Exam (elaborations)
CAR SALES TEST COLORADO - MASTERY EXAM QUESTIONS AND ANSWERS 2024
- Course
- Institution
CAR SALES TEST COLORADO - MASTERY EXAM QUESTIONS AND ANSWERS 2024
[Show more]
Content preview
CAR SALES TEST COLORADO - 2024MASTERY EXAM
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Which of the following is a true statement regarding dealers and buyers -
ANSWERS-a dealer shall clearly indicate on the customer contract when a vehicle
is sold "as-is and without a garantee
QUESTION 2
Which of the following is not proof of ownership of a motor vehicle for a Colorado
dealer - ANSWERS-Answer- A vehicle subject to lien on the title
2.0 Proof of Ownership Requirements
a. A used vehicle with a Colorado title:
2.1 All Colorado dealers or wholesalers must maintain the following evidence of
ownership for each
vehicle in their possession:
61
Auto Industry DivisionStudy Guide- Miscellaneous Statutes & Regulations
END OF
PAGE 1
, CAR SALES TEST COLORADO - 2024
MASTERY EXAM
2. Odometer disclosure if required.
A used vehicle with an out-of-state title:
Odometer disclosure if required; and,
Colorado Dealer's Out-of-State Vehicle Information Disclosure; and,
Colorado verification of Vehicle Identification Number.
A new vehicle assigned by MCO to a dealer or wholesaler:
MCO assigned or reassigned to a franchised dealer or wholesaler; and,
Odometer disclosure if required.
MCO reassigned to the franchised dealer or wholesaler; and,
Odometer disclosure if required; and,
Verification of vehicle identification number.
1. A Colorado title assigned to the dealer, wholesaler, or chain of ownership
evidenced by the Colorado Dealer's Bill(s) of Sale for a Motor Vehicle; and,
1. The out-of-state title assigned to the dealer, wholesaler, or out-of-state title
with proper chain of ownership; and,
3. No dealer or wholesaler shall hold a MCO unless that dealer or wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
d. A new vehicle assigned or re-assigned with its MCO from an out-of-state
franchised
dealer or wholesaler to a franchised Colorado dealer or wholesaler:
END OF
PAGE 2
, CAR SALES TEST COLORADO - 2024
MASTERY EXAM
4. No dealer or wholesaler shall hold a MCO unless that dealer or wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
e. If a title or an MCO has been surrendered by the dealer or wholesaler to a bank
or
financing organization or any other person as collateral under a Floor Plan
agreement,
the dealer or wholesaler must have in its possession evidence ac
QUESTION 3
A buyers agent may: - ANSWERS-Right answer- retained or hired by a consumer
for a fee or other thing of value to assist, represent, or
act on behalf of the consumer in connection with the purchase or lease of a
motor
vehicle / powersport vehicle.
Wrong Answers----------
-intentionally enter into a financial agreement with a motor vehicle salesperson
for the buyer's agent benefit
-be employed by a dealer or salesperson
END OF
PAGE 3
, CAR SALES TEST COLORADO - 2024
MASTERY EXAM
-coerce a motor vehicle dealer into providing installment financing with specified
financial institution
Found in----------------------------------------
"Buyer agent" means any person required to be licensed pursuant to this part 1
who is
retained or hired by a consumer for a fee or other thing of value to assist,
represent, or
act on behalf of the consumer in connection with the purchase or lease of a
motor
vehicle.
QUESTION 4
Motor vehicle and power sports salesperson are required to have a surety bond in
the amount of - ANSWERS-15,000
Motor vehicle salesperson's bond
END OF
PAGE 4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Teacher101. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now