers, shopper guides, flyers, or other publications. B. Verbal communication, including statements, made by sales persons C. Public broadcasting. D. Any manner or means whatsoever, thus all of the above The licensee shall Not advertise in a newspaper, the amount of the down payment and/or deposit required to purchase a manufactured home, unless it is clearly identified as being a down payment or deposit: ------CORRECT ANSWER---------------In type size, not less than half the size in which the amount of the down payment or deposit is stated. Unless an advertisement states that an advertise price in terms are good only for a specific time, and that time has elapsed, The dealer shall willingly show and sell the advertise unit at the price, in terms, specifically advertise: ------CORRECT ANSWER---------------Until the unit is sold. The licensee shall not advertise any merchandise, services, or products, as free with the purchase of a mobile home/manufactured home or commercial Coach: ------CORRECT ANSWER---------------When the free items are covered by a fee to be charged as part of the transaction. A mobile home that has been delivered to a retail purchaser then repossess prior to being registered may be advertised: ------CORRECT ANSWER---------------As a used mobile home. In what code is the law found that requires warranty for all new mobile homes/manufactured homes. ------CORRECT ANSWER--------------- California civil code The California civil code requires that a written warranty be provided for ---- --CORRECT ANSWER---------------All new mobile homes/Manufactured Homes The California civic requires the mobile home/manufactured home warranty to cover: ------CORRECT ANSWER---------------A. The structural, plumbing, heating, and electrical systems B. Appliances C. Any equipment installed and included there in by the manufacturer or dealer. D. All of the above are correct Unless sold by the retailer are sold "as is" or "with all faults," all goods must be accompanied by: ------CORRECT ANSWER---------------An applied warranty of merchantability Under what conditions can the purchaser of a new manufactured home wave his or her rights to a manufactured home warranty? ------CORRECT ANSWER---------------Under no conditions In a transaction for sale, lease, or exchange of a manufactured home, fax known to the licensee, that material affect the value or desirability of the home: ------CORRECT ANSWER---------------Shall be disclosed when the dealer or salesperson has reason to believe that such facts are not readily observable by a perspective, purchaser, or Leasee An oral or written agreement between the dealer, and the purchaser of a new manufactured home, which requires a purchaser to waive his/Her right to a warranty, provisions of the California civil code: ------CORRECT ANSWER---------------Contrary to the public policy, and shall be unenforceable and void Upon the cell of a manufactured home, subject to the federal, mobile home, standards when manufactured, the purchaser information card is required to be: ------CORRECT ANSWER---------------Completed and returned to the manufacture by the dealer upon seller, the manufactured home to a purchaser. When a dealer sells a mobile home/manufactured home, bearing a HUD label, and no longer has available a purchase information card, federal regulations require the dealer to: ------CORRECT ANSWER--------------- Obtain the information which the card would require and send it to the manufacture of the mobile home/manufactured home in an appropriate format. The primary responsibility of defects and appliances with the new mobile home rest with: ------CORRECT ANSWER---------------The mobile home manufacture, and the selling dealer. The primary responsibility for the correction of defects in appliances provided with the new mobile home/manufacturer home rest with: ------ CORRECT ANSWER---------------The mobile home/manufactured home manufacturer, and the selling dealer. When a dealer has possession of a new mobile home, which contains a failure to conform to the federal mobile home, standards, the dealer, as the provided by the federal regulation shall: ------CORRECT ANSWER------------ ---Correct the failure to conform as authorized by the manufacturer, and maintain a complete record of the corrective work taken. When a dealer receives a complaint from a purchaser, which indicates the possible Existence of a failure to conform to the federal mobile home, standard act, federal regulations require the dealer to: ------CORRECT ANSWER---------------Refer the matter to the manufacture of the mobile home When a dealer has notified a manufacturer of the existence of a failure to conform between a mobile home Yet to be sold to a purchaser, the manufacturer Has provided, unsatisfactory, corrective action, the dealership: ------CORRECT ANSWER---------------Notify the California Department of housing and community development or HUD. The manufactured home warranty, required by the California civil code: ----- -CORRECT ANSWER---------------A. Is enforceable with respect to initial purchaser only. B. Can be transferred from initial partner to his Aur transfer provided the department inspection is performed. C. Can be transferred upon MUTUAL consent of warranty documents by the selling dealer and subsequent purchaser. D. None of the above are correct Every sale of consumer goods that are sold at retail, by a retailer, when the retailer has reason to know the buyers purpose for the goods, and the buyer is relying on the retailer, skilled to select suitable goods, such good Shelby, accompany by: ------CORRECT ANSWER---------------An implied warranty of FITNESS When you goods are sold by retailer, the implied warranty of the merchant ability may not be waived, unless a statement is conspicuously attached to In the cell of a 17 year old mobile home, located in a mobile home park: ---- --CORRECT ANSWER---------------Prior to the close of escrow, a statement signed by the purchase, or shall be delivered into escrow, indicating that the purchaser has read the rules and regulations of the park. If a purchaser is to assume an existing loan on a mobile home or manufactured home, offered for sale by a dealer: ------CORRECT ANSWER---------------A dealer must deliver into escrow documents, executed by the legal owner consenting to the assumption by the purchaser. Concur. With the receipt of the purchasers deposit for purchase of a manufactured home, it is required. ------CORRECT ANSWER--------------- That a mutual endorse receipt for the deposit and purchase documents Are executed. If a dealer Is also licensed as a real estate broker: ------CORRECT ANSWER---------------The sale of a mobile home/manufactured home being installed on a foundation system pursuant of health code and safety code, section 18551, may be included in the purchase document for the underlying real property. The sale of a new mobile Home/Manufactured home includes accessories to be installed by persons under contract with the dealer: ------CORRECT ANSWER---------------All funds for the accessories, and their installation must be placed into escrow. An escrow account must be established upon the sale of a mobile home or manufactured home by: ------CORRECT ANSWER---------------Both new and used mobile homes/manufactured home dealers upon MUTUAL endorsement of the purchase documents by the buyer or dealers. In the sale of used mobile home, the Escrow Officer has to have: ------ CORRECT ANSWER---------------A. Copies of the current registration cards. B. Copies of the registration cards held by Junior lienholders. C. Original certificate of title. D. All of the above are correct Upon the opening of an escrow concerning the sale of a used mobile home, and upon notification that the buyers offer has been accepted, the escrow agent must within three working days, notified: ------CORRECT ANSWER---------------Department of housing and community development, HCD. For every sale by a dealer of a used mobile home/manufactured home: ----- -CORRECT ANSWER---------------The dealership present, the buyers offer to the seller on proper forms with the buyers signature The escrow company may release funds which have been specifically designated for mobile home/manufactured home, accessory under the following conditions: ------CORRECT ANSWER---------------When the accessory is actually installed. A Mobile home/manufactured home dealers establish an escrow account: - -----CORRECT ANSWER---------------With an escrow company in which the dealer has no more than 5% ownership Interest. The escrow instructions must identify fixed amount of deposits, down payment, and balance, due consistent with: ------CORRECT ANSWER------- --------The purchase documents and receipt for deposit Cash or cash equivalent received by a manufactured home dealer for a buyer prior to delivery as a whole or partial payment for manufactured home is required to be deposited into an escrow account. Which of the following must be placed into escrow? ------CORRECT ANSWER-------------- -A. Cash, checks, money, orders, or drafts. B. Promissory notes, bills of sale, or certificates of ownership. C. Treasury, bills, or notes. D. All of the above A buyer of a manufactured home obligates himself to purchase a home from a dealer, and the dealer knows that the Byron tends to get third-party financing without the dealers help, the buyer fails obtained Such financing within 30 days: ------CORRECT ANSWER---------------The contract shall be deemed rescinded in all monies, except Escrow fees shall be returned to the buyer. Escrow will extend: ------CORRECT ANSWER---------------For a period, mutually agreed-upon in writing, or as extended by mutual consent, and not to the escrow agent. How Soon, following the receipt of deposit must a dealer placed the deposit into escrow ------CORRECT ANSWER---------------Within five working days, one being the day of receipt. In the case of a new manufactured home, requiring dealers installation, when may disbursement be made from the escrow account. ------ ANSWER---------------Disperse all Disputed funds to the buyer, except funds designated as deposit and for the escrow fees. The California health and safety code, sales and escrow provision that require a dealer to establish an escrow account and deposit any cash or Cash, equivalent, as a deposit, or down payment into the account, at any time prior to the close of escrow: ------CORRECT ANSWER--------------- Applies to sales or leases with the option to buy a new or amuse Manufactured Homes subject to registration. Escrow may be canceled: ------CORRECT ANSWER---------------By mutual agreement of the dealer and the purchaser. Anyone who violates any provision of the federal, mobile home construction safety standards act in this state, shall be liable to the state for civil penalties of, but not to exceed ------CORRECT ANSWER---------------$1000 for each violation, not to exceed 1 million. Fraud is best defined as which of the following: ------CORRECT ANSWER-- -------------A. Misrepresentation B. A promise not made honestly, and in good faith. C. Both A and B are correct. Fraud and deceit committed by a licensee are grounds for licensed revocation and criminal penalties may also apply. Fraud and deceit include the following: ------CORRECT ANSWER---------------A. Misrepresentation in any manner, whether intentional false, or due to gross negligence. B. Any intentional failure to disclose a material fact. C. Both A and B are correct For the purpose of enforcing the regulations and laws, governing the sale of manufacturing homes, the department may: ------CORRECT ANSWER--- ------------A. Inspector dealers, manufactured home inventory B. Inspected dealers business records. C. Inspect books and papers relating to Manufactured Homes sales. D. All of the above are correct Department may assess civil penalties to a licensed dealer and salesperson for certain violations of the California health and safety code. The amount of civil penalty shall be: ------CORRECT ANSWER--------------- $100 For each violation, but shall be increased to $250 for each subsequent violation of the same type committed within one year. When a licensee repeats a violation A type in which a citation plus certain penalties have been issued by the department. ------CORRECT ANSWER-- -------------May issue a citation plus a civil penalty of $250. Willful violation of the regulations adopted by the department, Manufactured Homes escrow, Advertising, warranty, or alterations, made by the dealer or salesperson: ------CORRECT ANSWER---------------Result in suspension of The license issued to the dealer or the salesperson by the department. When the dealer fails to notify the department of the sale or lease of a manufactured home, or commercial modular: ------CORRECT ANSWER---- -----------A. The department may assess administrative service fees, in addition to the required registration fees. B. A citation for a civil penalty for $100 may be assessed by the department in addition to their administrative service fees and registration fees. C. Both A and B are correct A licensed sales person who is employed by two manufactured homes, or commercial modular dealers, whose owners ship structure is not identical colon ------CORRECT ANSWER---------------Is in violation of law, and the department may take administrative action against the salesperson, in order to obtain revocation or suspension of a license. Manufactured home or commercial Coach dealer may solicit or obtain listings, engage in multiple listings or engaged in payments: ------ CORRECT ANSWER---------------With other licensed manufactured homes and commercial modular dealers for the sale of used manufactured homes or commercial modular. Dealer salesperson negotiate a listing agreement for the sale of manufactured home, which has been titled by the department ------ CORRECT ANSWER---------------At a location, other than the established place of business. It is unlawful for dealer to offer for sale, rent, or lease within this state, a new manufactured home, or commercial modular, whose manufacturer: ---- --CORRECT ANSWER---------------A. Is not located within California. B. Is not licensed by the US Department of housing in urban development. C. Is not licensed by the California Department of housing and community development. D. All of the above are correct. A Salesperson licensed by this department is subject to administrative action, in order to suspend or revoke the license for: ------CORRECT ANSWER---------------A. Failing to pay over funds or property, received in the course of employment to a dealer entitled thereto. B. Subject to license disciplining action, including revocation, suspension, or probation. C. Subject to a civil suit. D. All of the above are correct Pharmacy of written request, the department may disclose to any member of the public the following license status information: ------CORRECT ANSWER---------------A. Names of principles and offices held. B. Date the license expired, or was terminated, and the reason for termination. C. Both A and B are correct. If a manufactured home dealer or salesperson change the year model listed on the certificate of origin or manufacture, identification documents, it is: ------CORRECT ANSWER---------------A violation of law, and a cause for administrative action by this department, to suspend or revoke the license issued to such dealer or salesforce. In addition to other remedies provided in the health and safety code, the department may issue a citation, which assesses a civil penalty, to a licensee in the sale of a manufactured home, for all of the following, except: ------CORRECT ANSWER---------------Failure to list the serial number for each mobile home in the advertisements. The amount of the commission on the sale of a manufactured home: ------ CORRECT ANSWER---------------Must be disclosed to the seller. The seller of a used Manufactured Homes shall: ------CORRECT ANSWER---------------Upon the acceptance of the buyers offered to purchase, the seller shall sign and date the form. What was my skull? Concerning a manufactured home located in a Mobile home park that will remain in the mobile home park, after the sale, which of the following must the licensee disclosed to any perspective purchasers ------CORRECT ANSWER---------------The manufactured home may have to be removed from the mobile home park according to section 798.73 of the civil code For sale by a dealer of a used, manufactured home: ------CORRECT ANSWER---------------The dealership present, the buyers offer to the seller on the proper forms with the buyers signature. The dealer may obtain listings to some manufactured homes and enter into multiple listing agreements with: ------CORRECT ANSWER---------------With real estate broker and agents, licensed by HCD and other dealers license by HDC for the sale of Manufactured Homes. AFTER SEPTEMBER 19, 1994, ALL MANUFACTURED HOMES, WHEN INITIALLY INSTALLED, OR SUBSEQUENTLY REINSTALLED ON DIFFERENT LOTS: ------CORRECT ANSWER---------------A. SHALL NOT BE SUBJECT TO TIE DOWN REQUIREMENTS IF THE MANUFACTURED HOME IS LOCATED ON PRIVATE PROPERTY. B. MAY OBTAIN AN EXEMPTION FROM THE TIEDOWN REQUIREMENTS FROM THE DEPARTMENT, PROVIDED THE MANUFACTURED HOME WAS ORIGINALLY BUILT TO WITHSTAND WIND PRESSURE OF GREATER THAN 40 POUNDS PER SQUARE FOOT. C. NEITHER A NOR B ARE CORRECT. For the purpose of enforcing the regulations and laws, governing the sale of Manufactured Homes, and Commercial modulars, the department may: - -----CORRECT ANSWER---------------A. Inspector dealers manufactured home or commercial modular inventory without giving advance notice. B. Inspector dealers business records at any time during the business day. C. Inspect books and papers related to the manufactured home or commercial modular of sales. D. All of the above are correct. A new manufactured home, or commercial modular may be altered by the dealer: ------CORRECT ANSWER---------------With the approval of the department of housing and community development. The dealer may display a new model, manufactured home within a mobile home park provided: ------CORRECT ANSWER---------------A. Manufactured home displays a sign or device identifying The dealer and the dealers established place of business address. B. Each manufactured home displays a label with the manufacture, suggested retail price, the price of any construction features and material, the total price, and whether the price includes tires, towbars, and wheels and axles. C. May only be equipped and use as a display home, and may not be used as an established place of business. D. All of the above are correct. The ownership, registration, and title, to a manufactured home, or commercial modular may be held; ------CORRECT ANSWER---------------A. By two more co-owners tennis in common B. By two of our co-owners as joint tenants C As community property D. All of the above are correct Selling mobile homes/manufacture, homes, or commercial coaches, dealers show, use and submit to the department, numbered report of sale forms, issued by the department, and; ------CORRECT ANSWER-------------- -Provide copies to both the purchaser and assessor of the county of situs When selling a manufactured, home or commercial modular, a dealer is required to pay to the department within 10 days from the date of sale, all fees for registration and transfer of the unit. Failure to report in a timely manner, may result in; ------CORRECT ANSWER---------------Assessment of administration, service fees, and/or Administrative action against the dealer license. The registration card to a mobile home/manufactured home is issued to the registered owner. The certificate of title is issued to; ------CORRECT ANSWER---------------The legal owner. After the sale of a new mobile home/manufactured home that will remain in the mobile home park. After the sale, the dealer must; ------CORRECT ANSWER---------------Notify the assessor of the county where the manufactured home is to be installed within 10 days following the date of sale. When the dealer sells a new manufactured home for other than occupancy as a residence; ------CORRECT ANSWER---------------The full sales price to the customer is subject to sales tax. New manufactured homes, and commercial modular sold with the intent of being installed on a permanent foundation will be; ------CORRECT ANSWER---------------Subject to property taxation, but not subject to annual department of housing and community development registration. The following sales of new manufactured homes are exempt from sales, and use tax by statute; ------CORRECT ANSWER---------------A. Sales to the United States government B. Sales, Delivery, and Title passage to Indians, living on Indian reservations. C. Sales of interstate commerce. D. All of the above are exempt Manufactured home, and commercial modular dealers are required to register with the state board of equalization for sellers permit; ------ CORRECT ANSWER---------------Upon notification by the department of housing and community development, that the dealer is a retailer under the provision of revenue and taxation code. A dealer selling used mobile homes/manufactured homes may use an approved value guide, and determining the amount, subject to tax; ------ CORRECT ANSWER---------------In a true brokerage agreement between the dealer and the seller. As a dealer, you discover you have collected too much tax from a purchaser. What do you do? ------CORRECT ANSWER---------------Notify the purchaser to apply for a refund from the state board of equalization, BOE. The dealer is the retail-consumer of the following items when sold with a manufactured home, and is therefore subject to tax of 75% of his purchase price, except for; ------CORRECT ANSWER---------------Furniture When selling a new mobile home, for which of the following does a dealer charge and collect sales tax on 100% of the retail selling price ------ CORRECT ANSWER---------------Furniture When a dealer sells and affixes accessories, or other items as permanent improvements to land, or to a mobile home/manufactured home, which rest on a permanent foundation; ------CORRECT ANSWER---------------The dealer is a construction contractor under the sales and use tax regulations. A dealer qualifies as a retail customer, and is afforded the Special tax treatment on the sale of a new manufactured home, which he sells for occupancy; ------CORRECT ANSWER---------------As a residence only As a retailer, a dealer receives a tax, exemption credit when; ------ CORRECT ANSWER---------------The unit is to be used by a state or federal department The sale and use tax law provides an exemption for sales and use tax for certain sales of used mobile homes/manufactured homes when they are; -- ----CORRECT ANSWER---------------Subject to local property taxation A new manufactured home is sold, and is not going to be used as a residence, which of the following would it affect? ------CORRECT ANSWER---------------Board of equalization, BOE