Virginia Dealer Test – Questions With Appropriate
Solutions
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Terms in this set (140)
The Virginia Code defines a dealer, in 1) One who sells 5 or more vehicles within a 12-month
part, as: period.
2) One who buys, sells, and exchanges vehicles.
In order to qualify for licensing, the 1) Meet all local zoning regulations
dealer's established place of business 2) Have at least 250 square feet of sales and office
must: space devoted exclusively to the dealership
3) Have contiguous space designated for the
exclusive use of the dealership adequate to permit
the display of at least 10 vehicles
4) Have a valid email and an internet connection in
the name of the dealership
If you intend to change the location of In writing, 30 days in advance
your dealership (move), you must
notify the Board:
Among other items, the following are 1) Zoning approval
required before a change of location 2) Successful inspection by the Board of the new
(move) can be completed: location
When an insurance company takes Salvage Certificate or non-repairable certificate
possession of a vehicle as the result of
a claim, the insurance company
applies for and receives a:
,If the dealer-operator dies, becomes 120 days
disabled, retires, is removed, or for
any other cause ceases to act as the
dealer-operator, a new dealer-
operator must be in place within:
if a salvage vehicle is rebuilt, then a: Title branded "rebuilt" is issued.
A dealer is exempt from paying Parts and accessories purchased for and installed on
Virginia sales tax on: a vehicle in inventory
Dealers are required to notify the No later than the tenth day following the month the
Dealer Board that a salesperson in no salesperson left the dealership
longer working for the dealership:
Under the Consumer Protection Act, Up to $5,000 plus attorney fees, for violating an
civil penalties may be assessed: injunction
The Manufacturers Warranty Policy adjustments outside of the manufacturers
Adjustment Act deals with: warranty
On extended service contracts, for Retail sales tax on one half of the retail cost of the
parts and labor, the dealer must service contract
collect:
The entity which usually has the Manufacturer
primary responsibility for payment of
damages in the event of a "Lemon
Law" violation is the:
How many days does a lien-holder 10 days
have to surrender a title to the person
legally entitled to it after the lien has
been satisfied:
Application for renewal of licenses Will be renewed at a fee equal to 150% of the "on
received by the Board within 30 days time" fee
after the license expiration date:
, Application for renewal of licenses Will be considered a new or "original" application
received by the Board or postmarked
more than 30 days after the license
expiration date:
True OR False? TRUE
A MVDB Transaction Recovery Fund
claim is limited to $25,000 and shall
be increased by the percentage
increase over the most recently
available unadjusted 12-month period
in the Consumer Price Index for used
cars and trucks as published by the
U.S. Bureau of labor statistics or any
successor index
The total of all claims paid by the 4 times the amount of a single claim
Motor Vehicle Transaction Recovery
Fund resulting from fraudulent actions
by an individual dealer is:
Virginia Statute calls for the maximum 5% of the payment after the seventh day from the
late charge under an installment sales date the payment was due
contract to be assessed at:
A dealer who is "on-line" with DMV: Must pass the vendor fee on to the customer
Dealers who are not "on-line" with Cannot pass it on the to the customer
DMV pay a transaction fee and:
To issue a second or third set of Print You are only allowed to print one se of Print On
on Demand (PoD) temporary tags for Demand (PoD) temporary tags
vehicles to be titled in Virginia, the
dealer must:
Solutions
Save
Terms in this set (140)
The Virginia Code defines a dealer, in 1) One who sells 5 or more vehicles within a 12-month
part, as: period.
2) One who buys, sells, and exchanges vehicles.
In order to qualify for licensing, the 1) Meet all local zoning regulations
dealer's established place of business 2) Have at least 250 square feet of sales and office
must: space devoted exclusively to the dealership
3) Have contiguous space designated for the
exclusive use of the dealership adequate to permit
the display of at least 10 vehicles
4) Have a valid email and an internet connection in
the name of the dealership
If you intend to change the location of In writing, 30 days in advance
your dealership (move), you must
notify the Board:
Among other items, the following are 1) Zoning approval
required before a change of location 2) Successful inspection by the Board of the new
(move) can be completed: location
When an insurance company takes Salvage Certificate or non-repairable certificate
possession of a vehicle as the result of
a claim, the insurance company
applies for and receives a:
,If the dealer-operator dies, becomes 120 days
disabled, retires, is removed, or for
any other cause ceases to act as the
dealer-operator, a new dealer-
operator must be in place within:
if a salvage vehicle is rebuilt, then a: Title branded "rebuilt" is issued.
A dealer is exempt from paying Parts and accessories purchased for and installed on
Virginia sales tax on: a vehicle in inventory
Dealers are required to notify the No later than the tenth day following the month the
Dealer Board that a salesperson in no salesperson left the dealership
longer working for the dealership:
Under the Consumer Protection Act, Up to $5,000 plus attorney fees, for violating an
civil penalties may be assessed: injunction
The Manufacturers Warranty Policy adjustments outside of the manufacturers
Adjustment Act deals with: warranty
On extended service contracts, for Retail sales tax on one half of the retail cost of the
parts and labor, the dealer must service contract
collect:
The entity which usually has the Manufacturer
primary responsibility for payment of
damages in the event of a "Lemon
Law" violation is the:
How many days does a lien-holder 10 days
have to surrender a title to the person
legally entitled to it after the lien has
been satisfied:
Application for renewal of licenses Will be renewed at a fee equal to 150% of the "on
received by the Board within 30 days time" fee
after the license expiration date:
, Application for renewal of licenses Will be considered a new or "original" application
received by the Board or postmarked
more than 30 days after the license
expiration date:
True OR False? TRUE
A MVDB Transaction Recovery Fund
claim is limited to $25,000 and shall
be increased by the percentage
increase over the most recently
available unadjusted 12-month period
in the Consumer Price Index for used
cars and trucks as published by the
U.S. Bureau of labor statistics or any
successor index
The total of all claims paid by the 4 times the amount of a single claim
Motor Vehicle Transaction Recovery
Fund resulting from fraudulent actions
by an individual dealer is:
Virginia Statute calls for the maximum 5% of the payment after the seventh day from the
late charge under an installment sales date the payment was due
contract to be assessed at:
A dealer who is "on-line" with DMV: Must pass the vendor fee on to the customer
Dealers who are not "on-line" with Cannot pass it on the to the customer
DMV pay a transaction fee and:
To issue a second or third set of Print You are only allowed to print one se of Print On
on Demand (PoD) temporary tags for Demand (PoD) temporary tags
vehicles to be titled in Virginia, the
dealer must:
