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AFIP CERT 2024 (THE THREE ELEMENTS OF A CONTRACT) 125 QUESTIONS WITH PASSED ANSWERS!!
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AFIP CERT 2024 (THE THREE ELEMENTS OF A CONTRACT) 125 QUESTIONS WITH PASSED ANSWERS!!
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AFIP CERT 2024 (THETHREE ELEMENTS OF A
CONTRACT) 125
QUESTIONS WITH
PASSED ANSWERS!!
AFIP
Evatee 9/15/24 AFIP
,AFIP CERT 2024 (THE THREE ELEMENTS OF A
CONTRACT) 125 QUESTIONS WITH PASSED
ANSWERS!!
The three elements of a contract Answer - Offer, acceptance, and
consideration
Cannot enforce a contract against a customer unless it is Answer - signed by
the customer.
Under the Revised Used Car Rule the requirements regarding Spanish Language
transaction includes which of the following provision Answer - a. English
version of buyers guide there's a sentence that says if you want a Spanish
version just ask for it
b. If the sales transaction is covered in Spanish the buyer's guide must be in
Spanish
c. Buyers guide has to be on the vehicle if Spanish language anytime it can be
viewed by the public for purpose of purchasing
Revised Buyers guide has 2 websites: Answer - 1. Website to find history of
vehicle
2. Website for safety recalls
(True/False) If vehicle marked on lot as is, in order to close the deal throw in
warranty then the salesperson must complete new buyers guide it must reflect
the conditions of the sale at time of sale. Answer - True
, Information provided for complaints after sale contact Answer - Put the name,
phone number, and title on the contract.
If dealer goes to third party provider and buys warranties, how would you mark
that on the buyer's guide? Answer - 1. On the top, check the box that says no
dealer warranty
then check box 3/4 way down that says other used vehicle warranty
Penalty for violating used car rule max? Answer - $51,744 (2024)
Cash is: Answer - Less than $10k. Can be:
- Cashiers check
- Money order
- Travelers check
- Bank draft
Have to fill out form (IRS 8300 form) when: Answer - 1. Someone brings in
cash, but credit is so bad have to give it back
2. On buy here pay dealer within a 12 mo period. The amount paid is less than
have to fill out the form here the total amount received in cash
3. Related cash transactions occur in 24 hour period
How do you record the customer on the IRS 8300 Form? Answer - SSN Number
ITIN
Employer Identification Number (Federal TaxID Number)
If you have a suspicious transaction (IRS 8300 Form)... Answer - 1. Can't tell
customer you're filling out the form even if they ask you
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