MOTOR VEHICLE INDUSTRY
QUESTIONS & ANSWERS(GRADED
A+)
Three of the follow types of motor vehicles are exempt from the truth in mileage Act.
which one is NOT exempt? - ANSWERB. Motor vehicles with out of state titles
Three of the following are required when a dealer is advertising lease of a motor
vehicle or power sports vehicle with a payment amount. Which one is NOT required?
- ANSWERB. Disclosing the cost of leasing versus the cost of purchasing
The motor vehicle board is authorized and empowered to: - ANSWERD. All of the
above
motor vehicles may be sold on Sundays? (52)
(True or False) - ANSWERFalse
motor vehicle board may decide how large a fine to impose on a dealer who sells
primarily vehicle that weigh 1500 pounds or more so long as it does not exceed
$5,000
(True or False) - ANSWERFalse
The motor vehicle board does NOT have among its members (pg.6) - ANSWERC.
Three employees from the enforcement division
Colorado's lemon law covers - ANSWERB. New self-propelled vehicles, including
pickups and vans
The federal trade commission's used car rule has required the dealers prominently
and conspicuously display the "_____" on every used motor vehicle or light truck
offered for sales. this is also known as the "as is" sticker. - ANSWERBuyer's guide
Incoming and outgoing mileage disclosures must be retained for 5 years -
ANSWERTrue
Dealer should ensure that their reposessor are bonded through the state attorney
general's office. Dealers employing and unbonded reposessor: (pg. 83) -
ANSWERC. May become liable for the actions of the reposessor
Which of the following is true about Colorado's lemon law: (pg.86) - ANSWERC. A
''reasonable number of attempts" to repair applies when the motor vehicle has been
out of service for repairs a cumulative total of 30 or more business days during the
warranty term or 1 year from date of delivery
, Which of the following is a true statement regarding dealers and buyers? -
ANSWERB. A dealer shall clearly indicate on the customer contract when a vehicle
is sold "as is" and without a guarantee
Which of the following steps are required to properly and legally repossess a motor
vehicle? (pg.84) - ANSWERA. Effect a lien creating a security interest
A dealer has how many days to deliver or facilitate delivery of title from the date of
sale? (pg. 59) - ANSWERB. 30 days
The only items that can be added to an advertised price: (pg.37) - ANSWERA.
Finance changes, sales tax, emission, and transportation costs
Wholesalers may: (pg.6) - ANSWERA. Make a profit or gain selling to wholesalers
and dealer
Which of the following is an acceptable proof of ownership of a motor vehicle for a
Colorado dealer? (pg.61) - ANSWERB. A used vehicle with a properly assigned out
of state title to the licensed dealer
An advertisement would include: (pg.1) - ANSWERD. All of the above
A buyer agent may: (pg.1) - ANSWERB. Be retained or hired by a consumer to
assist, represent or act on behalf of such consumer in conjunction with the purchase
or lease of a motor vehicle/power sports
When advertising the sale of a specific motor vehicle, if no statement has been made
concerning a specific time limit of the advertised price, such vehicle shall be sold at
the advertised price for a period of five days following the last date the ad was
published (pg.36) - ANSWERTrue
A dealer may issue 3 temporary permits for each roadworthy vehicle sold (pg.73) -
ANSWERFalse
The license of a new or used dealer, wholesale auction dealer, or wholesaler may be
denied, suspended, revoked, or fined for the following: - ANSWERD. all of the above
If an advertisement for a closed-end credit sale contains the down payment amount,
payment amount, number of payments, and period of repayment, the annual
percentage rate does NOT need to be disclosed. - ANSWERFalse
Which of the following is true regarding depot plates? (pg.71) - ANSWERC. Depot
plates may be used by a dealer to road test a vehicle after repair during normal
business hours
Motor vehicle insurance is required: - ANSWERD. All of the above
A motor vehicle dealer or salesperson may advertise: (pg.37) - ANSWERC. Salvage
vehicles, so long as they are specifically identified as "salvage"
QUESTIONS & ANSWERS(GRADED
A+)
Three of the follow types of motor vehicles are exempt from the truth in mileage Act.
which one is NOT exempt? - ANSWERB. Motor vehicles with out of state titles
Three of the following are required when a dealer is advertising lease of a motor
vehicle or power sports vehicle with a payment amount. Which one is NOT required?
- ANSWERB. Disclosing the cost of leasing versus the cost of purchasing
The motor vehicle board is authorized and empowered to: - ANSWERD. All of the
above
motor vehicles may be sold on Sundays? (52)
(True or False) - ANSWERFalse
motor vehicle board may decide how large a fine to impose on a dealer who sells
primarily vehicle that weigh 1500 pounds or more so long as it does not exceed
$5,000
(True or False) - ANSWERFalse
The motor vehicle board does NOT have among its members (pg.6) - ANSWERC.
Three employees from the enforcement division
Colorado's lemon law covers - ANSWERB. New self-propelled vehicles, including
pickups and vans
The federal trade commission's used car rule has required the dealers prominently
and conspicuously display the "_____" on every used motor vehicle or light truck
offered for sales. this is also known as the "as is" sticker. - ANSWERBuyer's guide
Incoming and outgoing mileage disclosures must be retained for 5 years -
ANSWERTrue
Dealer should ensure that their reposessor are bonded through the state attorney
general's office. Dealers employing and unbonded reposessor: (pg. 83) -
ANSWERC. May become liable for the actions of the reposessor
Which of the following is true about Colorado's lemon law: (pg.86) - ANSWERC. A
''reasonable number of attempts" to repair applies when the motor vehicle has been
out of service for repairs a cumulative total of 30 or more business days during the
warranty term or 1 year from date of delivery
, Which of the following is a true statement regarding dealers and buyers? -
ANSWERB. A dealer shall clearly indicate on the customer contract when a vehicle
is sold "as is" and without a guarantee
Which of the following steps are required to properly and legally repossess a motor
vehicle? (pg.84) - ANSWERA. Effect a lien creating a security interest
A dealer has how many days to deliver or facilitate delivery of title from the date of
sale? (pg. 59) - ANSWERB. 30 days
The only items that can be added to an advertised price: (pg.37) - ANSWERA.
Finance changes, sales tax, emission, and transportation costs
Wholesalers may: (pg.6) - ANSWERA. Make a profit or gain selling to wholesalers
and dealer
Which of the following is an acceptable proof of ownership of a motor vehicle for a
Colorado dealer? (pg.61) - ANSWERB. A used vehicle with a properly assigned out
of state title to the licensed dealer
An advertisement would include: (pg.1) - ANSWERD. All of the above
A buyer agent may: (pg.1) - ANSWERB. Be retained or hired by a consumer to
assist, represent or act on behalf of such consumer in conjunction with the purchase
or lease of a motor vehicle/power sports
When advertising the sale of a specific motor vehicle, if no statement has been made
concerning a specific time limit of the advertised price, such vehicle shall be sold at
the advertised price for a period of five days following the last date the ad was
published (pg.36) - ANSWERTrue
A dealer may issue 3 temporary permits for each roadworthy vehicle sold (pg.73) -
ANSWERFalse
The license of a new or used dealer, wholesale auction dealer, or wholesaler may be
denied, suspended, revoked, or fined for the following: - ANSWERD. all of the above
If an advertisement for a closed-end credit sale contains the down payment amount,
payment amount, number of payments, and period of repayment, the annual
percentage rate does NOT need to be disclosed. - ANSWERFalse
Which of the following is true regarding depot plates? (pg.71) - ANSWERC. Depot
plates may be used by a dealer to road test a vehicle after repair during normal
business hours
Motor vehicle insurance is required: - ANSWERD. All of the above
A motor vehicle dealer or salesperson may advertise: (pg.37) - ANSWERC. Salvage
vehicles, so long as they are specifically identified as "salvage"
