Wisconsin DMV Sales Person Test questions with completely solved answers (Graded A+)

When selling a used vehicle make for which the dealer is franchised, in what way does the dealership go about disclosing any unperformed manufacturer recalls? - Answer- It is disclosed in writing. What specific phrases would be a used cars sales appropriate word use? - Answer- Low mileage, one-owner, demonstrated, executive. what is a requirement in order to get a sales license? - Answer- Agree to act in good faith as a salesperson. When can a customer cancel a contract - Answer- When delivery of the vehicle cannot be made within 15 days after the anticipated delivery date stated on the contract, the customer can cancel without penalty, and does not have to accept delivery of the vehicle. Dealerships are required to disclose any "material history" about a vehicle. Vehicle history is "material" if any of the following are true: - Answer- » The buyer asks about it » The dealership knows or has reason to know the information would be important to the buyer » The information would be important to any reasonable person. When is a dealership exempt from showing a Wisconsin Buyers Guide? - Answer- » The buyer asks about it » The dealership knows or has reason to know the information would be important to the buyer » The information would be important to any reasonable person. When it is impossible to reset the reading on the repaired or replacement odometer - Answer- » Set the mileage reading to "zero" » Place a sticker on the left door frame of the vehicle specifying the mileage reading before the repairs and the date on which the odometer was repaired or replaced » The odometer statement must say "not actual" mileage. What should a warranty specify? - Answer- It should specify that parts and systems are covered. What would be considered a salvaged vehicle? - Answer- A vehicle less than 7 years old which is damaged by collision or other occurrence to the extent that the estimated or actual cost, whichever is greater, of repairing the vehicle exceeds 70% of its fair market value.