State of Colorado Sales License Test Questions and Answers (latest Update 2024), Exams of Nursing

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State of Colorado Sales License Test 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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) bait and switch is - Correct Answer ✅ad that attracts consumers with a low-priced product, then tries to sell them a higher-priced product 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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) amount - Correct Answer ✅~Amount or percentage of the down payment ~terms of repayment (car payment date) ~Annual percentage rate (interest rate of the loan) which is NOT required when advertising a lease? - Correct Answer ✅disclosing the cost of lease vs purchasing Prominently and conspicuously display the ________? - Correct Answer ✅FTC Buyer's Guide A temp registration permit may be issued: - 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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) 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 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 time not less than four (4) hours per day between the hours of8 a.m. and 9 p.m. State of Colorado Sales License Test Questions and Answers (latest Update 2024) 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 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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) What is the highest fine per offense the dealer board may impose on dealers who sell vehicles less than 1500 lbs? - Correct Answer ✅$500 The license of a Motor vehicle salesperson or PWSPT may be denied/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 Colorado law which does NOT need to be licensed as a motor vehicle dealer? - Correct Answer ✅All of the above The Motor Vehicle Dealer Board does NOT have among its members: - Correct Answer ✅Three employees from the dept. of revenue State of Colorado Sales License Test Questions and Answers (latest Update 2024) 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 Which is NOT required when advertising a closed end credit sale? - Correct Answer ✅Tax Rate State of Colorado Sales License Test Questions and Answers (latest Update 2024) 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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) According to Colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? - Correct Answer ✅All of the above Colorado Lemon law covers: - Correct Answer ✅defects that substantially impair the market value of a vehicle A dealer may issue a temporary permits for each roadworthy vehicle sold - Correct Answer ✅FALSE The Colorado consumer protection act declares bait and switch advertising to be deceptive trade practice. Bait and switch advertising includes which of the following - Correct Answer ✅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 ✅motor vehicles with out-of-state titles State of Colorado Sales License Test Questions and Answers (latest Update 2024) The motor vehicle dealer board does not have among its members - Correct Answer ✅three employees from the enforcement division 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 ✅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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) 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 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 ? - State of Colorado Sales License Test Questions and Answers (latest Update 2024) Demo plates can be displayed on vehicles that are used by the dealership for any commercial purpose - Correct Answer ✅True Which of the following does not fit the definition of a motor vehicle dealer - Correct Answer ✅someone who sells motor vehicles solely to wholesalers Depot plates may be used during normal business hours to transport a motor vehicle - Correct Answer ✅All of the above By definition an advertisement may include any commercial message on any computer display or window, display which is delivered or made available to a customer or prospective customer in any manner whatsoever - Correct Answer ✅True The federal odometer law declares that it is unlawful to do any of the following except - Correct Answer ✅to operate a motor vehicle on any street, with the intent to defraud, knowing that the odometer is disconnected State of Colorado Sales License Test Questions and Answers (latest Update 2024) Dealer demo plates may be used on motor vehicles - Correct Answer ✅properly assigned in the name of the dealership New and used motor vehicle dealers, powersports dealers, and wholesale auction dealers are required to have a surety bond - Correct Answer ✅All of the above Motor vehicle and powersport salespeople are required to have a surety bond in the amount of : - Correct Answer ✅$15,000 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 State of Colorado Sales License Test Questions and Answers (latest Update 2024) 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 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