Sales Mastery Final Exam: Motor Vehicle Dealer Regulations in Colorado | Exams Public Policy

SALES MASTERY FINAL EXAM

.QUESTIONS AND VERIFIED

SOLUTIONS.LATEST UPDATE 2025

The Motor Vehicle Dealer Board is authorized and empowered to: - ✔✔✔issue or deny motor vehicle

dealer and salesperson licenses

he Motor Vehicle Dealer Board is authorized and empowered to: - ✔✔✔d. all of the above

Dealers may be administratively fined by the Dealer Board up to what amount foreach separate

offense? - ✔✔✔shall 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 ? - ✔✔✔$50,000 for Dealer/Wholesaler

Motor vehicle salespersons are required to have a surety bond in the amount of? - ✔✔✔$15,000

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 - ✔✔✔A person is

engaged in the business of selling motor vehicles.

The definition of a used motor vehicle dealer includes which of the following? - ✔✔✔"Used motor

vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars.

Wholesalers may: - ✔✔✔make a profit or gain selling to dealers and wholesalers

Three of the following are characteristics of an off-premise permit. Which one isnot? - ✔✔✔the

permit could be used for a permanent second location

All motor vehicle dealers and used motor vehicle dealers must be open - ✔✔✔a. 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: - ✔✔✔advertising 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: - ✔✔✔. not having a valid Colorado drivers license

The license of a motor vehicle salesperson may be denied, revoked, or suspendedon the following

grounds except - ✔✔✔to 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

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SALES MASTERY FINAL EXAM

.QUESTIONS AND VERIFIED

SOLUTIONS.LATEST UPDATE 2025

The Motor Vehicle Dealer Board is authorized and empowered to: - ✔✔✔issue or deny motor vehicle dealer and salesperson licenses he Motor Vehicle Dealer Board is authorized and empowered to: - ✔✔✔d. all of the above Dealers may be administratively fined by the Dealer Board up to what amount foreach separate offense? - ✔✔✔shall 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? - ✔✔✔$50,000 for Dealer/Wholesaler Motor vehicle salespersons are required to have a surety bond in the amount of? - ✔✔✔$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 - ✔✔✔A person is engaged in the business of selling motor vehicles. The definition of a used motor vehicle dealer includes which of the following? - ✔✔✔"Used motor vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars. Wholesalers may: - ✔✔✔make a profit or gain selling to dealers and wholesalers Three of the following are characteristics of an off-premise permit. Which one isnot? - ✔✔✔the permit could be used for a permanent second location All motor vehicle dealers and used motor vehicle dealers must be open - ✔✔✔a. 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: - ✔✔✔advertising 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: - ✔✔✔. not having a valid Colorado drivers license The license of a motor vehicle salesperson may be denied, revoked, or suspendedon the following grounds except - ✔✔✔to 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? - ✔✔✔thirty 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. - ✔✔✔motor 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. - ✔✔✔It shall be unlawful for such salesperson to act as amotor vehicle salesperson until a new license is procured. A buyer agent may: - ✔✔✔be 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? - ✔✔✔motor vehicle that is titled Which of the following would always indicate a motor vehicle is used? - ✔✔✔a 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. - ✔✔✔Buyers 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? - ✔✔✔disclosing the cost of leasing versus the cost of purchasing. An advertisement would include: - ✔✔✔all of the above Which of the following must be identified in advertising? - ✔✔✔all of the above he only items that can be added to an advertised price are: - ✔✔✔none of the above A dealer may advertise in which of the following manners? - ✔✔✔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): - ✔✔✔The 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? - ✔✔✔all 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? - ✔✔✔a. tax rate A dealer has how many days to deliver or facilitate delivery of title from the dateof sale? - ✔✔✔The 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: - ✔✔✔c. only when the financing has been approved Colorado's Lemon Law covers: - ✔✔✔Colorado'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? - ✔✔✔all of the above The proper steps to repossess a motor vehicle include: - ✔✔✔all of the above Local law enforcement offices must be notified within _______ hour(s) before orafter the repossession of a motor vehicle occurs. - ✔✔✔onehour before Which of the following may motor vehicle dealers sell on a Sunday? - ✔✔✔c. no vehicles may be sold on a Sunday

Sales Mastery Final Exam: Motor Vehicle Dealer Regulations in Colorado, Exams of Public Policy

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Partial preview of the text

Download Sales Mastery Final Exam: Motor Vehicle Dealer Regulations in Colorado and more Exams Public Policy in PDF only on Docsity!

SALES MASTERY FINAL EXAM

.QUESTIONS AND VERIFIED

SOLUTIONS.LATEST UPDATE 2025