AFIP Basic Certification Study Guide |
Questions and accurate Answers| New 2026/
2027 Update |Grade A (100% Correct)
Payment Packing
1.Can't give leg
2. UDAP claim
3. Against the law in CA
4. Against AFIP code of ethics
PowerBooking
1. violation of the dealer agreement
2. have to buy back the deal
3. problem if the car is repossessed
4. UDAP claim
5. Funding sources have software to identify equipment
6. Lose AFIP certification
3 Elements of a Contract
1. Offer
2. Acceptance
3. Consideration
Spanish Language Transactions (Buyers Guide)
, AFIP Basic Certification Study Guide |
Questions and accurate Answers| New 2026/
2027 Update |Grade A (100% Correct)
1. In the English version of the BG there is a setence in Spanish that tells a customer he can get a
Spanish BG if he wants one.
2. if the transaction is in the Spanish, the BG has to be in Spanish.
3. if your pursuing the Spanish market, you should have both English and Spanish buyers guides
on the cars.
Buyers Guide
The BG cannot be the sole source of warranty information
Implied Warranty State
*In an implied warranty state, state law will override the provisions of a service contract
2 Provisions on the BG
1. a website to get the history on the vehicle
2. a website about safety recalls
Car is on the lot marked AS-IS, but the sales person throws in a 3/3 warranty
You have to redo the BG
Complaints after the Sale on BG
1. Name of individual
, AFIP Basic Certification Study Guide |
Questions and accurate Answers| New 2026/
2027 Update |Grade A (100% Correct)
2. Phone number of that individual
3. Title of individual
3rd Party Warranty Co.
1. Dealer would record, "no dealer warranty."
2. Check the box for "other used vehicle warranty."
The max penalty for violating the Used Car Rule
$43972
What is considered cash?
1. cashier's check
2. Bank draft
3. Travelers check
4. money order
5. with a fact amount of less than $10k paid on a car costing more than $10k
6. Anything that represents cleared funds is not considered cash.
Buy Here Pay Here Dealer
total amount received in a 12 month period that exceeds $10k cash
Questions and accurate Answers| New 2026/
2027 Update |Grade A (100% Correct)
Payment Packing
1.Can't give leg
2. UDAP claim
3. Against the law in CA
4. Against AFIP code of ethics
PowerBooking
1. violation of the dealer agreement
2. have to buy back the deal
3. problem if the car is repossessed
4. UDAP claim
5. Funding sources have software to identify equipment
6. Lose AFIP certification
3 Elements of a Contract
1. Offer
2. Acceptance
3. Consideration
Spanish Language Transactions (Buyers Guide)
, AFIP Basic Certification Study Guide |
Questions and accurate Answers| New 2026/
2027 Update |Grade A (100% Correct)
1. In the English version of the BG there is a setence in Spanish that tells a customer he can get a
Spanish BG if he wants one.
2. if the transaction is in the Spanish, the BG has to be in Spanish.
3. if your pursuing the Spanish market, you should have both English and Spanish buyers guides
on the cars.
Buyers Guide
The BG cannot be the sole source of warranty information
Implied Warranty State
*In an implied warranty state, state law will override the provisions of a service contract
2 Provisions on the BG
1. a website to get the history on the vehicle
2. a website about safety recalls
Car is on the lot marked AS-IS, but the sales person throws in a 3/3 warranty
You have to redo the BG
Complaints after the Sale on BG
1. Name of individual
, AFIP Basic Certification Study Guide |
Questions and accurate Answers| New 2026/
2027 Update |Grade A (100% Correct)
2. Phone number of that individual
3. Title of individual
3rd Party Warranty Co.
1. Dealer would record, "no dealer warranty."
2. Check the box for "other used vehicle warranty."
The max penalty for violating the Used Car Rule
$43972
What is considered cash?
1. cashier's check
2. Bank draft
3. Travelers check
4. money order
5. with a fact amount of less than $10k paid on a car costing more than $10k
6. Anything that represents cleared funds is not considered cash.
Buy Here Pay Here Dealer
total amount received in a 12 month period that exceeds $10k cash
