AFIP Cert 2025: Questions With Step By Step
Solutions
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Terms in this set (125)
The three elements of a Offer, acceptance, and consideration
contract
Cannot enforce a contract signed by the customer.
against a customer unless
it is
a. English version of buyers guide there's a sentence
Under the Revised Used
that says if you want a Spanish version just ask for it
Car Rule the requirements
b. If the sales transaction is covered in Spanish the
regarding Spanish
buyer's guide must be in Spanish
Language transaction
c. Buyers guide has to be on the vehicle if Spanish
includes which of the
language anytime it can be viewed by the public for
following provision
purpose of purchasing
Revised Buyers guide has 1. Website to find history of vehicle
2 websites: 2. Website for safety recalls
(True/False) If vehicle True
marked on lot as is, in
order to close the deal
throw in warranty then the
salesperson must
complete new buyers
guide it must reflect the
conditions of the sale at
time of sale.
,Information provided for Put the name, phone number, and title on the
complaints after sale contract.
contact
If dealer goes to third 1. On the top, check the box that says no dealer
party provider and buys warranty
warranties, how would you then check box 3/4 way down that says other used
mark that on the buyer's vehicle warranty
guide?
Penalty for violating used $51,744 (2024)
car rule max?
Less than $10k. Can be:
- Cashiers check
Cash is: - Money order
- Travelers check
- Bank draft
1. Someone brings in cash, but credit is so bad have to
give it back
Have to fill out form (IRS 2. On buy here pay dealer within a 12 mo period. The
8300 form) when: amount paid is less than have to fill out the form here
the total amount received in cash
3. Related cash transactions occur in 24 hour period
SSN Number
How do you record the
ITIN
customer on the IRS 8300
Employer Identification Number (Federal TaxID
Form?
Number)
If you have a suspicious 1. Can't tell customer you're filling out the form even if
transaction (IRS 8300 they ask you
Form)... 2. Don't send a written notice to the customer
Leave that section blank and write customer refused
to provide SSN. Put drivers license on form and sell
If customer refuses to give the car. You have to tell them what they have to do
SSN (IRS 8300 Form)... relative to that form. You have to say mr. jones this is
what is required at this point. Cant just assume they
understood what was in the instructions.
, Non resident alien, how Drivers License Number and Passport Number
do you record them on
the IRS 8300 Form?
If you neglect to send in Penalty is $310 per return.
the IRS 8300 Form
Criminal Penalty for Fine up to 100k for individual
willfully filing the IRS 8300 Fine up to 500k for corporation
Form with false regard to and/or up to 3 years in jail plus the cost of
material matter? prosecution.
You have to give a copy of every CUSTOMER (not consumer)
IRS 8300 to ________.
Safe harbor says if you print form off website called form builder and all you
interpret the law correctly can add is your corporate logo.
and apply correctly sue
government. For dealer to
have safe harbor
protection needs to
(Safe Guard Rule) True
Anything that can be
found on the internet or in
the phone book is public
information
a. Ensures the security and confidentiality of
consumer and customer information
b. Protects information against anticipated threat or
The objective of the
hazard
safeguard rule includes...
c. Protects against unauthorized access
d. DOES NOT require confirming information given
was actually related (this is the red flag rule)
To have a program you 1. A Corporate Compliance Officer
need to have... 2. Information Security Program
Solutions
Save
Terms in this set (125)
The three elements of a Offer, acceptance, and consideration
contract
Cannot enforce a contract signed by the customer.
against a customer unless
it is
a. English version of buyers guide there's a sentence
Under the Revised Used
that says if you want a Spanish version just ask for it
Car Rule the requirements
b. If the sales transaction is covered in Spanish the
regarding Spanish
buyer's guide must be in Spanish
Language transaction
c. Buyers guide has to be on the vehicle if Spanish
includes which of the
language anytime it can be viewed by the public for
following provision
purpose of purchasing
Revised Buyers guide has 1. Website to find history of vehicle
2 websites: 2. Website for safety recalls
(True/False) If vehicle True
marked on lot as is, in
order to close the deal
throw in warranty then the
salesperson must
complete new buyers
guide it must reflect the
conditions of the sale at
time of sale.
,Information provided for Put the name, phone number, and title on the
complaints after sale contract.
contact
If dealer goes to third 1. On the top, check the box that says no dealer
party provider and buys warranty
warranties, how would you then check box 3/4 way down that says other used
mark that on the buyer's vehicle warranty
guide?
Penalty for violating used $51,744 (2024)
car rule max?
Less than $10k. Can be:
- Cashiers check
Cash is: - Money order
- Travelers check
- Bank draft
1. Someone brings in cash, but credit is so bad have to
give it back
Have to fill out form (IRS 2. On buy here pay dealer within a 12 mo period. The
8300 form) when: amount paid is less than have to fill out the form here
the total amount received in cash
3. Related cash transactions occur in 24 hour period
SSN Number
How do you record the
ITIN
customer on the IRS 8300
Employer Identification Number (Federal TaxID
Form?
Number)
If you have a suspicious 1. Can't tell customer you're filling out the form even if
transaction (IRS 8300 they ask you
Form)... 2. Don't send a written notice to the customer
Leave that section blank and write customer refused
to provide SSN. Put drivers license on form and sell
If customer refuses to give the car. You have to tell them what they have to do
SSN (IRS 8300 Form)... relative to that form. You have to say mr. jones this is
what is required at this point. Cant just assume they
understood what was in the instructions.
, Non resident alien, how Drivers License Number and Passport Number
do you record them on
the IRS 8300 Form?
If you neglect to send in Penalty is $310 per return.
the IRS 8300 Form
Criminal Penalty for Fine up to 100k for individual
willfully filing the IRS 8300 Fine up to 500k for corporation
Form with false regard to and/or up to 3 years in jail plus the cost of
material matter? prosecution.
You have to give a copy of every CUSTOMER (not consumer)
IRS 8300 to ________.
Safe harbor says if you print form off website called form builder and all you
interpret the law correctly can add is your corporate logo.
and apply correctly sue
government. For dealer to
have safe harbor
protection needs to
(Safe Guard Rule) True
Anything that can be
found on the internet or in
the phone book is public
information
a. Ensures the security and confidentiality of
consumer and customer information
b. Protects information against anticipated threat or
The objective of the
hazard
safeguard rule includes...
c. Protects against unauthorized access
d. DOES NOT require confirming information given
was actually related (this is the red flag rule)
To have a program you 1. A Corporate Compliance Officer
need to have... 2. Information Security Program
