Exam (elaborations)
Motor Vehicle Sales License 2024/2025 A+ grade assured
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Motor Vehicle Sales License 2024/2025 A+ grade assured
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Motor Vehicle Sales Licensemotor vehicle dealer board - ANSRegulated in 1945,
9 board members who are residents of state for at least 5 years
3 new car
3 used car
3 members of the public
Serve three year terms. Appointed by governor
The board is empowered to - ANSPromulgate amend and repeal rules regulations and
provisions for the industry.
TRUE OR FALSE:
the board can issue or deny license for any motor vehicle dealer. - ANSTrue
When can the board order an administrative hearing? - ANSWhen they believe there is
probable cause that a violation occurred
The board may impose a fine up to - ANS10,000$ for each offense
The auto industry division - ANSActs as enforcement to the board
Different types of license - ANSNew and used, wholesaler, wholesale auction dealer, buyer
agent and salesperson
True or false: it is not a violation for any salesperson to sell without the proper license -
ANSFalse it is a violation
Surety bonds - ANSProtect citizens against illegal acts by licensees for example: not
honoring a written agreement
When should surety bonds remain in force? - ANSDuring the licensing period
It is required to have bonds in the amount of - ANS$50,000 or 15,000 for wholesaler
True or false: the dealer or salesperson can be personally liable for any proven claim or
judgement in excess of the bond - ANSTrue
New motor vehicle dealer - ANSIs a person who makes commissions to make a profit selling
new or used vehicles
Which is not included with a new motor vehicle dealer
A.Receivers, trustees, admins
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