STATE OF COLORADO SALES LICENSE
TEST QUESTIONS & ANSWERS
Three of the following types of motor vehicles are exempt from the truth in
mileage act. - correct-answer-~Vehicles 10 years old or older~Vehicles having
a gross empty weight more than 10,000 lbs~Vehicles not self propelled
(Trailers)
A buyer agent - correct-answer-is retained or hired by a consumer to
assist/represent/act on behalf of such consumer in connection with the purchase
of lease of a Motor vehicle
Local law enforcement agencies must be notified within 4 hours after the
repossession of a Motor Vehicle - correct-answer-False
1 hour
The license of a new or used dealer/Wholesaler may be denied/suspended
/revoked /fined for the following - correct-answer-Making a material
misstatement in an application of license
A customer's trade-in vehicle on a financed deal may be sold - correct-
answer- Only when the financing has been approved and the contract binding
has been signed
Which is NOT required when advertising a closed end credit sale? -
correct- answer-Tax Rate
, Which is not a deceptive trade practice? - correct-answer-Disclosing to the
purchaser in writing prior to the sale that a vehicle is a salvage
The Motor Vehicle dealer board may decide how large a fine to impose on a
dealer who sells vehicles <1500lbs, as long as it does not exceed $5,000 -
correct- answer-False
$10,000
The Motor Vehicle Dealer board is authorized and empowered to -
correct- answer-All of the above
-propose fees
-order hearing
-investigate
the following must be conspicuously displayed in the dealers place of
business? - correct-answer-all of the above
-license of dealer
-salesmen licenses
-name of dealership license
Records of vehicle transfers and odometer statements must be kept for 5 years
- correct-answer-TRUE
An advertisement would NOT include - correct-answer-a salesperson's verbal
statement of the MSRP
TEST QUESTIONS & ANSWERS
Three of the following types of motor vehicles are exempt from the truth in
mileage act. - correct-answer-~Vehicles 10 years old or older~Vehicles having
a gross empty weight more than 10,000 lbs~Vehicles not self propelled
(Trailers)
A buyer agent - correct-answer-is retained or hired by a consumer to
assist/represent/act on behalf of such consumer in connection with the purchase
of lease of a Motor vehicle
Local law enforcement agencies must be notified within 4 hours after the
repossession of a Motor Vehicle - correct-answer-False
1 hour
The license of a new or used dealer/Wholesaler may be denied/suspended
/revoked /fined for the following - correct-answer-Making a material
misstatement in an application of license
A customer's trade-in vehicle on a financed deal may be sold - correct-
answer- Only when the financing has been approved and the contract binding
has been signed
Which is NOT required when advertising a closed end credit sale? -
correct- answer-Tax Rate
, Which is not a deceptive trade practice? - correct-answer-Disclosing to the
purchaser in writing prior to the sale that a vehicle is a salvage
The Motor Vehicle dealer board may decide how large a fine to impose on a
dealer who sells vehicles <1500lbs, as long as it does not exceed $5,000 -
correct- answer-False
$10,000
The Motor Vehicle Dealer board is authorized and empowered to -
correct- answer-All of the above
-propose fees
-order hearing
-investigate
the following must be conspicuously displayed in the dealers place of
business? - correct-answer-all of the above
-license of dealer
-salesmen licenses
-name of dealership license
Records of vehicle transfers and odometer statements must be kept for 5 years
- correct-answer-TRUE
An advertisement would NOT include - correct-answer-a salesperson's verbal
statement of the MSRP
