VSA LICENSE EXAM QUESTIONS AND
CORRECT/VERIFIED ANSWERS (A+)
LATEST UPDATED 2026/2027
Thegpurposegofgregulatoryglawgisgtogmaintaingcompliancegwithgminimumgstandardsgofgconductgandgcare.g-
gCORRECTgANSWER-True
.gThegprimarygresponsibilitygofgthegVSAgisgtoggetgmoneygbackgforgconsumersg-gCORRECTgANSWER-
False,gtheggoalgofgthegVSAgisgtogenhancegconsumergprotectiongandgconsumergconfidencegingthegvehiclegsal
esgindustrygthroughgeducationgandgcompliance
Whatgthreegassociationsgnominategmembersgtogthegboardgofgdirectors?g-gCORRECTgANSWER-
ThegARA,gNCDAgandgRVDAgeachgnominategmembersgtogthegboardgofgdirectors.
.gThegrolegofgthegVSAgBoardgofgDirectorsgisgtogsetgpolicygandgestablishgannualgbudgetsg-gCORRECTgANSWER-
True,gthegboardgisgnotginvolvedgingday-to-daygoperations
WhogdoesgthegVSAglicense?gListgfourg-gCORRECTgANSWER-
Dealerships,gSalespeople,gBrokergAgentsgandgBrokergAgentgRepresentatives,gWholesalers
.gWholesalersgmaygnotgsellgtogconsumers.g-gCORRECTgANSWER-
True.gTheygareglimitedgtogsellinggonlygtogothergbusinesses.
Agbrokergagentgmaygacceptgagfeegonlygfromgthegbuyerg-gCORRECTgANSWER-
True.gFeesgandgcommissionsgfromgsellersgaregnotgallowed.
LicensinggisgagrightgupheldgbygthegSupremegCourtg-gCORRECTgANSWER-
False.gThegSupremegCourtghasgsadglicensinggisgagprivilegegandgnotgagright.gThegVSAghasgangobligationgtogsetg
andgmaintaingprofessionalglicensinggstandardsgthatgaregingthegpublicginterest.
ThegBPCPAgrequiresggoodsgtogbegsoldgingagcleargandgopengmannerg-gCORRECTgANSWER-
True.gAgconsumergmustgbegablegtogmakeganginformedgdecisiongaboutgtheirgpurchase.
CORRECT/VERIFIED ANSWERS (A+)
LATEST UPDATED 2026/2027
Thegpurposegofgregulatoryglawgisgtogmaintaingcompliancegwithgminimumgstandardsgofgconductgandgcare.g-
gCORRECTgANSWER-True
.gThegprimarygresponsibilitygofgthegVSAgisgtoggetgmoneygbackgforgconsumersg-gCORRECTgANSWER-
False,gtheggoalgofgthegVSAgisgtogenhancegconsumergprotectiongandgconsumergconfidencegingthegvehiclegsal
esgindustrygthroughgeducationgandgcompliance
Whatgthreegassociationsgnominategmembersgtogthegboardgofgdirectors?g-gCORRECTgANSWER-
ThegARA,gNCDAgandgRVDAgeachgnominategmembersgtogthegboardgofgdirectors.
.gThegrolegofgthegVSAgBoardgofgDirectorsgisgtogsetgpolicygandgestablishgannualgbudgetsg-gCORRECTgANSWER-
True,gthegboardgisgnotginvolvedgingday-to-daygoperations
WhogdoesgthegVSAglicense?gListgfourg-gCORRECTgANSWER-
Dealerships,gSalespeople,gBrokergAgentsgandgBrokergAgentgRepresentatives,gWholesalers
.gWholesalersgmaygnotgsellgtogconsumers.g-gCORRECTgANSWER-
True.gTheygareglimitedgtogsellinggonlygtogothergbusinesses.
Agbrokergagentgmaygacceptgagfeegonlygfromgthegbuyerg-gCORRECTgANSWER-
True.gFeesgandgcommissionsgfromgsellersgaregnotgallowed.
LicensinggisgagrightgupheldgbygthegSupremegCourtg-gCORRECTgANSWER-
False.gThegSupremegCourtghasgsadglicensinggisgagprivilegegandgnotgagright.gThegVSAghasgangobligationgtogsetg
andgmaintaingprofessionalglicensinggstandardsgthatgaregingthegpublicginterest.
ThegBPCPAgrequiresggoodsgtogbegsoldgingagcleargandgopengmannerg-gCORRECTgANSWER-
True.gAgconsumergmustgbegablegtogmakeganginformedgdecisiongaboutgtheirgpurchase.