Wisconsin Auto Sales License Exam What aren't you allowed to do while advertising - Answer- use deceptive or misleading advertising to induce price
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
Do you need to include the dealership name in advertisements? - Answer- yes
If a product is only free with purchase necessary what wording would you use instead of
"free" - Answer- included with Title Brand - Answer- info on the title containing terms such as - buyback, modified, former police vehicle etc.
How long does a dealership have to deliver the application for a title/registration on a bought vehicle? - Answer- 7 days after delivery
MVII - Answer- a WI title and license plate application for transferring ownership
when can dealer plates NOT be used - Answer- - on rental vehicles
- on vehicles that are not for sale
Which COPIED documents need to be kept by the dealership for a minimum of 5 years?
- Answer- purchase contracts, applications for titles and registration, odometer statements, cosigning agreements, factory invoices, power of attorney forms, titles
Which ORIGINAL documents need to be kept by the dealership for a minimum of 5 years? - Answer- log books and the Wisconsin Buyers Guide
Dealership Group - Answer- 2 or more dealerships with the same majority owner
Manufacturer Certificate of Origin - Answer- contains information on the manufacturer, VIN, place of assembly, and delivery point
Pre-Delivery Inspection Test - Answer- a report on a new vehicle from the manufacturer that must be given to the customer after the vehicle is sold
Emission Standards Certificate - Answer- a certificate that confirms a vehicle has been installed and inspected, and what to do if the system fails
Damage Disclosure Statement - Answer- a written disclosure given to the customer if 6% or more of the MSRP has been damaged. Any uncorrected damage must be disclosed
What parts of the car are NOT included in the Damage Disclosure Statement? - Answer- glass, tires, bumpers
Reasonable Care Standard - Answer- dealerships are required to test drive and expect the vehicle internally and externally
(the car does not have to be taken apart)
Are you required to tell a customer the previous owner's name and address upon request? - Answer- yes
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
Do you need to include the dealership name in advertisements? - Answer- yes
If a product is only free with purchase necessary what wording would you use instead of
"free" - Answer- included with Title Brand - Answer- info on the title containing terms such as - buyback, modified, former police vehicle etc.
How long does a dealership have to deliver the application for a title/registration on a bought vehicle? - Answer- 7 days after delivery
MVII - Answer- a WI title and license plate application for transferring ownership
when can dealer plates NOT be used - Answer- - on rental vehicles
- on vehicles that are not for sale
Which COPIED documents need to be kept by the dealership for a minimum of 5 years?
- Answer- purchase contracts, applications for titles and registration, odometer statements, cosigning agreements, factory invoices, power of attorney forms, titles
Which ORIGINAL documents need to be kept by the dealership for a minimum of 5 years? - Answer- log books and the Wisconsin Buyers Guide
Dealership Group - Answer- 2 or more dealerships with the same majority owner
Manufacturer Certificate of Origin - Answer- contains information on the manufacturer, VIN, place of assembly, and delivery point
Pre-Delivery Inspection Test - Answer- a report on a new vehicle from the manufacturer that must be given to the customer after the vehicle is sold
Emission Standards Certificate - Answer- a certificate that confirms a vehicle has been installed and inspected, and what to do if the system fails
Damage Disclosure Statement - Answer- a written disclosure given to the customer if 6% or more of the MSRP has been damaged. Any uncorrected damage must be disclosed
What parts of the car are NOT included in the Damage Disclosure Statement? - Answer- glass, tires, bumpers
Reasonable Care Standard - Answer- dealerships are required to test drive and expect the vehicle internally and externally
(the car does not have to be taken apart)
Are you required to tell a customer the previous owner's name and address upon request? - Answer- yes
