STATE OF COLORADO MOTOR VEHICLE DEALER BOARD
MASTERY 2026/27 EXAMINATION QUESTIONS AND ANSWERS
ASSURED PASS
A buyer agent may:
A. Be a person whose business includes the purchase of
motor vehicles primarily for
Resale
B. Be retained or hired by a consumer to assist, represent, or
act on behalf of such
Consumer in connection with the purchase or lease of a motor
vehicle
C. Advertise the consumer's trade-in
D. Receive compensation from a dealer or salesperson
B
(b) (I) "Buyer agent" does not include a person whose business
includes the purchase of motor vehicles
Primarily for resale or lease; except that nothing in this
subsection (2.5) shall be construed to prohibit a
Buyer agent from assisting a consumer regarding the disposal
of a trade-in motor vehicle that is incident
To the purchase or lease of a vehicle if the buyer agent does
not advertise the sale of, or sell, such
Vehicle to the general public, directs interested dealers and
wholesalers to communicate their offers
Directly to the consumer or to the consumer via the buyer
agent, does not handle or transfer titles or
,Funds between the consumer and the purchaser, receives no
compensation from a dealer or wholesaler
Purchasing a consumer's vehicle, and identifies himself or
herself as a buyer agent to dealers and
Wholesalers interested in the consumer's vehicle.
(II) A "buyer agent" licensed pursuant to this part 1 shall not be
employed by or receive a fee from a
Person whose business includes the purchase of motor
vehicles primarily for resale or lease, a motor
Vehicle manufacturer, a motor vehicle dealer, or a used motor
vehicle dealer.
Https://www.colorado.gov/pacific/sites/default/files/January%
207%202015%20Motor%20Vehicles%20laws.pdf
A new motor vehicle has three of the following characteristics.
Which one
Doesn't it have?
A. A motor vehicle being transferred for the first time from a
manufacturer
B. A motor vehicle that is titled
C. A motor vehicle which has not been used and commonly
known as a "new"
Vehicle
D. A motor vehicle with less than 1500 demonstration miles at
the franchised dealer
,B.
A new motor vehicle, is defined as "any motor vehicle being
transferred for the first time from a
Manufacturer or importer, or dealer or agent or agent of a
manufacturer or importer, and which motor
Vehicle has heretofore not been used, and is what is
commonly known as a "new motor vehicle"." A motor
Vehicle which has been used by a dealer solely for the
purpose of demonstration to prospective
Customers shall be considered a "new vehicle" , unless such
demonstration use has been for more than
Fifteen Hundred (1500) miles.
Https://www.colorado.gov/pacific/sites/default/files/JANUARY
%208%20MV%20REGS%20unhighlited011215.pdf
Which of the following would always indicate a motor vehicle
is used?
A. A vehicle with less than 1500 demonstration miles at the
franchised dealer
B. A vehicle with a properly assigned Manufacturer's
Certificate of Origin
C. A vehicle that is titled
D. A vehicle with a Monroney label
C.
, A "used motor vehicle" is defined as any motor vehicle which
has been sold, bargained, exchanged,
Given away, or the title thereto transferred from the person
who first took title thereto from the
Manufacturer or importer, dealer or agent of the manufacturer
or importer, or so used as to have
Become what is commonly known as a "secondhand motor
vehicle"." In the event of transfer on the
Certificate of origin, from the original franchised dealer to any
other dealer or individual other than a
Franchised dealer of the same make of vehicle, the vehicle
shall be considered a "used" motor vehicle,
And must be titled in the new owner's name
Https://www.colorado.gov/pacific/sites/default/files/JANUARY
%208%20MV%20REGS%20unhighlited011215.pdf
Since 1985, the Federal Trade Commission's Used Car Rule has
required that dealers
Prominently and conspicuously display the __________________
on every used car or
Light truck offered for sale. This is also known as the "as is"
sticker.
Buyers Guide
MASTERY 2026/27 EXAMINATION QUESTIONS AND ANSWERS
ASSURED PASS
A buyer agent may:
A. Be a person whose business includes the purchase of
motor vehicles primarily for
Resale
B. Be retained or hired by a consumer to assist, represent, or
act on behalf of such
Consumer in connection with the purchase or lease of a motor
vehicle
C. Advertise the consumer's trade-in
D. Receive compensation from a dealer or salesperson
B
(b) (I) "Buyer agent" does not include a person whose business
includes the purchase of motor vehicles
Primarily for resale or lease; except that nothing in this
subsection (2.5) shall be construed to prohibit a
Buyer agent from assisting a consumer regarding the disposal
of a trade-in motor vehicle that is incident
To the purchase or lease of a vehicle if the buyer agent does
not advertise the sale of, or sell, such
Vehicle to the general public, directs interested dealers and
wholesalers to communicate their offers
Directly to the consumer or to the consumer via the buyer
agent, does not handle or transfer titles or
,Funds between the consumer and the purchaser, receives no
compensation from a dealer or wholesaler
Purchasing a consumer's vehicle, and identifies himself or
herself as a buyer agent to dealers and
Wholesalers interested in the consumer's vehicle.
(II) A "buyer agent" licensed pursuant to this part 1 shall not be
employed by or receive a fee from a
Person whose business includes the purchase of motor
vehicles primarily for resale or lease, a motor
Vehicle manufacturer, a motor vehicle dealer, or a used motor
vehicle dealer.
Https://www.colorado.gov/pacific/sites/default/files/January%
207%202015%20Motor%20Vehicles%20laws.pdf
A new motor vehicle has three of the following characteristics.
Which one
Doesn't it have?
A. A motor vehicle being transferred for the first time from a
manufacturer
B. A motor vehicle that is titled
C. A motor vehicle which has not been used and commonly
known as a "new"
Vehicle
D. A motor vehicle with less than 1500 demonstration miles at
the franchised dealer
,B.
A new motor vehicle, is defined as "any motor vehicle being
transferred for the first time from a
Manufacturer or importer, or dealer or agent or agent of a
manufacturer or importer, and which motor
Vehicle has heretofore not been used, and is what is
commonly known as a "new motor vehicle"." A motor
Vehicle which has been used by a dealer solely for the
purpose of demonstration to prospective
Customers shall be considered a "new vehicle" , unless such
demonstration use has been for more than
Fifteen Hundred (1500) miles.
Https://www.colorado.gov/pacific/sites/default/files/JANUARY
%208%20MV%20REGS%20unhighlited011215.pdf
Which of the following would always indicate a motor vehicle
is used?
A. A vehicle with less than 1500 demonstration miles at the
franchised dealer
B. A vehicle with a properly assigned Manufacturer's
Certificate of Origin
C. A vehicle that is titled
D. A vehicle with a Monroney label
C.
, A "used motor vehicle" is defined as any motor vehicle which
has been sold, bargained, exchanged,
Given away, or the title thereto transferred from the person
who first took title thereto from the
Manufacturer or importer, dealer or agent of the manufacturer
or importer, or so used as to have
Become what is commonly known as a "secondhand motor
vehicle"." In the event of transfer on the
Certificate of origin, from the original franchised dealer to any
other dealer or individual other than a
Franchised dealer of the same make of vehicle, the vehicle
shall be considered a "used" motor vehicle,
And must be titled in the new owner's name
Https://www.colorado.gov/pacific/sites/default/files/JANUARY
%208%20MV%20REGS%20unhighlited011215.pdf
Since 1985, the Federal Trade Commission's Used Car Rule has
required that dealers
Prominently and conspicuously display the __________________
on every used car or
Light truck offered for sale. This is also known as the "as is"
sticker.
Buyers Guide
