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SALES MASTERY TEST EXAM |
QUESTIONS & ANSWERS (VERIFIED) |
LATEST UPDATE | GRADED A+
The Motor Vehicle Dealer Board is authorized and empowered to: Correct Answer: issue or deny motor vehicle dealer and salesperson licenses he Motor Vehicle Dealer Board is authorized and empowered to: Correct Answer: d. all of the above Dealers may be administratively fined by the Dealer Board up to what amount foreach separate offense? Correct Answer: 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? Correct Answer: $50,000 for Dealer/Wholesaler Motor vehicle salespersons are required to have a surety bond in the amount of? Correct Answer: $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 Correct Answer: A person is engaged in the business of selling motor vehicles. The definition of a used motor vehicle dealer includes which of the following? Correct Answer: "Used motor vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars. Wholesalers may: Correct Answer: make a profit or gain selling to dealers and wholesalers Three of the following are characteristics of an off-premise permit. Which one isnot? Correct Answer: the permit could be used for a permanent second location All motor vehicle dealers and used motor vehicle dealers must be open Correct Answer: 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:
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. Correct Answer: It shall be unlawful for such salesperson to act as amotor vehicle salesperson until a new license is procured. A buyer agent may: Correct Answer: 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? Correct Answer: motor vehicle that is titled Which of the following would always indicate a motor vehicle is used? Correct Answer: 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. Correct Answer: 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? Correct Answer: disclosing the cost of leasing versus the cost of purchasing. An advertisement would include: Correct Answer: all of the above Which of the following must be identified in advertising? Correct Answer: all of the above he only items that can be added to an advertised price are: Correct Answer: none of the above A dealer may advertise in which of the following manners? Correct Answer: 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): Correct Answer: 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.
Correct Answer: Which one of the following statements is true regarding dealer demo plates? Correct Answer: 2. May be displayed on vehicles for demonstration drive purposes, during normal businesshours, when a dealership employee is in the vehicle with the prospective buyer. a. May be displayed on vehicles operated by a prospective buyer for demonstration drives.Demonstration drives by a prospective purchaser shall not exceed seven calendar days.2.12 Lost or stolen dealer plates shall be reported within seventy- two (72) hours to the local law Which of the following is true regarding dealer demo plates? Correct Answer: dealer demo plates may be displayed only on vehicles owned by or consigned tothe dealer or wholesaler Which of the following is true regarding depot plates? Correct Answer: A depot plate may be used by the dealership to transport vehicles to and from the dealer'splace of business or storage for the purpose of completing work that involves repairing,painting, upholstering, polishing or other similar types of work on the vehicle. A depot plate mayalso be used for road testing the vehicle after repair. Movement of a vehicle using a depot platefor any purpose other than those listed above shall constitute private use.
A new or used motor vehicle dealer may legally do which of the following with atemporary registration permit? Correct Answer: issue a permit for a demonstration drive by a consumer How many temporary permits may a dealer issue for each road worthy vehiclesold Correct Answer: 1 Records of vehicle transfers and odometer statements must be retained for ____years. Correct Answer: 5 The odometer law declares all of the following except: Correct Answer: it is unlawful to replace an odometer under any circumstance Three of the following types of motor vehicles are exempt from the Truth inMileage Act. Which one is not exempt? Correct Answer: motor vehicles with out-of-state titles The federal cash reporting rule requires dealers to file federal form 8300 with theInternal Revenue Service when they receive more than $10,000 cash in a singletransaction. How many days does a dealer have to file this form? Correct Answer: 15 days
Correct Answer: all of the above Local law enforcement offices must be notified within _______ hour(s) before orafter the repossession of a motor vehicle occurs. Correct Answer: onehour before Which of the following may motor vehicle dealers sell on a Sunday? Correct Answer: c. no vehicles may be sold on a Sunday The Motor Vehicle Dealer Board is authorized and empowered to: Correct Answer: issue or deny motor vehicle dealer and salesperson licenses he Motor Vehicle Dealer Board is authorized and empowered to: Correct Answer: d. all of the above Dealers may be administratively fined by the Dealer Board up to what amount foreach separate offense? Correct Answer: 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? Correct Answer: $50,000 for Dealer/Wholesaler Motor vehicle salespersons are required to have a surety bond in the amount of?
Correct Answer: $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 Correct Answer: A person is engaged in the business of selling motor vehicles. The definition of a used motor vehicle dealer includes which of the following? Correct Answer: "Used motor vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars. Wholesalers may: Correct Answer: make a profit or gain selling to dealers and wholesalers Three of the following are characteristics of an off-premise permit. Which one isnot? Correct Answer: the permit could be used for a permanent second location All motor vehicle dealers and used motor vehicle dealers must be open Correct Answer: 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.
Correct Answer: 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. Correct Answer: It shall be unlawful for such salesperson to act as amotor vehicle salesperson until a new license is procured. A buyer agent may: Correct Answer: 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? Correct Answer: motor vehicle that is titled Which of the following would always indicate a motor vehicle is used? Correct Answer: 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. Correct Answer: 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? Correct Answer: disclosing the cost of leasing versus the cost of purchasing. An advertisement would include: Correct Answer: all of the above Which of the following must be identified in advertising? Correct Answer: all of the above he only items that can be added to an advertised price are: Correct Answer: none of the above A dealer may advertise in which of the following manners? Correct Answer: 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
Correct Answer: a signed Monroney Label ull-use dealer plates cannot be displayed on vehicles that are used by the dealershipfor any _______________ purpose Correct Answer: Which one of the following statements is true regarding dealer demo plates? Correct Answer: 2. May be displayed on vehicles for demonstration drive purposes, during normal businesshours, when a dealership employee is in the vehicle with the prospective buyer. a. May be displayed on vehicles operated by a prospective buyer for demonstration drives.Demonstration drives by a prospective purchaser shall not exceed seven calendar days.2.12 Lost or stolen dealer plates shall be reported within seventy- two (72) hours to the local law Which of the following is true regarding dealer demo plates? Correct Answer: dealer demo plates may be displayed only on vehicles owned by or consigned tothe dealer or wholesaler Which of the following is true regarding depot plates? Correct Answer: A depot plate may be used by the dealership to transport vehicles to and from the dealer'splace of business or storage for the purpose of completing work that involves repairing,painting, upholstering, polishing or other similar types of work on the vehicle. A depot plate mayalso be used for road testing the vehicle after repair.
Movement of a vehicle using a depot platefor any purpose other than those listed above shall constitute private use. A new or used motor vehicle dealer may legally do which of the following with atemporary registration permit? Correct Answer: issue a permit for a demonstration drive by a consumer How many temporary permits may a dealer issue for each road worthy vehiclesold Correct Answer: 1 Records of vehicle transfers and odometer statements must be retained for ____years. Correct Answer: 5 The odometer law declares all of the following except: Correct Answer: it is unlawful to replace an odometer under any circumstance Three of the following types of motor vehicles are exempt from the Truth inMileage Act. Which one is not exempt? Correct Answer: motor vehicles with out-of-state titles The federal cash reporting rule requires dealers to file federal form 8300 with theInternal Revenue Service when they receive more than $10,000 cash in a singletransaction. How many days does a dealer have to file this form?
The proper steps to repossess a motor vehicle include: Correct Answer: all of the above Local law enforcement offices must be notified within _______ hour(s) before orafter the repossession of a motor vehicle occurs. Correct Answer: onehour before Which of the following may motor vehicle dealers sell on a Sunday? Correct Answer: c. no vehicles may be sold on a Sunday
