Three of the following types of motor vehicles are exempt from the truth in mileage act. - ~Vehicles 10
years old or older~Vehicles having a gross empty weight more than 10,000 lbs~Vehicles not self
propelled (Trailers)
The definition of a used motor vehicle dealer or used dealer includes which of the following? - a person
who attempts to negotiate a sale or lease of a used motor vehicle or powersports vehicle with the intent
to make a profit or gain
The Motor Vehicle Board is authorized and empowered to: - All Of The Above~Amend and repeal rules,
regulations and previsions
When advertising a specific number of motor vehicles, that same number of vehicles must be invoiced
to the dealer - TRUE
bait and switch is - ad that attracts consumers with a low-priced product, then tries to sell them a
higher-priced product
Selling, Leasing, Trade-In, with option to purchase, offering or negotiating and exchange of interest in 3+
vehicles in any 1 year is prima facie evidence that a person is engaged in the business of selling or
leasing motor vehicles - TRUE
By obtaining an off-premise permit, dealers may sell motor vehicles at another location on Sunday -
FALSE - NO Sale of vehicle should be done on Sundays
Which of the following statements is true regarding dealer demo plates? - a demo drive cannot exceed 7
days
Colorado Lemon Law includes: - defects that substantially impair the market value of the vehicle
Motor vehicle insurance is required: - for all registered vehicles intended for use on colorado roads
,Which is true regarding in-transit plates? - in-transit plates may be used to transport vehicles from point
of purchase to point of storage or from point of storage to point of sale
Licensed dealers may sell which of the following on Sundays? - The selling of boat trailers and
snowmobile are exempt
Which of the following steps are required to properly and legally repossess a motor vehicle? - effect a
lien creating a security interest, Allow the required payment to default (become at least 10 days late),
send or hand deliver a "right to cure" letter to the debtor and allow the debtor 20 days to cure
An advertisement may include - licensed name with the word DEALER
which of the following is a used vehicle? - any vehicle that has been previously bought a demo vehicle
with 1500 miles
Which of the following are deceptive trade practices? - All of the aboveBait and switch
How many temp permits may a dealer issue for each roadworthy vehicle sold? - 1 - An extension can
only be issued but the DMV
Depot plates may be used during normal business hours to transport a motor vehicle - all of the above -
All plates
Three of the following are required when a dealer is advertising a lease of a motor vehicle with a
payment amount - ~Amount or percentage of the down payment~terms of repayment (car payment
date)~Annual percentage rate (interest rate of the loan)
which is NOT required when advertising a lease? - disclosing the cost of lease vs purchasing
Prominently and conspicuously display the ________? - -for 60 days in a B2C sale-for 7 days in a B2B sale
, Motor Vehicle salesmen are required to have a surety bond in the amount of $30k - False, $15,000
If a salesperson leaves a dealership during the licensing year and becomes employed at another
dealership they must acquire a new license for the unexpired portion of their returned license from the
board - TRUE
A Motor Vehicle salesperson may work for more than 1 dealership during one year - TRUE
All Motor Vehicle dealers and dealers must post a clear legible sign on their place of business if: - they
will be open less than 40 hours per week
A Motor vehicle salesman can be personally liable for any proven claim or judgement in excess of their
surety bond - TRUE
Licensed Motor vehicle dealers - must be open for business at least three (3)days per week for a
continuous period of timenot less than four (4) hours per day between the hours of8 a.m. and 9 p.m
The license of a new or used dealer/wholesale/auctioneer/ may be denied/suspended/revoked/fined
for all the following except: - attempting to negotiate the sale or lease of a Motor vehicle with intent to
make profit or gain
Federal odometer law declares it unlawful to do the following: - operate Motor vehicle on any street
with intent to defraud knowing the odometer is disconnected
A dealer has how many days to facilitate delivery from the date of sale? - 30 Days
Which of the following is NOT proof of ownership for a Motor Vehicle for a CO dealer? - a vehicle subject
to a lien on the title
a dealers ad must contain the dealers licensed name and the words - Dealer
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