DMV Dealer License Test with answers
The National Motor Vehicle Title Information System requires
which of the following?
a. All warranty agreements be sent to DMV
b. All vehicles have a Car Fax
c. A red warning decal be placed on vehicles with branded titles
d. Both A and B - ...,.🔹VERIFIED ANSWER **✔✔c. A red
warning decal be placed on vehicles with branded titles
When a dealer sells a vehicle that was consigned to them to sell,
they must:
a. Provide the seller an accounting and payment within 20 days of
the sale
b. Test drive it before agreeing to sell it
c. Provide a warranty
d. None of the above - ...,.🔹VERIFIED ANSWER **✔✔a. Provide
the seller an accounting and payment within 29 days of the sale.
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, Which of the following are permitted methods for computing
interest rate?
a. The Pre-Computed Basis Method
b. The Simple Interest Basis Method
c. The Friedman Method
d. Both A and B - ...,.🔹VERIFIED ANSWER **✔✔d. Both A and B
What is the maximum a dealer may charge a customer for a smog
test? - ...,.🔹VERIFIED ANSWER **✔✔$50.00
What is the basic DMV transfer fee to transfer the title into the
buyer's name? - ...,.🔹VERIFIED ANSWER **✔✔$15.00
If the buyer defaults on a Conditional Sales Contract, the dealer
may, subject to proper notification to the buyer:
a. Accelerate the amount do
b. Repossess vehicle
c. Sell the vehicle
d. All of the above - ...,.🔹VERIFIED ANSWER **✔✔d. All of the
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The National Motor Vehicle Title Information System requires
which of the following?
a. All warranty agreements be sent to DMV
b. All vehicles have a Car Fax
c. A red warning decal be placed on vehicles with branded titles
d. Both A and B - ...,.🔹VERIFIED ANSWER **✔✔c. A red
warning decal be placed on vehicles with branded titles
When a dealer sells a vehicle that was consigned to them to sell,
they must:
a. Provide the seller an accounting and payment within 20 days of
the sale
b. Test drive it before agreeing to sell it
c. Provide a warranty
d. None of the above - ...,.🔹VERIFIED ANSWER **✔✔a. Provide
the seller an accounting and payment within 29 days of the sale.
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15
, Which of the following are permitted methods for computing
interest rate?
a. The Pre-Computed Basis Method
b. The Simple Interest Basis Method
c. The Friedman Method
d. Both A and B - ...,.🔹VERIFIED ANSWER **✔✔d. Both A and B
What is the maximum a dealer may charge a customer for a smog
test? - ...,.🔹VERIFIED ANSWER **✔✔$50.00
What is the basic DMV transfer fee to transfer the title into the
buyer's name? - ...,.🔹VERIFIED ANSWER **✔✔$15.00
If the buyer defaults on a Conditional Sales Contract, the dealer
may, subject to proper notification to the buyer:
a. Accelerate the amount do
b. Repossess vehicle
c. Sell the vehicle
d. All of the above - ...,.🔹VERIFIED ANSWER **✔✔d. All of the
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