State of Colorado Sales License Test Questions And Answers |Verified
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State of Colorado Sales License
Institution
State Of Colorado Sales License
State of Colorado Sales License Test Questions And
Answers |Verified
bait and switch is - ANSWER -ad that attracts consumers with a low-priced product,
then tries to sell them a higher-priced product
Selling, Leasing, Trade-In, with option to purchase, offering or negotiating and
exchange o...
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State of Colorado Sales License Test Questions And
Answers |Verified
bait and switch is - ANSWER -ad that attracts consumers with a low-priced product,
then tries to sell them a higher-priced product
Selling, Leasing, Trade-In, with option to purchase, offering or negotiating and
exchange of interest in 3+ vehicles in any 1 year is prima facie evidence that a person is
engaged in the business of selling or leasing motor vehicles - ANSWER -TRUE
By obtaining an off-premise permit, dealers may sell motor vehicles at another location
on Sunday - ANSWER -FALSE - NO Sale of vehicle should be done on Sundays
Which of the following statements is true regarding dealer demo plates? - ANSWER -a
demo drive cannot exceed 7 days
Colorado Lemon Law includes: - ANSWER -defects that substantially impair the market
value of the vehicle
Motor vehicle insurance is required: - ANSWER -for all registered vehicles intended for
use on colorado roads
Which is true regarding in-transit plates? - ANSWER -in-transit plates may be used to
transport vehicles from point of purchase to point of storage or from point of storage to
point of sale
Licensed dealers may sell which of the following on Sundays? - ANSWER -The selling
of boat trailers and snowmobile are exempt
Which of the following steps are required to properly and legally repossess a motor
vehicle? - ANSWER -effect a lien creating a security interest, Allow the required
payment to default (become at least 10 days late), send or hand deliver a "right to cure"
letter to the debtor and allow the debtor 20 days to cure
An advertisement may include - ANSWER -licensed name with the word DEALER
which of the following is a used vehicle? - ANSWER -any vehicle that has been
previously bought a demo vehicle with 1500 miles
Which of the following are deceptive trade practices? - ANSWER -All of the above
Bait and switch
How many temp permits may a dealer issue for each roadworthy vehicle sold? -
ANSWER -1
An extension can only be issued but the DMV
, Depot plates may be used during normal business hours to transport a motor vehicle -
ANSWER -all of the above
All plates
Three of the following are required when a dealer is advertising a lease of a motor
vehicle with a payment amount - ANSWER -~Amount or percentage of the down
payment
~terms of repayment (car payment date)
~Annual percentage rate (interest rate of the loan)
which is NOT required when advertising a lease? - ANSWER -disclosing the cost of
lease vs purchasing
Prominently and conspicuously display the ________? - ANSWER -FTC Buyer's Guide
A temp registration permit may be issued: - ANSWER --for 60 days in a B2C sale-for 7
days in a B2B sale
Motor Vehicle salesmen are required to have a surety bond in the amount of $30k -
ANSWER -False, $15,000
If a salesperson leaves a dealership during the licensing year and becomes employed
at another dealership they must acquire a new license for the unexpired portion of their
returned license from the board - ANSWER -TRUE
A Motor Vehicle salesperson may work for more than 1 dealership during one year -
ANSWER -TRUE
All Motor Vehicle dealers and dealers must post a clear legible sign on their place of
business if: - ANSWER -they will be open less than 40 hours per week
A Motor vehicle salesman can be personally liable for any proven claim or judgement in
excess of their surety bond - ANSWER -TRUE
Licensed Motor vehicle dealers - ANSWER -must be open for business at least three
(3)days per week for a continuous period of time
not less than four (4) hours per day between the hours of8 a.m. and 9 p.m.
The license of a new or used dealer/wholesale/auctioneer/ may be
denied/suspended/revoked/fined for all the following except: - ANSWER -attempting to
negotiate the sale or lease of a Motor vehicle with intent to make profit or gain
Federal odometer law declares it unlawful to do the following: - ANSWER -operate
Motor vehicle on any street with intent to defraud knowing the odometer is disconnected
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