COLORADO SALES LICENSE TEST 2026 EXAM
STUDY GUIDE COMPLETE QUESTIONS AND
ACCURATE SOLUTIONS
◉ The Motor Vehicle Dealer Board does NOT have among its
members: Answer: Three employees from the dept. of revenue
◉ A buyer agent Answer: is retained or hired by a consumer to
assist/represent/act on behalf of such consumer in connection with
the purchase of lease of a Motor vehicle
◉ Local law enforcement agencies must be notified within 4 hours
after the repossession of a Motor Vehicle Answer: False
1 hour
◉ The license of a new or used dealer/Wholesaler may be
denied/suspended /revoked /fined for the following Answer:
Making a material misstatement in an application of license
◉ A customer's trade-in vehicle on a financed deal may be sold
Answer: Only when the financing has been approved and the
contract binding has been signed
, ◉ Which is NOT required when advertising a closed end credit sale?
Answer: Tax Rate
◉ Which is not a deceptive trade practice? Answer: Disclosing to the
purchaser in writing prior to the sale that a vehicle is a salvage
◉ The Motor Vehicle dealer board may decide how large a fine to
impose on a dealer who sells vehicles <1500lbs, as long as it does
not exceed $5,000 Answer: False
$10,000
◉ The Motor Vehicle Dealer board is authorized and empowered to
Answer: All of the above
-propose fees
-order hearing
-investigate
◉ the following must be conspicuously displayed in the dealers
place of business? Answer: all of the above
-license of dealer
-salesmen licenses
-name of dealership license
STUDY GUIDE COMPLETE QUESTIONS AND
ACCURATE SOLUTIONS
◉ The Motor Vehicle Dealer Board does NOT have among its
members: Answer: Three employees from the dept. of revenue
◉ A buyer agent Answer: is retained or hired by a consumer to
assist/represent/act on behalf of such consumer in connection with
the purchase of lease of a Motor vehicle
◉ Local law enforcement agencies must be notified within 4 hours
after the repossession of a Motor Vehicle Answer: False
1 hour
◉ The license of a new or used dealer/Wholesaler may be
denied/suspended /revoked /fined for the following Answer:
Making a material misstatement in an application of license
◉ A customer's trade-in vehicle on a financed deal may be sold
Answer: Only when the financing has been approved and the
contract binding has been signed
, ◉ Which is NOT required when advertising a closed end credit sale?
Answer: Tax Rate
◉ Which is not a deceptive trade practice? Answer: Disclosing to the
purchaser in writing prior to the sale that a vehicle is a salvage
◉ The Motor Vehicle dealer board may decide how large a fine to
impose on a dealer who sells vehicles <1500lbs, as long as it does
not exceed $5,000 Answer: False
$10,000
◉ The Motor Vehicle Dealer board is authorized and empowered to
Answer: All of the above
-propose fees
-order hearing
-investigate
◉ the following must be conspicuously displayed in the dealers
place of business? Answer: all of the above
-license of dealer
-salesmen licenses
-name of dealership license
