State of Colorado Car Sales License Questions With Verified Answers Latest Updated 2024/2025 (GRADED A)

State of Colorado Car Sales License Questions With Verified Answers Latest Updated 2024/2025 (GRADED A) The definition of a used motor vehicle dealer or used dealer includes which of the following? a person who attempts to negotiate a sale or lease of a used motor vehicle or powersports vehicle with the intent to make a profit or gain The Motor Vehicle Board is authorized and empowered to: All Of The Above ~Amend and repeal rules, regulations and previsions When advertising a specific number of motor vehicles, that same number of vehicles must be invoiced to the dealer TRUE bait and switch is ad that attracts consumers with a low-priced product, then tries to sell them a higher-priced product Selling, Leasing, Trade-In, with option to purchase, offering or negotiating and exchange of interest in 3+ vehicles in any 1 year is prima facie evidence that a person is engaged in the business of selling or leasing motor vehicles TRUE By obtaining an off-premise permit, dealers may sell motor vehicles at another location on Sunday FALSE - NO Sale of vehicle should be done on Sundays Which of the following statements is true regarding dealer demo plates? State of Colorado Sales License Test Questions and Verified Answers Latest Updated 2024 (GRADED A) a demo drive cannot exceed 7 days Colorado Lemon Law includes: defects that substantially impair the market value of the vehicle Motor vehicle insurance is required: for all registered vehicles intended for use on colorado roads Which is true regarding in-transit plates? in-transit plates may be used to transport vehicles from point of purchase to point of storage or from point of storage to point of sale Licensed dealers may sell which of the following on Sundays? The selling of boat trailers and snowmobile are exempt Which of the following steps are required to properly and legally repossess a motor vehicle? effect a lien creating a security interest, Allow the required payment to default (become at least 10 days late), send or hand deliver a "right to cure" letter to the debtor and allow the debtor 20 days to cure An advertisement may include licensed name with the word DEALER which of the following is a used vehicle? any vehicle that has been previously bought a demo vehicle with 1500 miles Which of the following are deceptive trade practices? All of the above Bait and switch How many temp permits may a dealer issue for each roadworthy vehicle sold? 1 An extension can only be issued but the DMV