Car Dealer License Test
Car Dealer License Test
Study online at https://quizlet.com/_1xz3zk
1. The national Motor Vehicle Title information System c. A red warning decal
requires which of the following? be placed on vehicles with
a. All warranty agreements be sent to DMV branded titles
b. All vehicles have a Car Fax
c. A red warning decal be placed on vehicles with
branded titles
d. Both A & B
2. when a dealer sells a vehicle that was consigned to a. provide the seller an
them to sell, they must accounting and payment
a. Provide the seller an accounting and payment within within 20 days of the sale
20 days of the sale
b. Test drive it before agreeing to sell it
c. Provide a warranty
d. None of the above
3. Which of he following are permitted methods for com- d. Both A & B
puting interest rates
a. The pre-computed Basis method
b. The simple Interest basis method
c. The Friedman Method
d. Both A & B
4. The maximum a dealer may charge a customer for a c. $50
smog test is:
a. $8
b. $12
c. $50
d. $45
5. The basic DMV transfer fee to transfer the title into the a. $15
buyer's name is
1/6
, Car Dealer License Test
Car Dealer License Test
Study online at https://quizlet.com/_1xz3zk
a. $15
b. $12
c. $80
d. $25
6. If the buyer defaults on a conditional sales contract, d. All of the above
the dealer may, subject to proper notification to the
buyer
a. Accelerate amount due
b. Repossess vehicle
c. Sell vehicle
d. All of the above
7. Which of the following are taxable in a vehicle sales c. Both A & B
transaction?
a. document preparation fee
b. $50 Smog fee paid to the seller/dealer
c. Both A & B
d. Insurance fees
8. Which of the following are not taxable in a vehicle sales d. All of the above
transaction?
a. Finance Charges
b. Insurance charges
c. Smog certificate fee (paid to the state)
d. All of the above
9. Buy here pay here (self-financing) dealers must: b. Offer 30 day or 1,000
a. Charge interest rates that are 20% less than 20% mile warranties, and put
above prime rate fair market value notices
b. Offer 30 day or 1,000 mile warranties, and put fair on their vehicles
market value notices on their vehicles
2/6
Car Dealer License Test
Study online at https://quizlet.com/_1xz3zk
1. The national Motor Vehicle Title information System c. A red warning decal
requires which of the following? be placed on vehicles with
a. All warranty agreements be sent to DMV branded titles
b. All vehicles have a Car Fax
c. A red warning decal be placed on vehicles with
branded titles
d. Both A & B
2. when a dealer sells a vehicle that was consigned to a. provide the seller an
them to sell, they must accounting and payment
a. Provide the seller an accounting and payment within within 20 days of the sale
20 days of the sale
b. Test drive it before agreeing to sell it
c. Provide a warranty
d. None of the above
3. Which of he following are permitted methods for com- d. Both A & B
puting interest rates
a. The pre-computed Basis method
b. The simple Interest basis method
c. The Friedman Method
d. Both A & B
4. The maximum a dealer may charge a customer for a c. $50
smog test is:
a. $8
b. $12
c. $50
d. $45
5. The basic DMV transfer fee to transfer the title into the a. $15
buyer's name is
1/6
, Car Dealer License Test
Car Dealer License Test
Study online at https://quizlet.com/_1xz3zk
a. $15
b. $12
c. $80
d. $25
6. If the buyer defaults on a conditional sales contract, d. All of the above
the dealer may, subject to proper notification to the
buyer
a. Accelerate amount due
b. Repossess vehicle
c. Sell vehicle
d. All of the above
7. Which of the following are taxable in a vehicle sales c. Both A & B
transaction?
a. document preparation fee
b. $50 Smog fee paid to the seller/dealer
c. Both A & B
d. Insurance fees
8. Which of the following are not taxable in a vehicle sales d. All of the above
transaction?
a. Finance Charges
b. Insurance charges
c. Smog certificate fee (paid to the state)
d. All of the above
9. Buy here pay here (self-financing) dealers must: b. Offer 30 day or 1,000
a. Charge interest rates that are 20% less than 20% mile warranties, and put
above prime rate fair market value notices
b. Offer 30 day or 1,000 mile warranties, and put fair on their vehicles
market value notices on their vehicles
2/6
