DEALER LICENSE TEST PAPER QUESTIONS AND SOLUTIONS COMPLETE REVIEW MATERIAL

DEALER LICENSE TEST PAPER QUESTIONS
AND SOLUTIONS COMPLETE REVIEW
MATERIAL

●● What terms cannot be used when discussing trade in allowance?
Answer: - We will pay up to
- appraise your own vehicle
- as much as


●● what wording can you NOT use in advertisements unless the
dealership is going out of business
Answer: - close out
- last of remaining


●● Do you always have to disclose when a vehicle has been flood
damaged
Answer: yes


●● MSRP
Answer: a label on the window of a car that has information on standard
equipment, base price, transport method, assembly point, receiving
dealer

, ●● Are MSRPs required for trucks?
Answer: no


●● Dealer Supplemental Price Label
Answer: a label that lists optional equipment or accessories installed by
the dealership


●● Wisconsin Buyers Guide
Answer: the results of a safety inspection


●● when is the Wisconsin Buyers Guide not required
Answer: - trucks over 16,000 pounds
- demo vehicles
- unrepaired salvage
- leased vehicles that are bought after the leasing period is up


●● what must you include about the model year
Answer: model year, whether or not it's used or new, or "one-owner"
when applicable


●● what must be ensured to list a vehicle as available
Answer: that there is enough available or that it can be delivered within
a reasonable time