State of Colorado Sales License Test
-for 60 days in a B2C sale-for 7 days in a B2B sale - ANS-A temp registration permit may be
issued:
"a reasonable number of attempts" to repair applied when the motor vehicle has been out of
service for repairs a cumulative total of 30 or more business days during the warranty term or 1
year from date of delivery - ANS-Which is true of the Colorado Lemon Law?
"With approved credit" - ANS-When advertising terms price conditions of sale of a car, dealers
may use the term:
~Amount or percentage of the down payment
~terms of repayment (car payment date)
~Annual percentage rate (interest rate of the loan) - ANS-Three of the following are required
when a dealer is advertising a lease of a motor vehicle with a payment amount
~Vehicles 10 years old or older~Vehicles having a gross empty weight more than 10,000
lbs~Vehicles not self propelled (Trailers) - ANS-Three of the following types of motor vehicles
are exempt from the truth in mileage act.
$15,000 - ANS-Motor vehicle and powersport salespeople are required to have a surety bond in
the amount of :
$500 - ANS-What is the highest fine per offense the dealer board may impose on dealers who
sell vehicles less than 1500 lbs?
1
An extension can only be issued but the DMV - ANS-How many temp permits may a dealer
issue for each roadworthy vehicle sold?
15 days - ANS-federal cash reporting requires dealers to file form 8300 with IRS within how
many days of receiving $10,000 cash?
30 Days - ANS-A dealer has how many days to facilitate delivery from the date of sale?
30 Days - ANS-A dealer wholesaler or salespersons convicted of any felony or any crime.. Has
how many days to report conviction?
5 years - ANS-Records of vehicles transfers and odometer statements must be retained for:
, A certificate of title has been issued - ANS-Which of the following would indicate a motor vehicle
is used
A dealer must offer a warranty on all motor vehicles sold - ANS-Which is a false statement
regarding dealers and buyers
a dealer shall clearly indicate on the costumer contract when a vehicle sold "as is" and without a
guarantee - ANS-Which of the following is a true statement regarding dealers and buyers?
a demo drive cannot exceed 7 days - ANS-Which of the following statements is true regarding
dealer demo plates?
A minimum of 12 hours per week - ANS-All motor vehicle dealers and powersports dealers must
be open:
A person who attempts to negotiate a sale or lease of a used motor vehicle or powersports
vehicle with the intent to make a profit or gain - ANS-The definition of a used mother vehicle
dealer or used powersports dealer includes which of the following ?
a person who attempts to negotiate a sale or lease of a used motor vehicle or powersports
vehicle with the intent to make a profit or gain - ANS-The definition of a used motor vehicle
dealer or used dealer includes which of the following?
a salesperson's verbal statement of the MSRP - ANS-An advertisement would NOT include
A title - ANS-A new motor vehicle has three of the following characteristics. Which one doesn't it
have?
A vehicle subject to a lien on the tile - ANS-Which of the following is acceptable proof of
ownership of a motor vehicle for a Colorado dealer?
a vehicle subject to a lien on the title - ANS-Which of the following is NOT proof of ownership for
a Motor Vehicle for a CO dealer?
ad that attracts consumers with a low-priced product, then tries to sell them a higher-priced
product - ANS-bait and switch is
advertising a salvaged vehicle while identifying that vehicle as salvaged - ANS-The license of a
Motor vehicle salesman may be revoked/suspended on all grounds EXCEPT:
all of the above
-license of dealer
-salesmen licenses
-for 60 days in a B2C sale-for 7 days in a B2B sale - ANS-A temp registration permit may be
issued:
"a reasonable number of attempts" to repair applied when the motor vehicle has been out of
service for repairs a cumulative total of 30 or more business days during the warranty term or 1
year from date of delivery - ANS-Which is true of the Colorado Lemon Law?
"With approved credit" - ANS-When advertising terms price conditions of sale of a car, dealers
may use the term:
~Amount or percentage of the down payment
~terms of repayment (car payment date)
~Annual percentage rate (interest rate of the loan) - ANS-Three of the following are required
when a dealer is advertising a lease of a motor vehicle with a payment amount
~Vehicles 10 years old or older~Vehicles having a gross empty weight more than 10,000
lbs~Vehicles not self propelled (Trailers) - ANS-Three of the following types of motor vehicles
are exempt from the truth in mileage act.
$15,000 - ANS-Motor vehicle and powersport salespeople are required to have a surety bond in
the amount of :
$500 - ANS-What is the highest fine per offense the dealer board may impose on dealers who
sell vehicles less than 1500 lbs?
1
An extension can only be issued but the DMV - ANS-How many temp permits may a dealer
issue for each roadworthy vehicle sold?
15 days - ANS-federal cash reporting requires dealers to file form 8300 with IRS within how
many days of receiving $10,000 cash?
30 Days - ANS-A dealer has how many days to facilitate delivery from the date of sale?
30 Days - ANS-A dealer wholesaler or salespersons convicted of any felony or any crime.. Has
how many days to report conviction?
5 years - ANS-Records of vehicles transfers and odometer statements must be retained for:
, A certificate of title has been issued - ANS-Which of the following would indicate a motor vehicle
is used
A dealer must offer a warranty on all motor vehicles sold - ANS-Which is a false statement
regarding dealers and buyers
a dealer shall clearly indicate on the costumer contract when a vehicle sold "as is" and without a
guarantee - ANS-Which of the following is a true statement regarding dealers and buyers?
a demo drive cannot exceed 7 days - ANS-Which of the following statements is true regarding
dealer demo plates?
A minimum of 12 hours per week - ANS-All motor vehicle dealers and powersports dealers must
be open:
A person who attempts to negotiate a sale or lease of a used motor vehicle or powersports
vehicle with the intent to make a profit or gain - ANS-The definition of a used mother vehicle
dealer or used powersports dealer includes which of the following ?
a person who attempts to negotiate a sale or lease of a used motor vehicle or powersports
vehicle with the intent to make a profit or gain - ANS-The definition of a used motor vehicle
dealer or used dealer includes which of the following?
a salesperson's verbal statement of the MSRP - ANS-An advertisement would NOT include
A title - ANS-A new motor vehicle has three of the following characteristics. Which one doesn't it
have?
A vehicle subject to a lien on the tile - ANS-Which of the following is acceptable proof of
ownership of a motor vehicle for a Colorado dealer?
a vehicle subject to a lien on the title - ANS-Which of the following is NOT proof of ownership for
a Motor Vehicle for a CO dealer?
ad that attracts consumers with a low-priced product, then tries to sell them a higher-priced
product - ANS-bait and switch is
advertising a salvaged vehicle while identifying that vehicle as salvaged - ANS-The license of a
Motor vehicle salesman may be revoked/suspended on all grounds EXCEPT:
all of the above
-license of dealer
-salesmen licenses
