Colorado Motor Vehicle Dealer Regulations, Exams of Nursing

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Mastery Car Sales Colorado Exam-with 100% verified solutions 2024-2025-tutor verified 127 Q&A The license of a motor vehicle salesperson or power-sports salesperson may be denied, revoked or suspended on any of the following grounds except: b) advertising a salvaged vehicle while identifying the vehicle as a salvage vehicle According to colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? d) All of the above Colorado Lemon law covers: c)defects that substantially impair the market value of a vehicle Three of the following are required to be disclosed in an advertisement when a dealer is advertisement a closed end credit sale of a mother vehicle or powersports...except? d) tax rate The motor vehicle dealer board is authorized and empowered to: D)all of the above Local law enforcement officers must be notified within ___ hours before or after the repossession of a motor vehicle occurs: A)1 hours All motor vehicle dealers and power-sports dealers must post a clear, legible sign on their principal place of business if: B) they will be open less than 40 hours a week A dealer may issue a temporary permits for each roadworthy vehicle sold B) false (verify) The motor vehicle dealer board may be decide how large a fine to impose on a dealer who sells primarily vehicles that weigh 1,500 pounds or more so long as it does not exceed 5k a)True (verify) The Colorado's consumer protection act declares bait and switch advertising to be deceptive trade practice. Bait and switch advertising includes which of the following d)all of the above Three of the following types of motor vehicles are exempt from the truth in mileage act. Which one is not exempt? B)motor vehicles with out-of-state titles The motor vehicle dealer board does not have among its members c)three employees from the enforcement division What is the highest fine per offense that the motor vehicle dealer board or an administrative law judge may impose on a dealer , who sells primarily vehicles that weigh less than 1,500 pounds $1,000 Three of the following are characteristics of an off-premise permit. . Which one is not? A new motor vehicle has three of the following characteristics. Which one doesn't it have? D) a title A dealer wholesaler or salespersons convicted of any felony or any crime.. Has how many days to report conviction? A ) 30 Days Three of the following are require when a dealer is advertising a lease of a a motor vehicle or powersports vehicle with a payment amount which one is not required? D) disclosing the cost of leasing versus the cost of purchasing The definition of a used mother vehicle dealer or used powersports dealer includes which of the following ? 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 A customer's trade- in vehicle on a financed deal may be sold D) only when the financing has been approved Wholesalers : C)must use a name other than their personal name on all business documents A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business False The license of a motor vehicle salesperson or a powersports salesperson may be denied, revoked or suspended on the following grounds D) all of the above A dealer must take in the title in their own name before selling a car to retail customer B) False A salesperson can change dealerships during the licensing year provided that the correct form and fee is submitted to the board such sales person may begin work as a motor vehicle salespersons or powersports salesperson while awaiting a new license from the board B) False Records of vehicles transfers and odometer statements must be retained for: C) 5 year Motor vehicle dealers, powersport dealers, used motor vehicle dealers, used powersports dealers or wholesalers are not required to report to the dealer board B) any change in the hours of operation of the business when the business continues full time (review) Which of the following would indicate a motor vehicle is "used" A certificate of title has been issued A motor vehicle dealer is responsible for : D) all of the above An advertisement would include D) all of the above The license of a new or used dealer, wholesale auction dealer, or wholesaler may be denied, suspended revoked or fined for the following D) all of the above Which of the following is a deceptive trade practice? D) All of the above are deceptive trade practices Demonstration plates can be displayed on vehicles that are used by the dealership for any commercial purpose true Which of the following motor vehicles may be sold on Sundays? C)Motor Homes The Motor Vehicle Dealer Board is authorized and empowered to: issue or deny motor vehicle dealer and salesperson licenses Dealers may be administratively fined by the Dealer Board up to what amount for each separate offense? shall not exceed 10,000 dollars for each separate offense New and used motor vehicle dealers, wholesalers and wholesale auction dealers are required to have a surety bond in the amount of ? $50,000 for Dealer/ Wholesalers Motor vehicle salespersons are required to have a surety bond in the amount of? $15,000 Selling ___ or more vehicles or offering for sale more than ___ vehicles at the same address or telephone number in any one calendar year, shall be prima facie evidence that A person is engaged in the business of selling motor vehicles. The definition of a used motor vehicle dealer includes which of the following? "Used motor vehicle dealer" means any person who, for commission or with intent to make a profit sells used cars. Wholesalers may: make a profit or gain selling to dealers and wholesalers Three of the following are characteristics of an off-premise permit. Which one is not? the permit could be used for a permanent second location All motor vehicle dealers and used motor vehicle dealers must be open a. a minimum of 12 hours per week Hours of operation posted and opened at least 3 days per week for a continuous four hours per day between 8 AM and 9 PM. the license of a motor vehicle salesperson may be denied, revoked, or suspended on the following grounds except: advertising a salvaged vehicle that identifies that vehicle as a salvage vehicle The license of a motor vehicle salesperson may be denied, revoked, or suspended on the following grounds except: not having a valid Colorado drivers license The license of a motor vehicle salesperson may be denied, revoked, or suspended on the following grounds except to engage as a licensee without having in force a good and sufficient bond with corporate surety A dealer, wholesaler or salesperson who is convicted of any felony or any criminal pursuant to Article 3, 4 or 5 of Title 18, C.R.S. (felony or criminal misdemeanor) or like crime pursuant to federal law or law of any other state has _____ days to give the Dealer Board written notice of such conviction? 30 days after such conviction When a salesperson voluntarily leaves or is discharged from a dealership, the dealer must immediately return that salesperson's _________ to the Dealer Board. motor vehicle dealer or used motor vehicle dealer who last employed the salesperson shall confiscate and return such salesperson's license to the board A salesperson can change dealerships during the licensing year provided that a Change of Employer Notification form is submitted to the Board. It is unlawful for such sales person to act as a motor vehicle salesperson until a new _________ is procured. It shall be unlawful for such salesperson to act as a motor vehicle salesperson until a new license is procured. A new motor vehicle has three of the following characteristics. Which one doesn't it have? motor vehicle that is titled May be displayed on vehicles operated by a prospective buyer for demonstration drives. Demonstration drives by a prospective purchaser shall not exceed seven calendar days.2.12 Lost or stolen dealer plates shall be reported within seventy-two (72) hours to the local law Which of the following is true regarding dealer demo plates? dealer demo plates may be displayed only on vehicles owned by or consigned to the dealer or wholesaler Which of the following is true regarding depot plates? A depot plate may be used by the dealership to transport vehicles to and from the dealer's place of business or storage for the purpose of completing work that involves repairing, painting, upholstering, polishing or other similar types of work on the vehicle. A depot plate may also be used for road testing the vehicle after repair. Movement of a vehicle using a depot plate for any purpose other than those listed above shall constitute private use. A new or used motor vehicle dealer may legally do which of the following with a temporary registration permit? issue a permit for a demonstration drive by a consumer How many temporary permits may a dealer issue for each road worthy vehicle sold 1 Records of vehicle transfers and odometer statements must be retained for ____years. 5 The odometer law declares all of the following except: it is unlawful to replace an odometer under any circumstance Three of the following types of motor vehicles are exempt from the Truth in Mileage Act. Which one is not exempt? motor vehicles with out-of-state titles The federal cash reporting rule requires dealers to file federal form 8300 with the Internal Revenue Service when they receive more than $10,000 cash in a single transaction. How many days does a dealer have to file this form? 15 days Which of the following is a false statement regarding dealers and buyers? a dealer must offer a warranty on all motor vehicles sold Three of the following are deceptive trade practices. Which one of the following is not? the dealer discloses in the advertisement all known material information three of the following are deceptive trade practices. Which one of the following is not? delivering good as promised A customer's trade-in vehicle on a financed deal may be sold: only when the financing has been approved Colorado's Lemon Law covers: Colorado's Lemon Law covers only new self-propelled vehicles, including pickups and vans. Motor homes and motorcycles are excluded from the Lemon Law. Which of the following is true about Colorado's Lemon Law? all of the above Local law enforcement offices must be notified within _______ hour(s) before or after the repossession of a motor vehicle occurs. 1 hour before Which of the following may motor vehicle dealers sell on a Sunday? no vehicles may be sold on a Sunday the definition of used motor vehicle dealer or used power sports a person who attempts to negotiate a sale or lease of a of a used MV or PWSP vehicle for profit A dealer is not responsible for taking written action to attempt to correct a misleading as place by a manufacture if the ad contains the dealer name false The motor vehicle department is authorized and empowered to propose fees order hearings investigate An ad would NOT include a salesperson's verbal statement of the MSRP When advertising terms price conditions of sale of a car, dealers may use the term Wish approved credit All motor vehicle dealers are power sport dealers must post a clear legible sign on their pace of business if they will be open less than 40 hours per week Wholesalers may Sell to dealers and other wholesalers The ad price of a Motor Vehicle must include Dealer handling and preparation charges Motor vehicles with demo plates may be loaned to charity originations and celebrities false A motor vehicle salesman can be personally liable for any proven claim or judgement in excess of their surety bond true Which must remain in the window of a new motor vehicle until its sold to the ultimate purchaser? Monroney Label A motor vehicle salesperson may work for more than 1 dealership during one year true In addition to possible dealer bond sanctions, if a dealer/salesperson uses bait and switch it is a class 2 misdemeanor with a 12 month max jailtime and 1k fine or both True