Exam (elaborations)
STATE OF COLORADO SALES LICENSE TEST
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STATE OF COLORADO SALES LICENSE TEST
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STATE OF COLORADO SALES LICENSE TESTThree of the following types of motor vehicles are exempt from the truth in mileage act. -
Answers -~Vehicles 10 years old or older~Vehicles having a gross empty weight more
than 10,000 lbs~Vehicles not self propelled (Trailers)
The definition of a used motor vehicle dealer or used dealer includes which of the
following? - Answers -a person who attempts to negotiate a sale or lease of a used
motor vehicle or powersports vehicle with the intent to make a profit or gain
The Motor Vehicle Board is authorized and empowered to: - Answers -All Of The Above
~Amend and repeal rules, regulations and previsions
When advertising a specific number of motor vehicles, that same number of vehicles
must be invoiced to the dealer - Answers -TRUE
bait and switch is - Answers -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 - Answers -TRUE
By obtaining an off-premise permit, dealers may sell motor vehicles at another location
on Sunday - Answers -FALSE - NO Sale of vehicle should be done on Sundays
Which of the following statements is true regarding dealer demo plates? - Answers -a
demo drive cannot exceed 7 days
Colorado Lemon Law includes: - Answers -defects that substantially impair the market
value of the vehicle
Motor vehicle insurance is required: - Answers -for all registered vehicles intended for
use on colorado roads
Prominently and conspicuously display the ________? - Answers -FTC Buyer's Guide
A temp registration permit may be issued: - Answers --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 -
Answers -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 - Answers -TRUE
, A Motor Vehicle salesperson may work for more than 1 dealership during one year -
Answers -TRUE
All Motor Vehicle dealers and dealers must post a clear legible sign on their place of
business if: - Answers -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 - Answers -TRUE
Licensed Motor vehicle dealers - Answers -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: - Answers -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: - Answers -operate Motor
vehicle on any street with intent to defraud knowing the odometer is disconnected
A dealer has how many days to facilitate delivery from the date of sale? - Answers -30
Days
Which of the following is NOT proof of ownership for a Motor Vehicle for a CO dealer? -
Answers -a vehicle subject to a lien on the title
a dealers ad must contain the dealers licensed name and the words - Answers -Dealer
federal cash reporting requires dealers to file form 8300 with IRS within how many days
of receiving $10,000 cash? - Answers -15 days
Wholesalers may? - Answers -Sell to dealers and other wholesalers
or
Make a profit or gain selling to dealers and wholesalers
The license of a Motor vehicle salesman may be revoked/suspended on the following
grounds: - Answers -Violating any of the terms and provisions
The license of a Motor vehicle salesman may be revoked/suspended on all grounds
EXCEPT: - Answers -advertising a salvaged vehicle while identifying that vehicle as
salvaged
The advertised price of a Motor vehicle must include: - Answers -dealer handling and
preparation charges
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