AFIP Exam Preparation – Study Smarter, Score
Higher.
1. Payment Packing 1.Can't give leg
2. UDAP claim
3. Against the law in CA
4. Against AFIP code of ethics
2. PowerBooking 1. violation of the dealer agreement
2. have to buy back the deal
3. problem if the car is repossessed
4. UDAP claim
5. Funding sources have software to identify equipment
6. Lose AFIP certification
3. 3 Elements 1. Otter
of a Contract
2. Acceptance
3. Consideration
4. Spanish Lan-
1. In the English version of the BG there is a setence in Spanish that tells
guage
a customer he can get a Spanish BG if he wants one.
Transac-
2. if the transaction is in the Spanish, the BG has to be in Spanish.
tions (Buyers
Guide) 3. if your pursuing the Spanish market, you should have both
English and Spanish buyers guides on the cars.
5. Buyers Guide The BG cannot be the sole source of warranty information
6. Implied *In an implied warranty state, state law will override the provisions of a
Warranty State
service contract
7. 2 Provisions
1. a website to get the history on the vehicle
on the BG
2. a website about safety
8. Car is on the
recalls You have to redo
lot marked AS-
IS, but the the BG
sales per-
, AFIP Exam Preparation – Study Smarter, Score
Higher.
son throws in
a 3/3
warranty
1. Name of individual
9. Complaints 2. Phone number of that individual
after the Sale 3. Title of individual
on BG
10. 3rd Party Warran- 1. Dealer would record, "no dealer warranty."
ty Co.
16. Suspension Transaction
11. The max
penalty for
violating the
Used Car
Rule
12. What is
consid- ered
cash?
13. Buy Here
Pay Here
Dealer
14. Standard for
re- lated
purchase
15. Tax Payer
ID number
, AFIP Exam Preparation – Study Smarter, Score
Higher.
2. Check the box for "other exceeds $10k cash
used vehicle warranty."
$43972 total amt received in a 24 hour period
1. SSN
1. cashier's check 2. Individual Taxpayer Number (ITN)
2. Bank draft 3. Employer ID Number (EIDN)
3. Travelers check
4. money order 1. Don't tell them that you are going to fill out the form, even if they
5. with a fact amount of ask.
less than $10k paid on a 2. You don't send a letter to the customer
car costing more than
$10k
6. Anythin
g that
represents
cleared funds
is not
considered
cash. total
amount
received in a
12 month
period that
Higher.
1. Payment Packing 1.Can't give leg
2. UDAP claim
3. Against the law in CA
4. Against AFIP code of ethics
2. PowerBooking 1. violation of the dealer agreement
2. have to buy back the deal
3. problem if the car is repossessed
4. UDAP claim
5. Funding sources have software to identify equipment
6. Lose AFIP certification
3. 3 Elements 1. Otter
of a Contract
2. Acceptance
3. Consideration
4. Spanish Lan-
1. In the English version of the BG there is a setence in Spanish that tells
guage
a customer he can get a Spanish BG if he wants one.
Transac-
2. if the transaction is in the Spanish, the BG has to be in Spanish.
tions (Buyers
Guide) 3. if your pursuing the Spanish market, you should have both
English and Spanish buyers guides on the cars.
5. Buyers Guide The BG cannot be the sole source of warranty information
6. Implied *In an implied warranty state, state law will override the provisions of a
Warranty State
service contract
7. 2 Provisions
1. a website to get the history on the vehicle
on the BG
2. a website about safety
8. Car is on the
recalls You have to redo
lot marked AS-
IS, but the the BG
sales per-
, AFIP Exam Preparation – Study Smarter, Score
Higher.
son throws in
a 3/3
warranty
1. Name of individual
9. Complaints 2. Phone number of that individual
after the Sale 3. Title of individual
on BG
10. 3rd Party Warran- 1. Dealer would record, "no dealer warranty."
ty Co.
16. Suspension Transaction
11. The max
penalty for
violating the
Used Car
Rule
12. What is
consid- ered
cash?
13. Buy Here
Pay Here
Dealer
14. Standard for
re- lated
purchase
15. Tax Payer
ID number
, AFIP Exam Preparation – Study Smarter, Score
Higher.
2. Check the box for "other exceeds $10k cash
used vehicle warranty."
$43972 total amt received in a 24 hour period
1. SSN
1. cashier's check 2. Individual Taxpayer Number (ITN)
2. Bank draft 3. Employer ID Number (EIDN)
3. Travelers check
4. money order 1. Don't tell them that you are going to fill out the form, even if they
5. with a fact amount of ask.
less than $10k paid on a 2. You don't send a letter to the customer
car costing more than
$10k
6. Anythin
g that
represents
cleared funds
is not
considered
cash. total
amount
received in a
12 month
period that
