SALES MASTERY TEST (SET
QUESTION 2) QUESTIONS &
ANSWERS(RATED A+)
The Motor Vehicle Dealer Board is authorized and empowered to: - ANSWERissue
or deny motor vehicle dealer and salesperson licenses
he Motor Vehicle Dealer Board is authorized and empowered to: - ANSWERd. all of
the above
Dealers may be administratively fined by the Dealer Board up to what amount
foreach separate offense? - ANSWERshall not exceed ten thousand dollars for each
separate offense
New and used motor vehicle dealers, wholesalers and wholesale auction dealers
arerequired to have a surety bond in the amount of ? - ANSWER$50,000 for
Dealer/Wholesaler
Motor vehicle salespersons are required to have a surety bond in the amount of? -
ANSWER$15,000
Selling ___ or more vehicles or offering for sale more than ___ vehicles at the
sameaddress or telephone number in any one calendar year, shall be prima facie
evidence that - ANSWERA person is engaged in the business of selling motor
vehicles.
The definition of a used motor vehicle dealer includes which of the following? -
ANSWER"Used motor vehicle dealer" means any person who, for commission or
with intent to make a profit sells used cars.
Wholesalers may: - ANSWERmake a profit or gain selling to dealers and
wholesalers
Three of the following are characteristics of an off-premise permit. Which one isnot?
- ANSWERthe permit could be used for a permanent second location
All motor vehicle dealers and used motor vehicle dealers must be open - ANSWERa.
a minimum of 12 hours per week Hours of operation posted and opened at least 3
days per week for a continuous four hours per day between 8 AM and 9 PM.
A buyer agent may: - ANSWERbe retained or hired by a consumer to assist,
represent, or act on behalf of such
A new motor vehicle has three of the following characteristics. Which onedoesn't it
have? - ANSWERmotor vehicle that is titled
, Which of the following would always indicate a motor vehicle is used? - ANSWERa
vehicle that is titled
Since 1985, the Federal Trade Commission's Used Car Rule has required that
dealersprominently and conspicuously display the __________________ on every
used car orlight truck offered for sale. This is also known as the "as is" sticker. -
ANSWERBuyers Guide
the license of a motor vehicle salesperson may be denied, revoked, or suspendedon
the following grounds except: - ANSWERadvertising a salvaged vehicle that
identifies that vehicle as a salvage vehicle
The license of a motor vehicle salesperson may be denied, revoked, or
suspendedon the following grounds except: - ANSWER. not having a valid Colorado
drivers license
The license of a motor vehicle salesperson may be denied, revoked, or
suspendedon the following grounds except - ANSWERto engage as a licensee
without having in force a good and sufficient bond withcorporate surety
A dealer, wholesaler or salesperson who is convicted of any felony or any
crimepursuant to Article 3, 4 or 5 of Title 18, C.R.S. (felony or criminal misdemeanor)
or likecrime pursuant to federal law or law of any other state has _____ days to give
the DealerBoard written notice of such conviction? - ANSWERthirty days after such
conviction
When a salesperson voluntarily leaves or is discharged from a dealership, the
dealermust immediately return that salesperson's _________ to the Dealer Board. -
ANSWERmotor vehicle dealer or used motor vehicle dealer who last employed the
salesperson shallconfiscate and return such salesperson's license to the board
A salesperson can change dealerships during the licensing year provided that
aChange of Employer Notification form is submitted to the Board. It is unlawful for
suchsalesperson to act as a motor vehicle salesperson until a new _________ is
procured. - ANSWERIt shall be unlawful for such salesperson to act as amotor
vehicle salesperson until a new license is procured.
three of the following are required when a dealer is advertising a lease of a
motorvehicle with a payment amount. Which one is not required? -
ANSWERdisclosing the cost of leasing versus the cost of purchasing.
An advertisement would include: - ANSWERall of the above
Which of the following must be identified in advertising? - ANSWERall of the above
he only items that can be added to an advertised price are: - ANSWERnone of the
above
QUESTION 2) QUESTIONS &
ANSWERS(RATED A+)
The Motor Vehicle Dealer Board is authorized and empowered to: - ANSWERissue
or deny motor vehicle dealer and salesperson licenses
he Motor Vehicle Dealer Board is authorized and empowered to: - ANSWERd. all of
the above
Dealers may be administratively fined by the Dealer Board up to what amount
foreach separate offense? - ANSWERshall not exceed ten thousand dollars for each
separate offense
New and used motor vehicle dealers, wholesalers and wholesale auction dealers
arerequired to have a surety bond in the amount of ? - ANSWER$50,000 for
Dealer/Wholesaler
Motor vehicle salespersons are required to have a surety bond in the amount of? -
ANSWER$15,000
Selling ___ or more vehicles or offering for sale more than ___ vehicles at the
sameaddress or telephone number in any one calendar year, shall be prima facie
evidence that - ANSWERA person is engaged in the business of selling motor
vehicles.
The definition of a used motor vehicle dealer includes which of the following? -
ANSWER"Used motor vehicle dealer" means any person who, for commission or
with intent to make a profit sells used cars.
Wholesalers may: - ANSWERmake a profit or gain selling to dealers and
wholesalers
Three of the following are characteristics of an off-premise permit. Which one isnot?
- ANSWERthe permit could be used for a permanent second location
All motor vehicle dealers and used motor vehicle dealers must be open - ANSWERa.
a minimum of 12 hours per week Hours of operation posted and opened at least 3
days per week for a continuous four hours per day between 8 AM and 9 PM.
A buyer agent may: - ANSWERbe retained or hired by a consumer to assist,
represent, or act on behalf of such
A new motor vehicle has three of the following characteristics. Which onedoesn't it
have? - ANSWERmotor vehicle that is titled
, Which of the following would always indicate a motor vehicle is used? - ANSWERa
vehicle that is titled
Since 1985, the Federal Trade Commission's Used Car Rule has required that
dealersprominently and conspicuously display the __________________ on every
used car orlight truck offered for sale. This is also known as the "as is" sticker. -
ANSWERBuyers Guide
the license of a motor vehicle salesperson may be denied, revoked, or suspendedon
the following grounds except: - ANSWERadvertising a salvaged vehicle that
identifies that vehicle as a salvage vehicle
The license of a motor vehicle salesperson may be denied, revoked, or
suspendedon the following grounds except: - ANSWER. not having a valid Colorado
drivers license
The license of a motor vehicle salesperson may be denied, revoked, or
suspendedon the following grounds except - ANSWERto engage as a licensee
without having in force a good and sufficient bond withcorporate surety
A dealer, wholesaler or salesperson who is convicted of any felony or any
crimepursuant to Article 3, 4 or 5 of Title 18, C.R.S. (felony or criminal misdemeanor)
or likecrime pursuant to federal law or law of any other state has _____ days to give
the DealerBoard written notice of such conviction? - ANSWERthirty days after such
conviction
When a salesperson voluntarily leaves or is discharged from a dealership, the
dealermust immediately return that salesperson's _________ to the Dealer Board. -
ANSWERmotor vehicle dealer or used motor vehicle dealer who last employed the
salesperson shallconfiscate and return such salesperson's license to the board
A salesperson can change dealerships during the licensing year provided that
aChange of Employer Notification form is submitted to the Board. It is unlawful for
suchsalesperson to act as a motor vehicle salesperson until a new _________ is
procured. - ANSWERIt shall be unlawful for such salesperson to act as amotor
vehicle salesperson until a new license is procured.
three of the following are required when a dealer is advertising a lease of a
motorvehicle with a payment amount. Which one is not required? -
ANSWERdisclosing the cost of leasing versus the cost of purchasing.
An advertisement would include: - ANSWERall of the above
Which of the following must be identified in advertising? - ANSWERall of the above
he only items that can be added to an advertised price are: - ANSWERnone of the
above
