Dealer Test Practice UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS
The Virginia Code defines a dealer, in part, as: 1) One who sells 5 or more vehicles within a 12-month period.
2) One who buys, sells, and exchanges vehicles.
In order to qualify for licensing, the dealer's established 1) Meet all local zoning regulations
place of business must: 2) Have at least 250 square feet of sales and office space devoted exclusively to
the dealership
3) Have contiguous space designated for the exclusive use of the dealership
adequate to permit the display of at least 10 vehicles
4) Have a valid email and an internet connection in the name of the dealership
If you intend to change the location of your dealership In writing, 30 days in advance
(move), you must notify the Board:
Among other items, the following are required before a 1) Zoning approval
change of location (move) can be completed: 2) Successful inspection by the Board of the new location
When an insurance company takes possession of a Salvage Certificate or non-repairable certificate
vehicle as the result of a claim, the insurance company
applies for and receives a:
If the dealer-operator dies, becomes disabled, retires, is 120 days
removed, or for any other cause ceases to act as the
dealer-operator, a new dealer-operator must be in place
within:
if a salvage vehicle is rebuilt, then a: Title branded "rebuilt" is issued.
A dealer is exempt from paying Virginia sales tax on: Parts and accessories purchased for and installed on a vehicle in inventory
, Dealers are required to notify the Dealer Board that a No later than the tenth day following the month the salesperson left the
salesperson in no longer working for the dealership: dealership
Under the Consumer Protection Act, civil penalties may Up to $5,000 plus attorney fees, for violating an injunction
be assessed:
The Manufacturers Warranty Adjustment Act deals with: Policy adjustments outside of the manufacturers warranty
On extended service contracts, for parts and labor, the Retail sales tax on one half of the retail cost of the service contract
dealer must collect:
The entity which usually has the primary responsibility for Manufacturer
payment of damages in the event of a "Lemon Law"
violation is the:
How many days does a lien-holder have to surrender a 10 days
title to the person legally entitled to it after the lien has
been satisfied:
Application for renewal of licenses received by the Board Will be renewed at a fee equal to 150% of the "on time" fee
within 30 days after the license expiration date:
Application for renewal of licenses received by the Board Will be considered a new or "original" application
or postmarked more than 30 days after the license
expiration date:
True OR False? TRUE
A MVDB Transaction Recovery Fund claim is limited to
$25,000 and shall be increased by the percentage
increase over the most recently available unadjusted 12-
month period in the Consumer Price Index for used cars
and trucks as published by the U.S. Bureau of labor
statistics or any successor index
The total of all claims paid by the Motor Vehicle 4 times the amount of a single claim
Transaction Recovery Fund resulting from fraudulent
actions by an individual dealer is:
Virginia Statute calls for the maximum late charge under 5% of the payment after the seventh day from the date the payment was due
an installment sales contract to be assessed at:
A dealer who is "on-line" with DMV: Must pass the vendor fee on to the customer
Dealers who are not "on-line" with DMV pay a transaction Cannot pass it on the to the customer
fee and:
To issue a second or third set of Print on Demand (PoD) You are only allowed to print one se of Print On Demand (PoD) temporary tags
temporary tags for vehicles to be titled in Virginia, the
dealer must:
The Virginia Code defines a dealer, in part, as: 1) One who sells 5 or more vehicles within a 12-month period.
2) One who buys, sells, and exchanges vehicles.
In order to qualify for licensing, the dealer's established 1) Meet all local zoning regulations
place of business must: 2) Have at least 250 square feet of sales and office space devoted exclusively to
the dealership
3) Have contiguous space designated for the exclusive use of the dealership
adequate to permit the display of at least 10 vehicles
4) Have a valid email and an internet connection in the name of the dealership
If you intend to change the location of your dealership In writing, 30 days in advance
(move), you must notify the Board:
Among other items, the following are required before a 1) Zoning approval
change of location (move) can be completed: 2) Successful inspection by the Board of the new location
When an insurance company takes possession of a Salvage Certificate or non-repairable certificate
vehicle as the result of a claim, the insurance company
applies for and receives a:
If the dealer-operator dies, becomes disabled, retires, is 120 days
removed, or for any other cause ceases to act as the
dealer-operator, a new dealer-operator must be in place
within:
if a salvage vehicle is rebuilt, then a: Title branded "rebuilt" is issued.
A dealer is exempt from paying Virginia sales tax on: Parts and accessories purchased for and installed on a vehicle in inventory
, Dealers are required to notify the Dealer Board that a No later than the tenth day following the month the salesperson left the
salesperson in no longer working for the dealership: dealership
Under the Consumer Protection Act, civil penalties may Up to $5,000 plus attorney fees, for violating an injunction
be assessed:
The Manufacturers Warranty Adjustment Act deals with: Policy adjustments outside of the manufacturers warranty
On extended service contracts, for parts and labor, the Retail sales tax on one half of the retail cost of the service contract
dealer must collect:
The entity which usually has the primary responsibility for Manufacturer
payment of damages in the event of a "Lemon Law"
violation is the:
How many days does a lien-holder have to surrender a 10 days
title to the person legally entitled to it after the lien has
been satisfied:
Application for renewal of licenses received by the Board Will be renewed at a fee equal to 150% of the "on time" fee
within 30 days after the license expiration date:
Application for renewal of licenses received by the Board Will be considered a new or "original" application
or postmarked more than 30 days after the license
expiration date:
True OR False? TRUE
A MVDB Transaction Recovery Fund claim is limited to
$25,000 and shall be increased by the percentage
increase over the most recently available unadjusted 12-
month period in the Consumer Price Index for used cars
and trucks as published by the U.S. Bureau of labor
statistics or any successor index
The total of all claims paid by the Motor Vehicle 4 times the amount of a single claim
Transaction Recovery Fund resulting from fraudulent
actions by an individual dealer is:
Virginia Statute calls for the maximum late charge under 5% of the payment after the seventh day from the date the payment was due
an installment sales contract to be assessed at:
A dealer who is "on-line" with DMV: Must pass the vendor fee on to the customer
Dealers who are not "on-line" with DMV pay a transaction Cannot pass it on the to the customer
fee and:
To issue a second or third set of Print on Demand (PoD) You are only allowed to print one se of Print On Demand (PoD) temporary tags
temporary tags for vehicles to be titled in Virginia, the
dealer must:
