AFIP CERTIFICATION LATEST 2026 EXAM TEST QUESTIONS
AND ANSWERS SURE A+
What are the three elements of a contract - ✔✔1. Offer
2. Acceptance
3. Consideration
✔✔Spanish rules for buyers guide - ✔✔1)There is a statement at the back of the buyers
guide that explains the customer to ask for a spanish guide if needed
2) if the sales transaction is in spanish, the buyers guide must be as well
3) if you are going after the hispanic market, you must have both english/spanish buyers
guides
✔✔if a vehicle on the lot qualifies for a service contract - ✔✔you must indicated on the
contract that it is eligible for the service contract
✔✔There are two websites on the buyers guide - ✔✔1) how to get the history on the
vehicle
2) How to find out if any open recalls have been issued
✔✔Vehicle conditions on the buyers guide - ✔✔You must have an updated condition
report on the buyers guide
✔✔on the back of the buyers guide: complaints after sale contact lists: - ✔✔1) the
dealership rep name
2) Phone number
3) Job Title
✔✔Third party warranty company disclosures: - ✔✔1) check "no dealer warranty" Box
2) Check "Other used vehicle warranty" Box
✔✔The maximum penalty for violating the used car rule is: - ✔✔$43,792
✔✔IRS 8300 Form: What is Cash? - ✔✔1) Cashiers Check
2) Bank Draft
3) Travelers Check
4)the amount of $9,500 but this is not required to be submitted to the 8300
✔✔Which of the following requires IRS 8300: - ✔✔- The customer paid $15,000 cash
down but the sale did not take place
✔✔Buy Here Pay Here 8300: - ✔✔The total amount received in cash in a 12 month
period that is over $10,000 needs to be listed on the IRS 8300
, ✔✔How to identify the customer on the IRS 8300 Form? - ✔✔- SSN
- ITIN
- EIN
✔✔Suspicious Transaction IRS 8300 Form requirements: - ✔✔- You cannot tell the
customer you filled out the 8300 form
- you do not send the customer a letter explaining the form was submitted
✔✔Non-resident alien identification - ✔✔- Passport number
- Drivers License number
✔✔What happens when a customer refuses to give SSN number: - ✔✔write on the form
"customer refused to give SSN" and get their drivers license number
✔✔negligent failure to fill out form IRS8300: - ✔✔Fined $280 per return
✔✔Criminal Penalties with regards to a material matter (IRS8300): - ✔✔- Fines up to
$100,000 (individual) and $500,000 (corporation)
- up to 5 years in jail
- Costs of prosecution
✔✔The Financial Privacy Rule States: - ✔✔You give a privacy notice to all Customers
✔✔financial privacy safe harbor requirement - ✔✔Dealer must print the privacy notice
on a form bill
✔✔financial privacy safegaurds rule states: - ✔✔the seller must protect the information
given by the customer
✔✔any information found on the internet is: - ✔✔public information
✔✔financial privacy safegaurds rule requirements: - ✔✔- ensure the security and
confidentiality of customer information
- ensure the protection of this information from anticipated threats and hazards
- ensure the protection against unauthorized access
✔✔Under the safegaurds rule, the following practices must be taken: - ✔✔- appoint a
corporate security officer
- Have a written information security procedure
✔✔Failure to comply with privacy rule and safegaurds rule: - ✔✔- Enforcement by the
FTC
- a UDAP claim can be assessed
AND ANSWERS SURE A+
What are the three elements of a contract - ✔✔1. Offer
2. Acceptance
3. Consideration
✔✔Spanish rules for buyers guide - ✔✔1)There is a statement at the back of the buyers
guide that explains the customer to ask for a spanish guide if needed
2) if the sales transaction is in spanish, the buyers guide must be as well
3) if you are going after the hispanic market, you must have both english/spanish buyers
guides
✔✔if a vehicle on the lot qualifies for a service contract - ✔✔you must indicated on the
contract that it is eligible for the service contract
✔✔There are two websites on the buyers guide - ✔✔1) how to get the history on the
vehicle
2) How to find out if any open recalls have been issued
✔✔Vehicle conditions on the buyers guide - ✔✔You must have an updated condition
report on the buyers guide
✔✔on the back of the buyers guide: complaints after sale contact lists: - ✔✔1) the
dealership rep name
2) Phone number
3) Job Title
✔✔Third party warranty company disclosures: - ✔✔1) check "no dealer warranty" Box
2) Check "Other used vehicle warranty" Box
✔✔The maximum penalty for violating the used car rule is: - ✔✔$43,792
✔✔IRS 8300 Form: What is Cash? - ✔✔1) Cashiers Check
2) Bank Draft
3) Travelers Check
4)the amount of $9,500 but this is not required to be submitted to the 8300
✔✔Which of the following requires IRS 8300: - ✔✔- The customer paid $15,000 cash
down but the sale did not take place
✔✔Buy Here Pay Here 8300: - ✔✔The total amount received in cash in a 12 month
period that is over $10,000 needs to be listed on the IRS 8300
, ✔✔How to identify the customer on the IRS 8300 Form? - ✔✔- SSN
- ITIN
- EIN
✔✔Suspicious Transaction IRS 8300 Form requirements: - ✔✔- You cannot tell the
customer you filled out the 8300 form
- you do not send the customer a letter explaining the form was submitted
✔✔Non-resident alien identification - ✔✔- Passport number
- Drivers License number
✔✔What happens when a customer refuses to give SSN number: - ✔✔write on the form
"customer refused to give SSN" and get their drivers license number
✔✔negligent failure to fill out form IRS8300: - ✔✔Fined $280 per return
✔✔Criminal Penalties with regards to a material matter (IRS8300): - ✔✔- Fines up to
$100,000 (individual) and $500,000 (corporation)
- up to 5 years in jail
- Costs of prosecution
✔✔The Financial Privacy Rule States: - ✔✔You give a privacy notice to all Customers
✔✔financial privacy safe harbor requirement - ✔✔Dealer must print the privacy notice
on a form bill
✔✔financial privacy safegaurds rule states: - ✔✔the seller must protect the information
given by the customer
✔✔any information found on the internet is: - ✔✔public information
✔✔financial privacy safegaurds rule requirements: - ✔✔- ensure the security and
confidentiality of customer information
- ensure the protection of this information from anticipated threats and hazards
- ensure the protection against unauthorized access
✔✔Under the safegaurds rule, the following practices must be taken: - ✔✔- appoint a
corporate security officer
- Have a written information security procedure
✔✔Failure to comply with privacy rule and safegaurds rule: - ✔✔- Enforcement by the
FTC
- a UDAP claim can be assessed
