DEALER TEST LATEST ACTUAL EXAM QUESTIONS

Page 1 of 27

SUCCESS!

1

DEALER TEST LATEST ACTUAL EXAM QUESTIONS

AND ANSWERS - GRADED A

When must a dealer make a credit score disclosure? - ANSWER✔✔Whenever the dealer runs a credit check

What is the maximum allowable dealer markup for loan assignment on a 60 month contract? -

ANSWER✔✔2.5 %

What advertising terms under AB 68 have new requirements? - ANSWER✔✔certified

Under AB 68, when may a flood vehicle me sold as " certified" ? - ANSWER✔✔Never

Under AB 68, when may a lemon law buyback car be sold as "certified"? - ANSWER✔✔Never

Under AB 68, when a dealer advertises a" certified " vehicle the dealer must maintain? - ANSWER✔✔A vehicle certification program

How many credit score disclosures must be presented? - ANSWER✔✔One for each credit agency contacted

How many disclosures are required for dealer add-ons? - ANSWER✔✔One for each item, with a total for all add-ons

• / 3

Page 2 of 27

SUCCESS!

2 Under AB 68, when a dealer Return the trade-in rejects an optioned return the dealer must? - ANSWER✔✔Issue a written explanation for rejection

What is the minimum passing score for the DMV Exam? - ANSWER✔✔70%

What is the DMV dealer test fee? - ANSWER✔✔$16

What is the number of vehicles you can sell per year without a valid license? - ANSWER✔✔0

What is the required bond or cash amount? - ANSWER✔✔50,000

If you post cash, how many years after you close will the DMV hold your money? - ANSWER✔✔3 years

What is the maximum distance between your retail display area and your office? - ANSWER✔✔1000 ft

What is the minimum square footage of the retail dealer sign? - ANSWER✔✔2 feet

What is the minimum distance the sign can be read from? - ANSWER✔✔50 feet

What is the original application fee? - ANSWER✔✔$175

What is the renewal application fee? - ANSWER✔✔$125 2 / 3

Page 3 of 27

SUCCESS!

3

What is the permanent or temporary branch location fee? - ANSWER✔✔$70

What is the processing fee for the Livescan fingerprint card? - ANSWER✔✔$44

What is the fee for the dealer special plate not including county taxes? - ANSWER✔✔$50

When dealership is going to be moved how far in advance must the DMV receive written notice? - ANSWER✔✔Immediately

When a dealership is going to be sold how far in advance must the DMV receive written notice?

• ANSWER✔✔10 days

How much is auto broker endorsement fee? How much for renewal? - ANSWER✔✔$150 first year, $100 renewal

When a corporation is going to make a change how far in advance must the DMV receive written notice? - ANSWER✔✔30 days

What is the corporate change fee? - ANSWER✔✔$70

What is the initial auto broker fee? - ANSWER✔✔$150

What is the renewal auto broker fee? - ANSWER✔✔$100

• / 3