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WISCONSIN CAR SALES TEST FOR WISCONSIN AUTO SALESPERSON LICENSE | ALL QUESTIONS AND CORRECT ANSWERS | LATEST VERSION | GRADED A+ | VERIFIED ANSWERS | JUST RELEASED£21.22
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WISCONSIN CAR SALES TEST FOR WISCONSIN AUTO SALESPERSON LICENSE | ALL QUESTIONS AND CORRECT ANSWERS | LATEST VERSION | GRADED A+ | VERIFIED ANSWERS | JUST RELEASED
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Module
WISCONSIN CAR SALES
Institution
WISCONSIN CAR SALES
WISCONSIN CAR SALES TEST FOR WISCONSIN AUTO SALESPERSON LICENSE | ALL QUESTIONS AND CORRECT ANSWERS | LATEST VERSION | GRADED A+ | VERIFIED ANSWERS | JUST RELEASED
WISCONSIN CAR SALES TEST FOR
WISCONSIN AUTO SALESPERSON LICENSE |
ALL QUESTIONS AND CORRECT ANSWERS |
LATEST VERSION | GRADED A+ | VERIFIED
ANSWERS | JUST RELEASED
Who needs a motor vehicle salesperson license? ------CORRECT
ANSWER---------------anyone who wants to sell/lease vehicles in Wisconsin
What are the requirements for a salesperson license? ------CORRECT
ANSWER---------------- 18 + years old
- agree to follow the "good faith" salesperson standards
- familiar to sales contract laws
How do you renew your license? ------CORRECT ANSWER---------------
Your employer renews the license and pays the fee. There is no written text
for renewals
How do you get a duplicate salesperson license? ------CORRECT
ANSWER---------------Employer completes the application for your
lost/destroyed licenses
What happens when you change dealerships? ------CORRECT ANSWER---
------------during your licensed period you give your license o the former
employer and complete a new application at the new place of employment
,What do you do when you terminate emplyment? ------CORRECT
ANSWER---------------when you terminate employment you give your
license to your employer before leaving
What is a lapsed license? ------CORRECT ANSWER---------------when your
WI license expired more than 5 years ago. you will need to retake the
written test. fee and application is the same as first time applicants
What happens if there's a criminal conviction? ------CORRECT ANSWER---
------------under most circumstances you may be licensed even if you are
convicted of a crime. the dealer/agent will investigate before approving or
denying your license.
What do you do if you were Denied? ------CORRECT ANSWER---------------
if your application on a motor vehicle salesperson license is declined you
may appeal to the division of hearing and appeals. if your application is
denied you'll receive a denial letter which contains reasons why and
instructions on how to get an appeal
What is a Dealership group? ------CORRECT ANSWER---------------A
dealership group is 2 or more dealerships with the same majority owner.
What arent you allowed to do when Advertising? ------CORRECT
ANSWER---------------Using False, deceptive or misleading advertising or
representations to induce the purchaser of a motor vehicle is an unfair
proactive and is prohibited
,What must you advertise for vehicle prices? ------CORRECT ANSWER------
---------Ad price must include all charges except the sales, title and
registration fee. post advertised prices on the vehicle. Do NOT use phrases
like "write your own deal" or "name your own price" because they mislead
customers
What is the new vehicle discount? ------CORRECT ANSWER---------------
you may only advertise new vehicles using terms such as "invoice" or
"cost" when you disclose what the actual dealer cost is or may be less than
due to factory hold back, rebates, incentives or other discounts
"Free" Merchandise ------CORRECT ANSWER---------------Do not use the
word "free" in advertising if the customer needs to purchase something to
receive the "free" merchandise
Trade-in Allowance ------CORRECT ANSWER---------------You are not
allowed to use phrases such as "we will pay you up to" "appraise your own
vehicle" or "as much as" when advertising an allowance for trade in
What do you need on your advertisements? ------CORRECT ANSWER------
---------When advertising vehicles, include the dealer name
What does the anti-structuring provision of the IRS cash reporting rule
prohibit? ------CORRECT ANSWER---------------Advising customers on how
to get around the rule
In financing a vehicle on an installment sales contract, the APR stands for:
------CORRECT ANSWER---------------Annual percentage rate
, Finance charges must be stated in: ------CORRECT ANSWER---------------
Annual percentage rate
Full disclosure of credit terms must be made: ------CORRECT ANSWER----
-----------Before a sale is consummated.
The following is required to be disclosed under regulation Z (truth in
lending) of the consumer credit protection act: ------CORRECT ANSWER---
-------------amount financed
-late fees and APR
-schedule of payments
If a financing company denies a loan application, it must: ------CORRECT
ANSWER---------------Provide the applicant with a written statement
explaining the reason of denial within 30 days
When can an inquiry be made of a credit reporting bureau? ------CORRECT
ANSWER---------------When the customer signs a credit application
Under the truth in lending act, the following must be disclosed to the
customer: ------CORRECT ANSWER----------------total number of payments
-late payment penalty
-annual percentage rate
When discussing a customers loan application, the following cannot be
asked: ------CORRECT ANSWER---------------"Are you married?"
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