2024 WISCONSIN AUTO SALES LICENSE EXAM LATEST
QUESTIONS AND CORRECT VERIFIED ANSWERS (FULL
REVISED EXAM) LATEST UPDATED VERSION 2024 |
ALREADY GRADED A+ (BRAND NEW!!)
What aren't you allowed to do while advertising - ANSWER: use deceptive or
misleading advertising to induce price
What terms cannot be used when discussing trade in allowance? - ANSWER: - We
will pay up to
- appraise your own vehicle
- as much as
what wording can you NOT use in advertisements unless the dealership is going out
of business - ANSWER: - close out
- last of remaining
Do you always have to disclose when a vehicle has been flood damaged - ANSWER:
yes
MSRP - ANSWER: a label on the window of a car that has information on standard
equipment, base price, transport method, assembly point, receiving dealer
Are MSRPs required for trucks? - ANSWER: no
Dealer Supplemental Price Label - ANSWER: a label that lists optional equipment or
accessories installed by the dealership
Wisconsin Buyers Guide - ANSWER: the results of a safety inspection
when is the Wisconsin Buyers Guide not required - ANSWER: - trucks over 16,000
pounds
- demo vehicles
- unrepaired salvage
- leased vehicles that are bought after the leasing period is up
what must you include about the model year - ANSWER: model year, whether or not
it's used or new, or "one-owner" when applicable
what must be ensured to list a vehicle as available - ANSWER: that there is enough
available or that it can be delivered within a reasonable time
Do you need to include the dealership name in advertisements? - ANSWER: yes
, If a product is only free with purchase necessary what wording would you use
instead of "free" - ANSWER: included with
Title Brand - ANSWER: info on the title containing terms such as
- buyback, modified, former police vehicle etc.
How long does a dealership have to deliver the application for a title/registration on
a bought vehicle? - ANSWER: 7 days after delivery
MVII - ANSWER: a WI title and license plate application for transferring ownership
when can dealer plates NOT be used - ANSWER: - on rental vehicles
- on vehicles that are not for sale
Which COPIED documents need to be kept by the dealership for a minimum of 5
years? - ANSWER: purchase contracts, applications for titles and registration,
odometer statements, cosigning agreements, factory invoices, power of attorney
forms, titles
Which ORIGINAL documents need to be kept by the dealership for a minimum of 5
years? - ANSWER: log books and the Wisconsin Buyers Guide
Dealership Group - ANSWER: 2 or more dealerships with the same majority owner
Manufacturer Certificate of Origin - ANSWER: contains information on the
manufacturer, VIN, place of assembly, and delivery point
Pre-Delivery Inspection Test - ANSWER: a report on a new vehicle from the
manufacturer that must be given to the customer after the vehicle is sold
Emission Standards Certificate - ANSWER: a certificate that confirms a vehicle has
been installed and inspected, and what to do if the system fails
Damage Disclosure Statement - ANSWER: a written disclosure given to the customer
if 6% or more of the MSRP has been damaged. Any uncorrected damage must be
disclosed
What parts of the car are NOT included in the Damage Disclosure Statement? -
ANSWER: glass, tires, bumpers
Reasonable Care Standard - ANSWER: dealerships are required to test drive and
expect the vehicle internally and externally
(the car does not have to be taken apart)
Are you required to tell a customer the previous owner's name and address upon
request? - ANSWER: yes
QUESTIONS AND CORRECT VERIFIED ANSWERS (FULL
REVISED EXAM) LATEST UPDATED VERSION 2024 |
ALREADY GRADED A+ (BRAND NEW!!)
What aren't you allowed to do while advertising - ANSWER: use deceptive or
misleading advertising to induce price
What terms cannot be used when discussing trade in allowance? - ANSWER: - We
will pay up to
- appraise your own vehicle
- as much as
what wording can you NOT use in advertisements unless the dealership is going out
of business - ANSWER: - close out
- last of remaining
Do you always have to disclose when a vehicle has been flood damaged - ANSWER:
yes
MSRP - ANSWER: a label on the window of a car that has information on standard
equipment, base price, transport method, assembly point, receiving dealer
Are MSRPs required for trucks? - ANSWER: no
Dealer Supplemental Price Label - ANSWER: a label that lists optional equipment or
accessories installed by the dealership
Wisconsin Buyers Guide - ANSWER: the results of a safety inspection
when is the Wisconsin Buyers Guide not required - ANSWER: - trucks over 16,000
pounds
- demo vehicles
- unrepaired salvage
- leased vehicles that are bought after the leasing period is up
what must you include about the model year - ANSWER: model year, whether or not
it's used or new, or "one-owner" when applicable
what must be ensured to list a vehicle as available - ANSWER: that there is enough
available or that it can be delivered within a reasonable time
Do you need to include the dealership name in advertisements? - ANSWER: yes
, If a product is only free with purchase necessary what wording would you use
instead of "free" - ANSWER: included with
Title Brand - ANSWER: info on the title containing terms such as
- buyback, modified, former police vehicle etc.
How long does a dealership have to deliver the application for a title/registration on
a bought vehicle? - ANSWER: 7 days after delivery
MVII - ANSWER: a WI title and license plate application for transferring ownership
when can dealer plates NOT be used - ANSWER: - on rental vehicles
- on vehicles that are not for sale
Which COPIED documents need to be kept by the dealership for a minimum of 5
years? - ANSWER: purchase contracts, applications for titles and registration,
odometer statements, cosigning agreements, factory invoices, power of attorney
forms, titles
Which ORIGINAL documents need to be kept by the dealership for a minimum of 5
years? - ANSWER: log books and the Wisconsin Buyers Guide
Dealership Group - ANSWER: 2 or more dealerships with the same majority owner
Manufacturer Certificate of Origin - ANSWER: contains information on the
manufacturer, VIN, place of assembly, and delivery point
Pre-Delivery Inspection Test - ANSWER: a report on a new vehicle from the
manufacturer that must be given to the customer after the vehicle is sold
Emission Standards Certificate - ANSWER: a certificate that confirms a vehicle has
been installed and inspected, and what to do if the system fails
Damage Disclosure Statement - ANSWER: a written disclosure given to the customer
if 6% or more of the MSRP has been damaged. Any uncorrected damage must be
disclosed
What parts of the car are NOT included in the Damage Disclosure Statement? -
ANSWER: glass, tires, bumpers
Reasonable Care Standard - ANSWER: dealerships are required to test drive and
expect the vehicle internally and externally
(the car does not have to be taken apart)
Are you required to tell a customer the previous owner's name and address upon
request? - ANSWER: yes
