State of Colorado sales license Test (Pearls) Exam Questions With 100% Verified Solutions

State of Colorado sales license Test (Pearls) Exam Questions With 100% Verified Solutions Three of the following are required to be disclosed in an advertisement when a dealer is advertising a close-end credit sale or a motor vehicle or power sport vehicle with a down payment amount, payment amount, number of payment, period of repayment or amount of financing charge. Which one is NOT required? - ANSWER (C) amount of percentage of the down payment Three of the following are deceptive trade of practices. Which one of the following is Not? - ANSWER (D) delivering goods as promised Member of motor vehicle dealer board must - ANSWER (C) be a resident of the state for at least 5 years Depot plates may be used during normal business hours to transport a motor vehicle - ANSWER (D) all the above The license of a motor vehicle sales person or a powersport salesperson may be denied ,revoked , or suspended on any of the following EXCEPT? - ANSWER (A) advertising a salvage vehicle while identifying the vehicle as salvage vehicle A dealer is required to conspicuously display in there place of business the license of each sale person employed by the dealer - ANSWER (A)true The license of a motor Sale person or powersport sale person me be denied, revoked or suspended on any of the following ground except - ANSWER (B) advertising a salvage vehicle while identifying the vehicle as salvage A new motor vehicle has three of the following characteristics. Which one doesn't it have? - ANSWER (B) title Which of the following step are required to properly and legally repossess a motor vehicle - ANSWER (A) effect a lien creating a security interest A dealer is responsible for taking written actions to attempt to correct a misleading advertisement placed by a manufacturer if the advertisement contains the dealer name - ANSWER (B) False A sales person can change dealer ship during a license year provided that a change of employer notification form and fee is summited to the board. It is unlawful for such a sales person to act as a motor vehicle sales person of power sport sale person until a new liscenes is procured - ANSWER False All motor vehicle dealer and powersport dealer must post clear , legible signs on their principle place of businesses if? - ANSWER (B) if they will be open less than 40 hour per week The motor vehicle dealer board is authorizing and empowered to - ANSWER (D) all the above -amends and repeal rules, regulation and prevision If a dealer receive more than 10,000 cash in a single transaction, they must - ANSWER (A) file a federal form with the internal revenue with thin 15 days Three of the following are required when a dealer is advertising a lease of motor vehicles or powersport vehicle with a payment amount, which is not required - ANSWER -amount or percentage down payment -terms of repayment (car payment date) Annul percentage rate( interest rate and loan ) The liscnese of a new or used dealer, whole sale auction or wholesale dealer maybe denied suspended revoke or fined for all the following except - ANSWER Attempting to negotiate the sale or lease or a motor vehicle with the intent to make profit The listener of a motor vehicle sale person or a powersport sale person maybe denied revoked or suspended on the following grounds - ANSWER -unfitness of character -breaking the law -false info Ect Advertisement would include - ANSWER Licensee name with the world dealer Or All the above By obtaining an off person permit , dealer may sell motor vehicle at another location on a sunday - ANSWER -FALSE -no sale of vehicle should be done on Sunday