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A comprehensive set of questions and answers covering various aspects of motor vehicle dealer regulations in colorado. It delves into licensing requirements, dealer responsibilities, advertising guidelines, consumer protection laws, and vehicle ownership procedures. Valuable insights into the legal framework governing motor vehicle sales in colorado, making it a useful resource for individuals seeking to understand the industry's regulations.
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The Motor Vehicle Dealer Board is authorized and empowered to: - โโโissue or deny motor vehicle dealer and salesperson licenses he Motor Vehicle Dealer Board is authorized and empowered to: - โโโd. all of the above Dealers may be administratively fined by the Dealer Board up to what amount foreach separate offense? - โโโshall not exceed ten thousand dollars for each separate offense New and used motor vehicle dealers, wholesalers and wholesale auction dealers arerequired to have a surety bond in the amount of? - โโโ$50,000 for Dealer/Wholesaler Motor vehicle salespersons are required to have a surety bond in the amount of? - โโโ$15, Selling ___ or more vehicles or offering for sale more than ___ vehicles at the sameaddress or telephone number in any one calendar year, shall be prima facie evidence that - โโโA person is engaged in the business of selling motor vehicles. The definition of a used motor vehicle dealer includes which of the following? - โโโ"Used motor vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars. Wholesalers may: - โโโmake a profit or gain selling to dealers and wholesalers Three of the following are characteristics of an off-premise permit. Which one isnot? - โโโthe permit could be used for a permanent second location All motor vehicle dealers and used motor vehicle dealers must be open - โโโa. 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 suspendedon the following grounds except: - โโโadvertising a salvaged vehicle that identifies that vehicle as a salvage vehicle The license of a motor vehicle salesperson may be denied, revoked, or suspendedon the following grounds except: - โโโ. not having a valid Colorado drivers license The license of a motor vehicle salesperson may be denied, revoked, or suspendedon the following grounds except - โโโto engage as a licensee without having in force a good and sufficient bond withcorporate surety A dealer, wholesaler or salesperson who is convicted of any felony or any crimepursuant to Article 3, 4 or 5 of Title 18, C.R.S. (felony or criminal misdemeanor) or likecrime pursuant to federal law or law
of any other state has _____ days to give the DealerBoard written notice of such conviction? - โโโthirty days after such conviction When a salesperson voluntarily leaves or is discharged from a dealership, the dealermust immediately return that salesperson's _________ to the Dealer Board. - โโโmotor vehicle dealer or used motor vehicle dealer who last employed the salesperson shallconfiscate and return such salesperson's license to the board A salesperson can change dealerships during the licensing year provided that aChange of Employer Notification form is submitted to the Board. It is unlawful for suchsalesperson to act as a motor vehicle salesperson until a new _________ is procured. - โโโIt shall be unlawful for such salesperson to act as amotor vehicle salesperson until a new license is procured. A buyer agent may: - โโโbe retained or hired by a consumer to assist, represent, or act on behalf of such A new motor vehicle has three of the following characteristics. Which onedoesn't it have? - โโโmotor vehicle that is titled Which of the following would always indicate a motor vehicle is used? - โโโa vehicle that is titled Since 1985, the Federal Trade Commission's Used Car Rule has required that dealersprominently and conspicuously display the __________________ on every used car orlight truck offered for sale. This is also known as the "as is" sticker. - โโโBuyers Guide 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? - โโโdisclosing the cost of leasing versus the cost of purchasing. An advertisement would include: - โโโall of the above Which of the following must be identified in advertising? - โโโall of the above he only items that can be added to an advertised price are: - โโโnone of the above A dealer may advertise in which of the following manners? - โโโd. 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): - โโโThe dealer's name or the word "dealer" must be includedin the advertisement or both name and the word "dealer"if the name appears but does not clearly reflect that thebusiness is a dealer. The Colorado Consumer Protection Act declares bait and switch advertising to bea deceptive trade practice. Bait and switch advertising would include which of thefollowing? - โโโall of the above 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 of finance charge. Which one is notrequired? - โโโa. tax rate A dealer has how many days to deliver or facilitate delivery of title from the dateof sale? - โโโThe title or MCO must be procured by the dealer or wholesaler upon the sale and delivery of the vehicle
A customer's trade-in vehicle on a financed deal may be sold: - โโโc. only when the financing has been approved Colorado's Lemon Law covers: - โโโColorado's Lemon Law covers only new self-propelledvehicles, including pickups and vans. Motor homes andmotorcycles are excluded from the Lemon Law. Which of the following is true about Colorado's Lemon Law? - โโโall of the above The proper steps to repossess a motor vehicle include: - โโโall of the above Local law enforcement offices must be notified within _______ hour(s) before orafter the repossession of a motor vehicle occurs. - โโโonehour before Which of the following may motor vehicle dealers sell on a Sunday? - โโโc. no vehicles may be sold on a Sunday