Test Latest Update - 120

Wisconsin Motor Vehicle Salesperson Manual Test Latest Update - 120 Questions and 100% Verified Correct Answers Guaranteed A+

-"invoice" -"cost" - CORRECT ANSWER: New vehicles must be advertised using which terms?

-"is included with" - CORRECT ANSWER: What terms must you use instead of "free" in advertising when the customer must purchase something to receive the "free" merchandise?

-"used" -"demonstrator," -"executive" -"low mileage" -"one-owner" - CORRECT ANSWER: If the vehicle being advertised is of the current or previous model year but is used, you must designate it as?

-"we will pay up to" -"appraise your own vehicle" -"as much as" - CORRECT ANSWER: What phrases are you NOT allowed to use when talking about a trade-in allowance?

-"write your own deal"

-"name your own price" - CORRECT ANSWER: Phrases you cannot use when

advertising a vehicle price?

-any down payment -deposit

-title for a trade-in vehicle to the customer. - CORRECT ANSWER: Voiding of the

purchase contract requires that you immediately return what?

-Are 18 years old -Agree to act in good faith as a salesperson -Are familiar with motor vehicle sales laws, lease laws and contract laws - CORRECT

ANSWER: Requirements for a salesperson license

-Completing any salesrelated or lease-related vehicle inspection or forms which are required by law or rule if the dealer has made full disclosure of the service fee to the prospective retail customer.-Dealers who are providing electronic title and registration service may also charge an

additional fee. - CORRECT ANSWER: A dealer may assess a purchaser or lessee an

additional service fee when? 1 / 2

-Give your license to your former employer -Complete an MV2184 Salesperson Application at your new dealership -New license will expire when your new employer's dealer license

expires. - CORRECT ANSWER: How do you transfer your license to a new dealer?

-If the customer's credit is not approved by the sales finance company that is loaning the money for the lease.-The reason for denial must be based on the lease terms disclosed in the agreement.-The dealer can cancel the agreement only when it contains a provision requiring the dealer to give the customer written notice of the cancellation within 10 business days of

signing and the notice is given to the customer. - CORRECT ANSWER: When can the

dealer cancel the prelease agreement?

-Inspection

-Display of the Wisconsin Buyers Guide - CORRECT ANSWER: Laws regulating

consignment sales are the same as those for dealer-owned vehicle sales including:

-manufacturer and auction notices -prior owner documents and disclosures

-their own vehicle inspection and repair records - CORRECT ANSWER: Reasonable

Care Standard:

Dealerships are required to report information they get from?

-Motor Vehicle Purchase Contract under "Other conditions of sale." - CORRECT ANSWER: If history information becomes material AFTER the Wisconsin Buyer's Guide has been completed. (For example, if the shopper asks if a vehicle has been in an accident), where should the information be recorded?

-Name of the vehicle's owner -Description of the vehicle -Terms of the agreemetn

-Lein status of the vehicle. - CORRECT ANSWER: What should the consignment sale

agreement contain?

-Names and addresses of the dealer and purchaser -The salesperson's full name and first 8 digits of salesperson license number -The year, make, model, and vehicle identification number (VIN) of all vehicles involved in the transaction -The chassis year and finished vehicle model year, if they are not identical -Any warranties, warranty disclaimers, service agreements or insurance plans that are part of the offer -The price due upon delivery and all of the components of that price -A listing of any parts or accessories removed or installed by the dealer

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