WISCONSIN MOTOR VEHICLE SALESPERSON
COMPREHENSIVE EXAM 2026/2027 QUESTIONS AND
SOLUTIONS RATED A+
✔✔-Completing any salesrelated or lease-related vehicle inspection or forms which are
required by law or rule if the dealer has made full disclosure of the service fee to the
prospective retail customer.
-Dealers who are providing electronic title and registration service may also charge an
additional fee. - ✔✔A dealer may assess a purchaser or lessee an additional service fee
when?
✔✔On the purchase contract - ✔✔Where should an "as-is" sale be clearly identified
since the dealership is not providing any warranty protection for the customer?
✔✔Yes - ✔✔Are "As-is" sales legal in Wisconsin?
✔✔When the manufacturer's price changes - ✔✔When does the law allow (under
certain conditions) for the dealer to adjust the contracted purchase price of an order-out
new vehicle?
✔✔The price protection section on the purchase contract - ✔✔What must be completed
in order to adjust the price?
✔✔No - ✔✔Do manufacturers have consistent practices on price protection?
✔✔Any additional equipment required by state or federal law -
» For foreign vehicles, a revaluation of the U.S. dollar by the U.S. government
» Increase of state or federal taxes on vehicles - ✔✔A dealer may also legally increase
the purchase price of an order-out vehicle for the following reasons:
✔✔Bushing - ✔✔Raising the price of a vehicle after a purchase contract has been
signed by a customer and
accepted by a dealer, for reasons other than those allowed, is illegal and known as?
✔✔-the trade-in vehicle has been damaged
-if parts have been removed
-if the mileage exceeds the limits specified on the purchase contract - ✔✔The value of a
trade-in may be reappraised only if:
✔✔Three days - ✔✔When a vehicle purchase contract is offered and accepted AWAY
from the dealer's licensed place of business, how many days is the customer entitled to
for a "cooling off" period?
✔✔True - ✔✔The customer may cancel the contract during
, this "cooling off " period.
✔✔The purchase contract is signed - ✔✔You must give the customer two copies of a
notice of the "cooling off" period right when?
✔✔18 years - ✔✔Contracts signed by persons under what age are not binding and may
be canceled by the without a penalty?
✔✔A notarized signature in the "Consent to Purchase" section of the Application for
Title and Registration. - ✔✔Before you negotiate a contract with a minor, you must have
the minor's parent or guardian
provide what?
✔✔When delivery of the vehicle cannot be made within 15 days after the anticipated
delivery date stated on the
contract - ✔✔When can a customer refuse delivery of a vehicle and cancel the contract
without penalty?
✔✔An agreement to enter into a consumer lease of a motor vehicle that will be
available
and ready to be delivered to a customer at a later time. - ✔✔What is a prelease
agreement?
✔✔-Provide the customer with the lease term disclosures required by law
-Complete the prelease agreement including signatures of both the dealer and the
customer
-Provide the customer with an exact copy of the prelease agreement
-There can be no blank lines in the signed prelease agreement except for the
identification number if the vehicle is not available at the time of signing - ✔✔To make a
prelease agreement binding, you must:
✔✔-If the customer's credit is not approved by the sales finance company that is loaning
the money for the lease.
-The reason for denial must be based on the lease terms disclosed in the agreement.
-The dealer can cancel the agreement only when it contains a provision requiring the
dealer to give the customer written notice of the cancellation within 10 business days of
signing and the notice is given to the customer. - ✔✔When can the dealer cancel the
prelease agreement?
✔✔5 % of the captialized cost of the vehicle - ✔✔What is the maximum non-acceptance
penalty that can be included in a prelease agreement?
✔✔Yes - Even though they don't own the vehicle, they can sell it for the the titled owner.
- ✔✔Licensed dealers only may sell a vehicle for a private party on consignment?
COMPREHENSIVE EXAM 2026/2027 QUESTIONS AND
SOLUTIONS RATED A+
✔✔-Completing any salesrelated or lease-related vehicle inspection or forms which are
required by law or rule if the dealer has made full disclosure of the service fee to the
prospective retail customer.
-Dealers who are providing electronic title and registration service may also charge an
additional fee. - ✔✔A dealer may assess a purchaser or lessee an additional service fee
when?
✔✔On the purchase contract - ✔✔Where should an "as-is" sale be clearly identified
since the dealership is not providing any warranty protection for the customer?
✔✔Yes - ✔✔Are "As-is" sales legal in Wisconsin?
✔✔When the manufacturer's price changes - ✔✔When does the law allow (under
certain conditions) for the dealer to adjust the contracted purchase price of an order-out
new vehicle?
✔✔The price protection section on the purchase contract - ✔✔What must be completed
in order to adjust the price?
✔✔No - ✔✔Do manufacturers have consistent practices on price protection?
✔✔Any additional equipment required by state or federal law -
» For foreign vehicles, a revaluation of the U.S. dollar by the U.S. government
» Increase of state or federal taxes on vehicles - ✔✔A dealer may also legally increase
the purchase price of an order-out vehicle for the following reasons:
✔✔Bushing - ✔✔Raising the price of a vehicle after a purchase contract has been
signed by a customer and
accepted by a dealer, for reasons other than those allowed, is illegal and known as?
✔✔-the trade-in vehicle has been damaged
-if parts have been removed
-if the mileage exceeds the limits specified on the purchase contract - ✔✔The value of a
trade-in may be reappraised only if:
✔✔Three days - ✔✔When a vehicle purchase contract is offered and accepted AWAY
from the dealer's licensed place of business, how many days is the customer entitled to
for a "cooling off" period?
✔✔True - ✔✔The customer may cancel the contract during
, this "cooling off " period.
✔✔The purchase contract is signed - ✔✔You must give the customer two copies of a
notice of the "cooling off" period right when?
✔✔18 years - ✔✔Contracts signed by persons under what age are not binding and may
be canceled by the without a penalty?
✔✔A notarized signature in the "Consent to Purchase" section of the Application for
Title and Registration. - ✔✔Before you negotiate a contract with a minor, you must have
the minor's parent or guardian
provide what?
✔✔When delivery of the vehicle cannot be made within 15 days after the anticipated
delivery date stated on the
contract - ✔✔When can a customer refuse delivery of a vehicle and cancel the contract
without penalty?
✔✔An agreement to enter into a consumer lease of a motor vehicle that will be
available
and ready to be delivered to a customer at a later time. - ✔✔What is a prelease
agreement?
✔✔-Provide the customer with the lease term disclosures required by law
-Complete the prelease agreement including signatures of both the dealer and the
customer
-Provide the customer with an exact copy of the prelease agreement
-There can be no blank lines in the signed prelease agreement except for the
identification number if the vehicle is not available at the time of signing - ✔✔To make a
prelease agreement binding, you must:
✔✔-If the customer's credit is not approved by the sales finance company that is loaning
the money for the lease.
-The reason for denial must be based on the lease terms disclosed in the agreement.
-The dealer can cancel the agreement only when it contains a provision requiring the
dealer to give the customer written notice of the cancellation within 10 business days of
signing and the notice is given to the customer. - ✔✔When can the dealer cancel the
prelease agreement?
✔✔5 % of the captialized cost of the vehicle - ✔✔What is the maximum non-acceptance
penalty that can be included in a prelease agreement?
✔✔Yes - Even though they don't own the vehicle, they can sell it for the the titled owner.
- ✔✔Licensed dealers only may sell a vehicle for a private party on consignment?
