WISCONSIN AUTO SALES LICENSE EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS

WISCONSIN AUTO SALES LICENSE EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS ALREADY GRADED A+ 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 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 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)