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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 bait and switch is - correct answer>>ad that attracts consumers with a low-priced product, then tries to sell them a higher-priced product
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Three of the following types of motor vehicles are exempt from the truth in mileage act.
Licensed dealers may sell which of the following on Sundays? - correct answer>>The selling of boat trailers and snowmobile are exempt Which of the following steps are required to properly and legally repossess a motor vehicle? - correct answer>>effect a lien creating a security interest, Allow the required payment to default (become at least 10 days late), send or hand deliver a "right to cure" letter to the debtor and allow the debtor 20 days to cure An advertisement may include - correct answer>>licensed name with the word DEALER which of the following is a used vehicle? - correct answer>>any vehicle that has been previously bought a demo vehicle with 1500 miles Which of the following are deceptive trade practices? - correct answer>>All of the above Bait and switch How many temp permits may a dealer issue for each roadworthy vehicle sold? - correct answer>> 1 An extension can only be issued but the DMV Depot plates may be used during normal business hours to transport a motor vehicle - correct answer>>all of the above All plates Three of the following are required when a dealer is advertising a lease of a motor vehicle with a payment 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
Wholesalers may? - correct answer>>Sell to dealers and other wholesalers or Make a profit or gain selling to dealers and wholesalers The license of a Motor vehicle salesman may be revoked/suspended on the following grounds: - correct answer>>Violating any of the terms and provisions The license of a Motor vehicle salesman may be revoked/suspended on all grounds EXCEPT: - correct answer>>advertising a salvaged vehicle while identifying that vehicle as salvaged The advertised price of a Motor vehicle must include: - correct answer>>dealer handling and preparation charges Which must remain in the window of a new motor vehicle until its sold to the ultimate purchaser? - correct answer>>Moroney label A Motor vehicle dealer, wholesaler, or salesperson must give Dealer Board written notice of - correct answer>>If hours of business are going to change Motor vehicles with demo plates may be loaned to charity organizations and celebrities
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 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 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, The Motor Vehicle Dealer board is authorized and empowered to - correct answer>>All of the above
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 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 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? - 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 Wholesalers: - correct answer>>must use a name other than their personal name on all business documents A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business - correct answer>>False A dealer must take in the title in their own name before selling a car to a retail customer
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 Which of the following is true regarding depot plates? - correct answer>>depot plates may be used by a dealer to road test a vehicle after repair Motor vehicle dealers, powersports dealers, used motor vehicle dealers, used powersports dealers, or wholesalers are not required to report to the dealer board: - correct answer>>any change in the hours of operation of the business when the business continues full time