COLORADO CAR SALES MASTERY EXAM NEWEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)

COLORADO CAR SALES MASTERY EXAM NEWEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) The license of a motor vehicle salesperson or power-sports salesperson may be denied, revoked or suspended on any of the following grounds except: - Ans → b) advertising a salvaged vehicle while identifying the vehicle as a salvage vehicle According to colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? - Ans → d) All of the above Colorado Lemon law covers: - Ans → c)defects that substantially impair the market value of a vehicle Three of the following are required to be disclosed in an advertisement when a dealer is advertisement a closed end credit sale of a mother vehicle or powersports...except? - Ans → d) tax rate The motor vehicle dealer board is authorized and empowered to: - Ans → D)all of the above Local law enforcement officers must be notified within ___ hours before or after the repossession of a motor vehicle occurs: - Ans → A)1 hours All motor vehicle dealers and power-sports dealers must post a clear, legible sign on their principal place of business if: - Ans → B) they will be open less than 40 hours a week A dealer may issue a temporary permits for each roadworthy vehicle sold - Ans → B) false (verify) The motor vehicle dealer board may be decide how large a fine to impose on a dealer who sells primarily vehicles that weigh 1,500 pounds or more so long as it does not exceed 5k - Ans → a)True (verify) The Colorado's consumer protection act declares bait and switch advertising to be deceptive trade practice. Bait and switch advertising includes which of the following - Ans → d)all of the above Three of the following types of motor vehicles are exempt from the truth in mileage act. Which one is not exempt? - Ans → B)motor vehicles with out-of-state titles The motor vehicle dealer board does not have among its members - Ans → c)three employees from the enforcement division What is the highest fine per offense that the motor vehicle dealer board or an administrative law judge may impose on a dealer , who sells primarily vehicles that weigh less than 1,500 pounds - Ans → $1,000 Three of the following are characteristics of an off-premise permit. . Which one is not? - Ans → The permit cannot exceed six days except for the national western stock show, the colorado state fair, greely stampede Which of the following is a true statement regarding dealers and buyers? - Ans → B) a dealer shall clearly indicate on the costumer contract when a vehicle sold "as is" and without a guarantee When advertising a specific number of motor vehicles that same number of vehicles must have been invoiced to the dealer - Ans → A)True Dealers must either be self insured or have insurance for their vehicles - Ans → A)True In transit plates may be used on motor vehicles - Ans → D) consigned to wholesale auction dealers for transport from point of purchase to point of storage When a salesperson leaves a dealer, that dealer must do all of the following except - Ans → Immediately employ a new salesperson, licensed or not The license of a new or used dealer, wholesale auction dealer or wholesaler may be denied suspended, revoked or fined for all of the following grounds except - Ans → Employing a properly licensed salesperson The only items that can be added to an advertised price are - Ans → C) Dealer handling and preparation charges The license of a motor vehicle salesperson or a powersports salesperson may be denied, revoked, or suspended on any of the following grounds except: - Ans → D)using point of sale literature in advertising A buyer agent may - Ans → be retained or hired by a consumer to assist, represent, or act on behalf of such consumer in connection with the purchase or lease of a motor vehicle Three of the following are deceptive trade practices. Which of the following is not? - Ans → Delivering goods as promised A new or used motor vehicle dealer may legally do which of the following with a temporary permit? - Ans → Issue a permit for a demonstration drive by a consumer Re federal cash reporting rule requires dealers to file form 83000.... - Ans → 15 Days A new motor vehicle has three of the following characteristics. Which one doesn't it have? - Ans → D) a title A dealer wholesaler or salespersons convicted of any felony or any crime.. Has how many days to report conviction? - Ans → A ) 30 Days Three of the following are require when a dealer is advertising a lease of a a motor vehicle or powersports vehicle with a payment amount which one is not required? - Ans → D) disclosing the cost of leasing versus the cost of purchasing The definition of a used mother vehicle dealer or used powersports dealer includes which of the following ? - Ans → A person who attempts to negotiate a sale or lease of a used motor vehicle or powersports vehicle with the intent to make a profit or gain A customer's trade- in vehicle on a financed deal may be sold - Ans → D) only when the financing has been approved Wholesalers : - Ans → C)must use a name other than their personal name on all business documents A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business - Ans → False