Virginia sales license test Flashcards

Virginia sales license test Flashcards If a vehicle does not pass inspection:-the dealer may bring it to compliance-the dealer may deliver the vehicle with a valid rejection sticker and a written disclosure, which may be in the form of an official inspection receipt If you do not renew your salespersons license by the expiration date You can not operate until a new license is obtained On extended service contracts for both parts and labor the dealer must collect Retail sales tax on one half of the retail cost of the service contract When issuing temporary license plates the dealer: May not charge the customer more than the fee charged the dealer for the plates Temporary certificates of ownership issued by dealers must contain -date of issuance-name and addresses of purchaser-the temporary plate number and vehicle identification number No salesperson shall be employed by more than one dealer unless the dealerships are owned by the same person partnership or corporation True A salesperson "certificate of qualification": Must be obtained before applying for a sales persons license The following must be licensed to engage in business in Virginia -motor vehicle dealer-motor vehicle distributor or manufacturer-motor vehicle salesperson A temporary certificate of ownership titled and registered in Virginia Is issued when the vehicle title is not available at the time of saleCan only be issued for one thirty day period The IRS definition of "cash" does not include Person checks A new motor vehicle is defined as one which -has not been previously titled-has less than 7500 miles on the odometer Salespersons must carry their license at all times and show it when asked True A dealer licensed as a franchise or independent dealer may buy and sell motorcycles, trailers and motor homes if they

have the proper:

License issued by MVDB Vehicles can be sold in Virginia "as is" if -a buyers guide is completely filled out signed and dated by the buyerThe dealer provides the buyer, prior to sale, a separate written disclosure as to effect of an "as is" sale A second set of temporary tags may be issued to a

customer if:

-the title is not available at the end of the first 30-day period-the vehicle is to be titled and registered out of state-all paper work is submitted to dmv along with an explanation as to why a second set needs to be issued- all required fees are submitted to the dmv If a salespersons license has been revoked as a result of failure to reimburse the motor vehicle transaction recovery fund The salesperson must reimburse the fund plus eight percent interest before reapplying for a license

Regarding "internet employees" or persons who receive phone calls from Internet inquiries May not quote pricing over the phone without a salesperson licenseMay greet potential customers and set up appointments without a sales license A "demonstrator" is defined in part as a new motor vehicleHas more than 750 miles accumulated on its odometerRequires a written disclosure to the customer When a thirty day tag is issued to a customer who does not have insurance and is going to register the vehicle in

Virginia, the dealer:

Must handle the titling registering and payment of fees directly with dmvMust collect the uninsured motor vehicle fee What is the penalty for violating the disclosure provisions of the virginia dealer licensing act's "as is" law?-a 1000 civil penalty-the customer may return the vehicle Temporary tags and temporary transport tags can be loaned to another dealer False If a vehicle is Registered in Virginia and the owner does not have liability insurance the penalty is an uninsured motorist fee of $500 The motor vehicle transaction recovery fund Is funded by dealers and salespersons Applications taxes and fees collected for the department of motor vehicles on behalf of the buyer must be submitted to that agency within 30 days The purpose of the motor vehicle transaction recovery fundIs to satisfy unpaid judgements against a dealer or salesperson that has a defrauded purchaser Temporary transport plates may be used to: Transport vehicles from auction or other points of purchase or sale What is an open title?One that has been signed by the titled owner leaving blank information on the buyer Each dealership must post a list of salespersons that work there True Temporary license plateShould be destroyed after expiration or when permanent plates are issued If a customer wishes to demonstrate a vehicle in the inventory of the dealer The salesperson must accompany the customerIf not accompanied by the salesperson a form must be completed and carried by the respective purchaser during the test drive A vehicle must be inspected:Between the time it comes into a dealer inventory and the time it is sold to retail Payments to individuals by a salesperson for procuring a customer for the sales person Can result in a civil penalty or suspension of the salespersons license Temporary transport plates may be issued for no more

than:

Five days There are no grandfather exceptions to recertify as an independent dealer-operator True Used vehicles in the inventory of a dealer that do not have a Virginian inspection sticker Cannot be operated on the highway except to an inspection station Penalties for violating provisions of the statutes pertaining

to motor vehicle salespersons include:

-a civil penalty of not more than $1000 per violation-suspension of the license-revocation of the license

Every independent dealer-operator must pass an exam to recertify False If a salesperson is found guilty of violating one or more of the provisions of the Virginia dealers laws the motor vehicle board May after following the prescribed procedures Assess a civil penalty on the salesperson of up to 1000 per violationRefuse to renew the salespersons licenseRevoke/suspend the salespersons license Any person who is licensed in another state of the United States as a motor vehicle dealer may sell vehicles at

wholesale auctions in Virginia only after obtaining:

A certificate of registration