Motor Vehicle Sales License (100% Errorless Answers)

motor vehicle dealer board correct answers Regulated in 1945, 9 board members who are residents of state for at least 5 years 3 new car 3 used car 3 members of the public Serve three year terms. Appointed by governor The board is empowered to correct answers Promulgate amend and repeal rules regulations and provisions for the industry. TRUE OR FALSE: the board can issue or deny license for any motor vehicle dealer. correct answers True When can the board order an administrative hearing? correct answers When they believe there is probable cause that a violation occurred The board may impose a fine up to correct answers 10,000$ for each offense The auto industry division correct answers Acts as enforcement to the board Different types of license correct answers New and used, wholesaler, wholesale auction dealer, buyer agent and salesperson True or false: it is not a violation for any salesperson to sell without the proper license correct answers False it is a violation Surety bonds correct answers Protect citizens against illegal acts by licensees for example: not honoring a written agreement When should surety bonds remain in force? correct answers During the licensing period It is required to have bonds in the amount of correct answers $50,000 or 15,000 for wholesaler True or false: the dealer or salesperson can be personally liable for any proven claim or judgement in excess of the bond correct answers True New motor vehicle dealer correct answers Is a person who makes commissions to make a profit selling new or used vehicles Which is not included with a new motor vehicle dealer A.Receivers, trustees, admins B. Public officers performing duties