MOTOR VEHICLE SALES LICENSE EXAMS SCRIPT 2025
QUESTIONS ANSD SOLUTIONS RATED A+
✔✔New vehicles can only - ✔✔He sold by a Colorado licensed new motor vehicle
dealer that is franchised by the manufacturer
✔✔Manufacturers certificate of origin (MCO) - ✔✔This document is required from a
manufacturer for each vehicle produced.
it specifies the make model body type date of manufacture and date of transfer, weight
and vin number
✔✔Monroney Label - ✔✔Federally mandated label lists the manufacturers suggested
retail price (MSRP) which served a price on all new vehicles
✔✔The monroney label cannot be - ✔✔Altered or removed until the vehicle is delivered
or the the possession of purchaser
✔✔Dealer ammendum - ✔✔This labels lists any dealer added or deleted equipment or
services must remain on vehicle until purchase
✔✔Transfer of title (new vehicle) - ✔✔The buyer of a new vehicle must be given
1. MCO
2. Application for title
3.sales tax receipt
4. States required disclosure form
5 copy of complete buyers order
6. Copy of any document signed by consumer
7.certificate of emissions
✔✔used motor vehicles - ✔✔A vehicle which has been sold bargained or exchanged
before
✔✔FTC - ✔✔Federal Trade Commission requires buyers guide to be posted on window
until purchahed
✔✔Lease vehicles - ✔✔Personal property leased by an individual for more than 4
months
✔✔Motor vehicle advertising - ✔✔Dealer board monitor vehicle advertising that is
misleading
✔✔Advertising - ✔✔Any commerical message in source
, ✔✔The dealer is responsible for taking - ✔✔Written action to attempt to correct false
advertising
✔✔Bait & Switch (Advertising Technique) - ✔✔A dishonest marketing tactic in which a
marketer advertises a very attractive price/rate/term that is really a teaser rate meant to
attract customers.
✔✔Truth in Lending Act - ✔✔An act which requires lenders to inform borrowers of all
direct, indirect and true costs of credit.
✔✔Salvage Certificate - ✔✔Normally, this document indicates the vehicle had extensive
body damage. Once a Colorado Salvage Certificate has been issued, only a licensed
rebuilder can re pair the vehicle.
✔✔Any person who sells a salvage title must - ✔✔Disclose in written form that the
vehicle has been rebuilt
✔✔Mechanic's Lien - ✔✔A statutory lien levied on property by a person who is
wrongfully not compensated after providing labor (mechanic) or material (material-man)
for the improvement to land. (Only on the specific property where the work was
complete.) Not on personal property.
✔✔Demo plates - ✔✔issued to dealerships instead of registering each vehicle.
✔✔In-transit plates - ✔✔Used to transport vehicles owned by new and used dealers
from point of purchase to storage
✔✔Depot plates - ✔✔Used for transporting from place of business or storage. For road
testing
✔✔Temporary registration plates - ✔✔plates are issued by the dealer and are valid only
if permanent plates are applied for and are valid only until (1) the permanent plates
arrive or (2) the sales contract is rescinded. After these plates have been used for 30
days,
✔✔Return registration and plates - ✔✔Return plates and registration on a trade in
vehicle to customer
✔✔The Truth In Mileage Act 1986 - ✔✔requires that both the buyer and seller must sign
and print their name to the Odometer Statement
✔✔A secure power of attorney form - ✔✔The DR2174 may be used in cases where the
original title has been lost
QUESTIONS ANSD SOLUTIONS RATED A+
✔✔New vehicles can only - ✔✔He sold by a Colorado licensed new motor vehicle
dealer that is franchised by the manufacturer
✔✔Manufacturers certificate of origin (MCO) - ✔✔This document is required from a
manufacturer for each vehicle produced.
it specifies the make model body type date of manufacture and date of transfer, weight
and vin number
✔✔Monroney Label - ✔✔Federally mandated label lists the manufacturers suggested
retail price (MSRP) which served a price on all new vehicles
✔✔The monroney label cannot be - ✔✔Altered or removed until the vehicle is delivered
or the the possession of purchaser
✔✔Dealer ammendum - ✔✔This labels lists any dealer added or deleted equipment or
services must remain on vehicle until purchase
✔✔Transfer of title (new vehicle) - ✔✔The buyer of a new vehicle must be given
1. MCO
2. Application for title
3.sales tax receipt
4. States required disclosure form
5 copy of complete buyers order
6. Copy of any document signed by consumer
7.certificate of emissions
✔✔used motor vehicles - ✔✔A vehicle which has been sold bargained or exchanged
before
✔✔FTC - ✔✔Federal Trade Commission requires buyers guide to be posted on window
until purchahed
✔✔Lease vehicles - ✔✔Personal property leased by an individual for more than 4
months
✔✔Motor vehicle advertising - ✔✔Dealer board monitor vehicle advertising that is
misleading
✔✔Advertising - ✔✔Any commerical message in source
, ✔✔The dealer is responsible for taking - ✔✔Written action to attempt to correct false
advertising
✔✔Bait & Switch (Advertising Technique) - ✔✔A dishonest marketing tactic in which a
marketer advertises a very attractive price/rate/term that is really a teaser rate meant to
attract customers.
✔✔Truth in Lending Act - ✔✔An act which requires lenders to inform borrowers of all
direct, indirect and true costs of credit.
✔✔Salvage Certificate - ✔✔Normally, this document indicates the vehicle had extensive
body damage. Once a Colorado Salvage Certificate has been issued, only a licensed
rebuilder can re pair the vehicle.
✔✔Any person who sells a salvage title must - ✔✔Disclose in written form that the
vehicle has been rebuilt
✔✔Mechanic's Lien - ✔✔A statutory lien levied on property by a person who is
wrongfully not compensated after providing labor (mechanic) or material (material-man)
for the improvement to land. (Only on the specific property where the work was
complete.) Not on personal property.
✔✔Demo plates - ✔✔issued to dealerships instead of registering each vehicle.
✔✔In-transit plates - ✔✔Used to transport vehicles owned by new and used dealers
from point of purchase to storage
✔✔Depot plates - ✔✔Used for transporting from place of business or storage. For road
testing
✔✔Temporary registration plates - ✔✔plates are issued by the dealer and are valid only
if permanent plates are applied for and are valid only until (1) the permanent plates
arrive or (2) the sales contract is rescinded. After these plates have been used for 30
days,
✔✔Return registration and plates - ✔✔Return plates and registration on a trade in
vehicle to customer
✔✔The Truth In Mileage Act 1986 - ✔✔requires that both the buyer and seller must sign
and print their name to the Odometer Statement
✔✔A secure power of attorney form - ✔✔The DR2174 may be used in cases where the
original title has been lost
