MASTERY EXAM - AUTO INDUSTRY DIVISION WITH
CORRECT ANSWERS 2025 #12
Law enforcement has to be notified in how long about repossessed vehicles - correct
answer ONE HOUR
Repossession - correct answer - has to be 10 dayslate
- 20 days to cure
(30 days total)
- only needs ONE right to cure letter
Info needed on a right to cure letter - correct answer (Name, address, and telephone
number of creditor)
(Account number, if any)
(Brief identification of credit transaction) ______________________ (Date) is the LAST
DATE FOR PAYMENT. ______________________ (Amount) is the AMOUNT NOW
DUE
Demo plates are for - correct answer potential customer test drives
Vehicles that are for sale or lease only
Demo plates are not for - correct answer - employees
- after hour BCA (borrowed car agreement)
- commercial vehicles
Depot plates - correct answer for after inspection
To test car & make sure car is good to sell
Lemon Law covers - correct answer - anything that does substantially impair vehicle
- has to have 4 attempts to fix in one year
Odometer records are held for - correct answer five years
Motor vehicle board has how many members? - correct answer nine
- 3 licences motor dealers
- 3 licensed used dealers
- 3 members of the public
Highest fine on vehicles less than 1500lbs is..
(per offense) - correct answer $1,000 fine
Highest fine on vehicles more than 1500lbs is..
(per offense) - correct answer $10,000 fine
Dealer bonds (insurance) - correct answer $50k
CORRECT ANSWERS 2025 #12
Law enforcement has to be notified in how long about repossessed vehicles - correct
answer ONE HOUR
Repossession - correct answer - has to be 10 dayslate
- 20 days to cure
(30 days total)
- only needs ONE right to cure letter
Info needed on a right to cure letter - correct answer (Name, address, and telephone
number of creditor)
(Account number, if any)
(Brief identification of credit transaction) ______________________ (Date) is the LAST
DATE FOR PAYMENT. ______________________ (Amount) is the AMOUNT NOW
DUE
Demo plates are for - correct answer potential customer test drives
Vehicles that are for sale or lease only
Demo plates are not for - correct answer - employees
- after hour BCA (borrowed car agreement)
- commercial vehicles
Depot plates - correct answer for after inspection
To test car & make sure car is good to sell
Lemon Law covers - correct answer - anything that does substantially impair vehicle
- has to have 4 attempts to fix in one year
Odometer records are held for - correct answer five years
Motor vehicle board has how many members? - correct answer nine
- 3 licences motor dealers
- 3 licensed used dealers
- 3 members of the public
Highest fine on vehicles less than 1500lbs is..
(per offense) - correct answer $1,000 fine
Highest fine on vehicles more than 1500lbs is..
(per offense) - correct answer $10,000 fine
Dealer bonds (insurance) - correct answer $50k
