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CAR SALES TEST COLORADO 2025
QUESTIONS AND ANSWERS.
The License of a motor vehicle salesperson or a power sports salesperson
may be denied revoked, or suspended on any of the following grounds
except: - correct answer - Advertising a salvage vehicle while identifying
the vehicle as a salvage vehicle
The advertise price of a motor vehicle must include: - correct answer -
Answer- Finance Charge
Advertisement of rate of finance charge. If an advertisement states a rate of
finance charge, it
shall state the rate as an "annual percentage rate," using that term. If the
annual percentage
rate may be increased after consummation, the advertisement shall state
that fact. If an
advertisement is for credit not secured by a dwelling, the advertisement
shall not state any
other rate, except that a simple annual rate or periodic rate that is applied
to an unpaid balance
may be stated in conjunction with, but not more conspicuously than, the
annual percentage
rate. If an advertisement is for credit secured by a dwelling, the
advertisement shall not
state any other rate, except that a simple annual rate that is applied to an
unpaid balance may
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be stated in conjunction with, but not more conspicuously than, the annual
percentage rate.
Advertisement of terms that require additional disclosures -
Triggering terms. If any of the following terms is set forth in an
advertisement, the
advertisement shall meet the requirements of paragraph (d)(2) of this
section:
(i)
The amount or percentage of any downpayment.
(ii)
The number of payments or period of repayment.
(iii)
The amount of any payment.
(iv)
The amount of any finance charge.
Which of the following is a true statement regarding dealers and buyers -
correct answer - a dealer shall clearly indicate on the customer contract
when a vehicle is sold "as-is and without a garantee
Which of the following is not proof of ownership of a motor vehicle for a
Colorado dealer - correct answer - Answer- A vehicle subject to lien on the
title
2.0 Proof of Ownership Requirements
a. A used vehicle with a Colorado title:
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2.1 All Colorado dealers or wholesalers must maintain the following
evidence of ownership for each
vehicle in their possession:
61
Auto Industry DivisionStudy Guide- Miscellaneous Statutes & Regulations
2. Odometer disclosure if required.
A used vehicle with an out-of-state title:
Odometer disclosure if required; and,
Colorado Dealer's Out-of-State Vehicle Information Disclosure; and,
Colorado verification of Vehicle Identification Number.
A new vehicle assigned by MCO to a dealer or wholesaler:
MCO assigned or reassigned to a franchised dealer or wholesaler; and,
Odometer disclosure if required.
MCO reassigned to the franchised dealer or wholesaler; and,
Odometer disclosure if required; and,
Verification of vehicle identification number.
1. A Colorado title assigned to the dealer, wholesaler, or chain of
ownership
evidenced by the Colorado Dealer's Bill(s) of Sale for a Motor Vehicle; and,
1. The out-of-state title assigned to the dealer, wholesaler, or out-of-state
title
with proper chain of ownership; and,
3. No dealer or wholesaler shall hold a MCO unless that dealer or
wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
d. A new vehicle assigned or re-assigned with its MCO from an out-of-state
franchised
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dealer or wholesaler to a franchised Colorado dealer or wholesaler:
4. No dealer or wholesaler shall hold a MCO unless that dealer or
wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
e. If a title or an MCO has been surrendered by the dealer or wholesaler to
a bank or
financing organization or any other person as collateral under a Floor Plan
agreement,
the dealer or wholesaler must have in its possession evidence ac
A buyers agent may: - correct answer - Right answer- retained or hired by a
consumer for a fee or other thing of value to assist, represent, or
act on behalf of the consumer in connection with the purchase or lease of a
motor
vehicle / powersport vehicle.
Wrong Answers----------
-intentionally enter into a financial agreement with a motor vehicle
salesperson for the buyer's agent benefit
-be employed by a dealer or salesperson
-coerce a motor vehicle dealer into providing installment financing with
specified financial institution
Found in----------------------------------------
CAR SALES TEST COLORADO 2025
QUESTIONS AND ANSWERS.
The License of a motor vehicle salesperson or a power sports salesperson
may be denied revoked, or suspended on any of the following grounds
except: - correct answer - Advertising a salvage vehicle while identifying
the vehicle as a salvage vehicle
The advertise price of a motor vehicle must include: - correct answer -
Answer- Finance Charge
Advertisement of rate of finance charge. If an advertisement states a rate of
finance charge, it
shall state the rate as an "annual percentage rate," using that term. If the
annual percentage
rate may be increased after consummation, the advertisement shall state
that fact. If an
advertisement is for credit not secured by a dwelling, the advertisement
shall not state any
other rate, except that a simple annual rate or periodic rate that is applied
to an unpaid balance
may be stated in conjunction with, but not more conspicuously than, the
annual percentage
rate. If an advertisement is for credit secured by a dwelling, the
advertisement shall not
state any other rate, except that a simple annual rate that is applied to an
unpaid balance may
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be stated in conjunction with, but not more conspicuously than, the annual
percentage rate.
Advertisement of terms that require additional disclosures -
Triggering terms. If any of the following terms is set forth in an
advertisement, the
advertisement shall meet the requirements of paragraph (d)(2) of this
section:
(i)
The amount or percentage of any downpayment.
(ii)
The number of payments or period of repayment.
(iii)
The amount of any payment.
(iv)
The amount of any finance charge.
Which of the following is a true statement regarding dealers and buyers -
correct answer - a dealer shall clearly indicate on the customer contract
when a vehicle is sold "as-is and without a garantee
Which of the following is not proof of ownership of a motor vehicle for a
Colorado dealer - correct answer - Answer- A vehicle subject to lien on the
title
2.0 Proof of Ownership Requirements
a. A used vehicle with a Colorado title:
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2.1 All Colorado dealers or wholesalers must maintain the following
evidence of ownership for each
vehicle in their possession:
61
Auto Industry DivisionStudy Guide- Miscellaneous Statutes & Regulations
2. Odometer disclosure if required.
A used vehicle with an out-of-state title:
Odometer disclosure if required; and,
Colorado Dealer's Out-of-State Vehicle Information Disclosure; and,
Colorado verification of Vehicle Identification Number.
A new vehicle assigned by MCO to a dealer or wholesaler:
MCO assigned or reassigned to a franchised dealer or wholesaler; and,
Odometer disclosure if required.
MCO reassigned to the franchised dealer or wholesaler; and,
Odometer disclosure if required; and,
Verification of vehicle identification number.
1. A Colorado title assigned to the dealer, wholesaler, or chain of
ownership
evidenced by the Colorado Dealer's Bill(s) of Sale for a Motor Vehicle; and,
1. The out-of-state title assigned to the dealer, wholesaler, or out-of-state
title
with proper chain of ownership; and,
3. No dealer or wholesaler shall hold a MCO unless that dealer or
wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
d. A new vehicle assigned or re-assigned with its MCO from an out-of-state
franchised
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dealer or wholesaler to a franchised Colorado dealer or wholesaler:
4. No dealer or wholesaler shall hold a MCO unless that dealer or
wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
e. If a title or an MCO has been surrendered by the dealer or wholesaler to
a bank or
financing organization or any other person as collateral under a Floor Plan
agreement,
the dealer or wholesaler must have in its possession evidence ac
A buyers agent may: - correct answer - Right answer- retained or hired by a
consumer for a fee or other thing of value to assist, represent, or
act on behalf of the consumer in connection with the purchase or lease of a
motor
vehicle / powersport vehicle.
Wrong Answers----------
-intentionally enter into a financial agreement with a motor vehicle
salesperson for the buyer's agent benefit
-be employed by a dealer or salesperson
-coerce a motor vehicle dealer into providing installment financing with
specified financial institution
Found in----------------------------------------
