COLORADO CAR SALES MASTERY EXAM ACTUAL

COLORADO CAR SALES MASTERY EXAM ACTUAL

EXAM LATEST TEST WITH 250+ ACTUAL EXAM

QUESTIONS AND CORRECT ANSWERS (GRADED A+)

COLORADO CAR SALES MASTERY TEST

A dealer has how many days to deliver or facilitate delivery of title from the date of sale - ANSWER ✔A dealer of motor or off-highway vehicles shall, within thirty days after the sale, deliver or facilitate the delivery of the certificate of title to a purchaser or the holder of a chattel mortgage on the motor or offhighway vehicle subject to section 42-6-109.full use dealer plates can be displayed on all vehicles owned and offered for sale by dealer or wholesaler, except those that are used on tow vehicles or parts delivery/pickup vehicles - ANSWER ✔Right Answer- False

An application for a full-use dealer plate may be submitted by a motor vehicle dealer or wholesaler who: (A) Has sold more than twenty-five motor vehicles in the twelve-month period preceding application; (B) Purchases an existing motor vehicle dealership or wholesale business that has sold more than twenty-five vehicles during the twelve-month period preceding application; or(C) Obtains a license to operate a new or used motor vehicle dealership or wholesale business with an inventory of fifty or more motor vehicles. (II) Full-use dealer plates may be used in lieu of, in the same manner as, and to the same extent as number plates issued pursuant to section 42-3-201. 29 Auto Industry Division Study Guide- Miscellaneous Statutes & Regulations (b) (I) The department shall issue full-use dealer plates upon payment of the fee specified in subparagraph (II) of this paragraph (b) and upon application of a motor vehicle dealer or wholesaler accompanied by satisfactory evidence that the applicant is entitled to the plate in accordance with the criteria established in subparagraph (I) of paragraph (a) of this subsection (6). (II) The annual fee for full-RATED

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use dealer plates shall be established and adjusted annually by the department based on the average of specific ownership taxes and registration fees paid for passenger vehicles and light duty trucks that are seven model years old or newer and that were registered during the one-year period preceding January 1 of each year. Such annual fee shall be prorated on a monthly basis. The annual fee for full-use dealer plates for motorcycles shall be established and adjusted annually by the department based on the average of specific ownership taxes and registration fees paid for motorcycles that are seven model years old or newer and that were registered during th A customers trade-in vehicle on a financed deal may be sold - ANSWER ✔Only when the financing has been approved

Accepts a used vehicle as a trade-in on the purchase or lease of a motor vehicle, used motor vehicle, powersports vehicle, or used powersports vehicle and sells or leases the vehicle that has been traded in before the purchaser or lessee has been approved for a consumer credit transaction as defined in section 5-1- 301 (12) if the approval is a condition of the purchase or lease; Which of the following steps are required to porperly and legally repossess a motor vehicle - ANSWER ✔allow the debtor 20 days to cure

If a mortgagee, lienholder, or the mortgagee's or lienholder's assignee or the agent of either repossesses a motor or off-highway vehicle because of default in the terms of a secured debt, the repossessor shall notify, either orally or in writing, a law enforcement agency, as provided in this section, of the repossession, the name of the owner, the name of the repossessor, and the name of the mortgagee, lienholder, or assignee.The notification must be made at least one hour before, if possible, and in any event no later than one hour after, the repossession occurs. If the repossession takes place in an incorporated city or town, the repossessor shall notify the police department, town marshal, or other local law enforcement agency of the city or town. If the repossession takes place in the unincorporated area of a county, the repossessor shall notify the county sheriff. (2) A repossessor who violates subsection (1) of this section is guilty of a class 2 misdemeanor and, upon conviction, shall be punished as provided in section 18-1.3-501, C.R.S. (3) If a motor or off-highway vehicle being repossessed is subject to the "Uniform Commercial Code - Secured Transactions", article 9 of title 4, C.R.S., the repossession is governed by section 4-9- 629, C.R.S. (4) As used in this section, the term "repossessor" means the party who physically takes possession of the motor or off-highway vehicle and drives, tows, or transports the vehicle for delivery to the mortgagee, lienholder, or assignee or the agent of the mortgagee, lienholder, or assignee. 2 / 4

• ANSWER ✔With respect to a consumer credit transaction, after a consumer has been in default for ten

days for failure to make a required payment and has not voluntarily surrendered possession of goods or the mobile home that are collateral, a creditor may give the consumer the notice described in this section. A creditor gives notice to the consumer pursuant to this section when the creditor delivers the notice to the consumer or mails the notice to the consumer at the consumer's residence, as defined in section 5-1-201 (6).In- Transit plates may be used on motor vehicles - ANSWER ✔answer- such as tow trucks and delivery vehicles.

Dealer In-Transit License Plates: 1. May be displayed on vehicles that: a. Are for intra-state and inter-state transport of vehicles offered for sale, consigned to be sold, or owned by a dealer. b. Are being operated from point of purchase to the point of storage, or from the point of storage to the point of sale. c. Are for demonstration purposes only when a dealership employee is in the vehicle with the prospective buyer. d.Are in a safe roadworthy condition. 2. Dealer In-Transit license plates may not be displayed on vehicles that: 76 Auto Industry Division Study Guide- Miscellaneous Statutes & Regulations a. Are being operated by prospective buyers without a dealership employee being present in the vehicle while being operated, or;

• Have been sold, leased, or rented, or; c. Are dealer or dealership employees' personal vehicles, or; d. Are

loaned or donated by the dealership, or; e. Are being pulled, hauled or are otherwise considered cargo, or; f.Are tow vehicles or parts pickup/delivery vehicles.

• ANSWER ✔"Advertise" or "advertisement" means any commercial message in any newspaper,

magazine, leaflet, flyer, or catalog, on radio, television, or a public address system, in direct mail literature or other printed material, on any interior or exterior sign or display, in any window display, on a computer display, or in any point-of-transaction literature or price tag that is delivered or made available to a customer or prospective customer in any manner; except that the term does not include materials required to be displayed by federal or state law

• ANSWER ✔"Motor vehicle dealer" means a person who, for commission or with intent to make a

profit or gain of money or other thing of value, sells, leases, exchanges, rents with option to purchase, offers, or attempts to negotiate a sale, lease, or exchange of an interest in new or new and used motor vehicles or who is engaged wholly or in part in the business of selling or leasing new or new and used motor vehicles, whether or not the motor vehicles are owned by the person. The sale or lease of three or more new or new and used motor vehicles or the offering for sale or lease of more than three new or new and used motor vehicles at the same address or telephone number in any one calendar year is prima facie evidence that a person is engaged in the business of selling or leasing new or new and used motor vehicles. "Motor vehicle dealer" includes an owner of real property who allows more than three new or new and used motor 3 / 4

vehicles to be offered for sale or lease on the property during one calendar year unless said property is leased to a licensed motor vehicle dealer. "Motor vehicle dealer" does not include: (a) Receivers, trustees, administrators, executors, guardians, or other persons appointed by or acting under the judgment or order of any court; (b) Public officers while performing their official duties; (c) Employees of a motor vehicle dealer when engaged in the specific performance of their duties as employees; (d) A wholesaler or anyone selling motor vehicles solely to wholesalers; (e) Any person engaged in the selling of a fire truck; or (f) A motor vehicle auctioneer.

• ANSWER ✔"Motor vehicle salesperson" means a natural person who, for a salary, commission, or

compensation of any kind, is employed either directly or indirectly, regularly or occasionally, by a motor vehicle dealer or used motor vehicle dealer to sell, lease, purchase, or exchange or to negotiate for the sale, lease, purchase, or exchange of motor vehicles.

• ANSWER ✔"Used motor vehicle dealer" means a person who, for commission or with intent to make

a profit or gain of money or other thing of value, sells, exchanges, leases, or offers an interest in used motor vehicles, or attempts to negotiate a sale, exchange, or lease of used motor vehicles, or who is engaged wholly or in part in the business of selling used motor vehicles, whether or not the motor vehicles are owned by the person. The sale of three or more used motor vehicles or the offering for sale of more than three used motor vehicles at the same address or 7 Auto Industry Division Study Guide- Motor Vehicle Statutes telephone number in any one calendar year is prima facie evidence that a person is engaged in the business of selling used motor vehicles. "Used motor vehicle dealer" includes an owner of real property who allows more than three used motor vehicles to be offered for sale on the property during one calendar year unless said property is leased to a licensed used motor vehicle dealer. "Used motor vehicle dealer" does not include: (a) Receivers, trustees, administrators, executors, guardians, or other persons appointed by or acting under the judgment or order of any court; (b) Public officers while performing their official duties; (c) Employees of a used motor vehicle dealer when engaged in the specific performance of their duties as employees; (d) A wholesaler or anyone selling motor vehicles solely to wholesalers; (e) Mortgagees or secured parties as to sales in any one year of not more than twelve motor vehicles constituting collateral on a mortgage or security agreement, if the mortgagees or secured parties do not realize for their own account any money in excess of the outstanding balance secured by the mortgage or security agreement, plus costs of collection; (f) A person who only sells or exchanges no mor The motor vehicle dealer board is authorized and empowered to: - ANSWER ✔All the above

The board is authorized and empowered: (a) To promulgate, amend, and repeal rules reasonably necessary

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