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Exam (elaborations)

DMV Dealer License Test Exam Set Questions With Revised Correct Answers

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  • CALIFORNIA DEALER LICENSE
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  • CALIFORNIA DEALER LICENSE

DMV Dealer License Test Exam Set Questions With Revised Correct Answers What is the basic DMV transfer fee to transfer the title into the buyer's name? - ANSWER $15.00 If the buyer defaults on a Conditional Sales Contract, the dealer may, subject to proper notification to the buye...

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  • August 26, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • CALIFORNIA DEALER LICENSE
  • CALIFORNIA DEALER LICENSE

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DMV Dealer License Test Exam Set
Questions With Revised Correct
Answers



What is the basic DMV transfer fee to transfer the title into the
buyer's name? - ANSWER $15.00


If the buyer defaults on a Conditional Sales Contract, the dealer
may, subject to proper notification to the buyer:


a. Accelerate the amount do
b. Repossess vehicle
c. Sell the vehicle
d. All of the above - ANSWER d. All of the above


Which of the following are taxable in a vehicle sales
transaction?


a. Document preparation fee

, b. $50 smog fee paid to seller/dealer
c. Both A and B
d. Insurance fees - ANSWER c. Both A and B


Which of the following are not taxable in a vehicle sales
transaction?


a. Finance charges
b. Insurance charges
c. Smog certificate fee (paid to state)
d. All of the above - ANSWER d. All of the above


Buy Here Pay Here (self-financing) Dealers must:


a. Charge interest rates that are less than 20% above prime rate
b. Offer 30 day, or 1,000 mile warranties, and put FMV notices
on their vehicles
c. Send 50% of all interest charged to DMV
d. Finance all vehicles sold for more than $50,000 - ANSWER
b. Offer a 30 day, or 1,000 mile warranties, and put FMV
notices on their vehicles

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