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DMV - Car Dealer License - Complete Exam Guide 2024 $13.49   Add to cart

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DMV - Car Dealer License - Complete Exam Guide 2024

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DMV - Car Dealer License - Complete Exam Guide 2024DMV - Car Dealer License - Complete Exam Guide 2024DMV - Car Dealer License - Complete Exam Guide 2024DMV - Car Dealer License - Complete Exam Guide 2024

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  • August 31, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Unknown
  • Dmv
  • Dmv
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ClementeO
DMV



Car Dealer License




COMPLETE EXAM GUIDE




©2024/2025

,1. Question: Which of the following regulatory bodies oversees
the enforcement of vehicle safety standards in the U.S.?
- A) Federal Trade Commission (FTC)
- B) Environmental Protection Agency (EPA)
- C) National Highway Traffic Safety Administration (NHTSA)
- D) Securities and Exchange Commission (SEC)
Answer: C) National Highway Traffic Safety Administration
(NHTSA)
Rationale: NHTSA is responsible for setting and enforcing
vehicle safety standards.


2. Question: What is the primary purpose of the Truth in
Lending Act (TILA) in vehicle financing?
- A) To provide consumers with leasing options
- B) To require full disclosure of credit terms
- C) To regulate auto dealerships’ advertising practices
- D) To promote electric vehicle sales
Answer: B) To require full disclosure of credit terms
Rationale: TILA mandates clear disclosure of credit terms to
protect consumers in financing transactions.
©2024/2025

, 3. Question: Under the Dealer Franchise Rule, which statement
is true regarding termination of a dealership agreement?
- A) A dealer can be terminated without cause.
- B) A dealer must be provided written notice and an opportunity
to cure.
- C) Termination does not require any notice.
- D) A dealer can appeal to the FTC after termination.
Answer: B) A dealer must be provided written notice and an
opportunity to cure.
Rationale: The rule requires dealers to receive appropriate
notice and a chance to correct any issues.


4. Question: In compliance with the Fair Credit Reporting Act
(FCRA), which document must a dealership provide if a credit
application is denied based on a consumer’s credit report?
- A) Purchase Agreement
- B) Adverse Action Notice
- C) Vehicle Sales Receipt
- D) Credit Score Disclosure
Answer: B) Adverse Action Notice



©2024/2025

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