State of Colorado Sales License Test Latest Update 2024 Questions and Verified Correct Answers Guaranteed Success
A customer's trade-in vehicle on a financed deal may be sold. - CORRECT ANSWER:
Only when the financing has been approved and the contract binding has been signed
A dealer has how many days to deliver or facilitate delivery of title from the date
of sale? - CORRECT ANSWER: (D) 30 days
A dealer is required to conspicuously display in there place of business the license of
each sale person employed by the dealer - CORRECT ANSWER: (A)true
A dealer is responsible for taking written actions to attempt to correct a misleading advertisement placed by a manufacturer if the advertisement contains the dealer name -
CORRECT ANSWER: (B) False
A dealer may issue 3 temporary permits for each roadworthy vehicle sold. - CORRECT
ANSWER: True
A motor vehicle salesperson may work for more than one dealership during one license
year. - CORRECT ANSWER: TRUE
A new motor vehicle has three of the following characteristics. Which one
doesn't it have? - CORRECT ANSWER: (B) title
A sales person can change dealer ship during a license year provided that a change of employer notification form and fee is summited to the board. It is unlawful for such a sales person to act as a motor vehicle sales person of power sport sale person until a
new liscenes is procured - CORRECT ANSWER: False
According to Colorado law , motor vehicle leasing company do NOT need a motor
vehicle dealers license - CORRECT ANSWER: (B) False
Advertisement would include - CORRECT ANSWER: Licensee name with the world
dealer Or All the above
All motor vehicle dealer and powersport dealer must post clear , legible signs on their principle place of businesses if? - CORRECT ANSWER: (B) if they will be open less than 40 hour per week
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By obtaining an off person permit , dealer may sell motor vehicle at another location on
a sunday - CORRECT ANSWER: -FALSE -no sale of vehicle should be done on
Sunday
Colorado's Lemon Law covers: - CORRECT ANSWER: (C) defects that substantially impair market vale of a vehicle
Dealers must either be self-insured or have insurance for their vehicles - CORRECT
ANSWER: (A) true
Depot plates may be used during normal business hours to transport a motor vehicle -
CORRECT ANSWER: (D) all the above
If a dealer receive more than 10,000 cash in a single transaction, they must - CORRECT ANSWER: (A) file a federal form with the internal revenue with thin 15 days
In addition to possible dealer board sanctions, if a dealer or salesperson is found using bait & switch advertising, the criminal penalty is a class 2 misdemeanor and a maximum
twelve months in jail $1,000 fine, or both. - CORRECT ANSWER: TRUE
Is it acceptable for a licensed dealer to place an advertisement using only the name "ABC Enterprise"?. - CORRECT ANSWER: (B) False is has to say ABC enterprise dealership
Local law enforcement agencies must be notified with thin four hours after
repossession of a motor vehicle occurs - CORRECT ANSWER: (B) False it's 1 hour
Member of motor vehicle dealer board must - CORRECT ANSWER: (C) be a resident
of the state for at least 5 years
Motor vehicle dealers, powersports dealers, used motor vehicle dealers, used powersports dealers, or wholesalers are required to report to the Dealer Board: -
CORRECT ANSWER: Any change in the hours of operation of the business when the
business continues full time.
On Sunday(s), dealers are prohibited from selling all of the following except? -
CORRECT ANSWER: ( C) Powersport Vehicles
The Buyer guide, or "as is" sticker must be? - CORRECT ANSWER: (B) Provided by another language than English if the transact is being conducted in another language than English
The Federal odometer law declares that it is unlawful to do any of the following except.
- CORRECT ANSWER: To operate a motor vehicle on any street, with the intent to
defraud, knowing that the odometer is disconnected
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