DEALER LICENSE DMV PRACTICE QUESTIONS UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Dealer plates must be displayed: c. Attached to the back of the vehicle over the existing license plate
a. In the back window of the vehicle
b. On the front dashboard
c. Attached to the back of the vehicle over the existing
license plate
d. All the above are acceptable
Regulations of an Autobroker include but are not limited d. Both A and C
to
a. Execute a brokering agreement in writing
b. Allows the dealer to be both the broker and dealer in
the same transaction
c. Limits the deposit to 2.5% of the selling price of the
vehicle
d. Both A and C
Regulations of A Buy Here Pay Here Dealer: d. All the above
a. Limits the Use of GPS and Starter Interrupt Technology
b. Must offer a 30 day or 1000 Mile warranty
c. Affix a Label that states the reasonable market value of
the vehicle
d. All the above
, The National Motor Vehicle Title Information System c. Red warning label posted on vehicles with a branded title
requires what for retail dealers?
a. Car Fax to be given to each customer in addition to a
NMVTIS report
b. Warranty must be provided for the customer
c. Red warning label posted on vehicles with a branded
title
d. None of the above
Permissible methods of financing are: d. Both A and B
a. Simple Interest Basis
b. Pre-computed Interest Basis
c. There is no certain method of financing
d. Both A and B
Conditional Sales Contracts that are defaulted by the d. All the above
buyer, the dealer may with proper notification to the
buyer:
a. Repossess the Vehicle
b. Accelerate the amount due on the loan
c. Give a deadline to redeem the loan
d. All the above
What items are taxable: d. Both A and B
a. Price of the vehicle
b. Smog Fee
c. Smog Certificate
d. Both A and B
How many days does a dealer have to pay the consignee b. 20 days
once the vehicle has sold?
a. 10 days
b. 20 days
c. 30 days
d. 40days
A dealers display area shall be: a. For the exclusive use of the dealer
a. For the exclusive use of the dealer
b. In an unmarked shopping mall
c. In a dirt field
d. On a street corner
A wholesale dealer must have all the following except d. Both A and B
a. A sign visible from 50 feet
b. Display area large enough to hold the vehicles offered
for sale
c. An office used exclusively for the dealer
d. Both A and B
QUESTIONS AND CORRECT ANSWERS
Dealer plates must be displayed: c. Attached to the back of the vehicle over the existing license plate
a. In the back window of the vehicle
b. On the front dashboard
c. Attached to the back of the vehicle over the existing
license plate
d. All the above are acceptable
Regulations of an Autobroker include but are not limited d. Both A and C
to
a. Execute a brokering agreement in writing
b. Allows the dealer to be both the broker and dealer in
the same transaction
c. Limits the deposit to 2.5% of the selling price of the
vehicle
d. Both A and C
Regulations of A Buy Here Pay Here Dealer: d. All the above
a. Limits the Use of GPS and Starter Interrupt Technology
b. Must offer a 30 day or 1000 Mile warranty
c. Affix a Label that states the reasonable market value of
the vehicle
d. All the above
, The National Motor Vehicle Title Information System c. Red warning label posted on vehicles with a branded title
requires what for retail dealers?
a. Car Fax to be given to each customer in addition to a
NMVTIS report
b. Warranty must be provided for the customer
c. Red warning label posted on vehicles with a branded
title
d. None of the above
Permissible methods of financing are: d. Both A and B
a. Simple Interest Basis
b. Pre-computed Interest Basis
c. There is no certain method of financing
d. Both A and B
Conditional Sales Contracts that are defaulted by the d. All the above
buyer, the dealer may with proper notification to the
buyer:
a. Repossess the Vehicle
b. Accelerate the amount due on the loan
c. Give a deadline to redeem the loan
d. All the above
What items are taxable: d. Both A and B
a. Price of the vehicle
b. Smog Fee
c. Smog Certificate
d. Both A and B
How many days does a dealer have to pay the consignee b. 20 days
once the vehicle has sold?
a. 10 days
b. 20 days
c. 30 days
d. 40days
A dealers display area shall be: a. For the exclusive use of the dealer
a. For the exclusive use of the dealer
b. In an unmarked shopping mall
c. In a dirt field
d. On a street corner
A wholesale dealer must have all the following except d. Both A and B
a. A sign visible from 50 feet
b. Display area large enough to hold the vehicles offered
for sale
c. An office used exclusively for the dealer
d. Both A and B
