.png){kind=logo}
COLORADO MOTOR VEHICLE DEALER AND SALESPERSON LICENSING LAW STATE EXAM QUESTIONS AND ANSWERS UPDATE
The License of a motor vehicle salesperson or a power sports salesperson may
be denied revoked, or suspended on any of the following grounds except:
Advertising a salvage vehicle while identifying the vehicle as a salvage vehicle
The advertise price of a motor vehicle must include:
Answer- Finance Charge
Advertisement of rate of finance charge. If an advertisement states a rate of
finance charge, it
shall state the rate as an "annual percentage rate," using that term. If the annual
percentage
rate may be increased after consummation, the advertisement shall state that
fact. If an
advertisement is for credit not secured by a dwelling, the advertisement shall not
state any
other rate, except that a simple annual rate or periodic rate that is applied to an
unpaid balance
may be stated in conjunction with, but not more conspicuously than, the annual
percentage
rate. If an advertisement is for credit secured by a dwelling, the advertisement
shall not
state any other rate, except that a simple annual rate that is applied to an unpaid
balance may
be stated in conjunction with, but not more conspicuously than, the annual
percentage rate.
Advertisement of terms that require additional disclosures -
Triggering terms. If any of the following terms is set forth in an advertisement, the
advertisement shall meet the requirements of paragraph (d)(2) of this section:
.png)