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CAR SALES TEST COLORADO - MASTERY EXAM QUESTIONS AND ANSWERS 2024
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CAR SALES TEST COLORADO - MASTERY EXAM QUESTIONS AND ANSWERS 2024
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CAR SALES TEST COLORADO - 2024MASTERY EXAM
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Which of the following is a true statement regarding dealers and buyers -
ANSWERS-a dealer shall clearly indicate on the customer contract when a vehicle
is sold "as-is and without a garantee
QUESTION 2
Which of the following is not proof of ownership of a motor vehicle for a Colorado
dealer - ANSWERS-Answer- A vehicle subject to lien on the title
2.0 Proof of Ownership Requirements
a. A used vehicle with a Colorado title:
2.1 All Colorado dealers or wholesalers must maintain the following evidence of
ownership for each
vehicle in their possession:
61
Auto Industry DivisionStudy Guide- Miscellaneous Statutes & Regulations
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, CAR SALES TEST COLORADO - 2024
MASTERY EXAM
2. Odometer disclosure if required.
A used vehicle with an out-of-state title:
Odometer disclosure if required; and,
Colorado Dealer's Out-of-State Vehicle Information Disclosure; and,
Colorado verification of Vehicle Identification Number.
A new vehicle assigned by MCO to a dealer or wholesaler:
MCO assigned or reassigned to a franchised dealer or wholesaler; and,
Odometer disclosure if required.
MCO reassigned to the franchised dealer or wholesaler; and,
Odometer disclosure if required; and,
Verification of vehicle identification number.
1. A Colorado title assigned to the dealer, wholesaler, or chain of ownership
evidenced by the Colorado Dealer's Bill(s) of Sale for a Motor Vehicle; and,
1. The out-of-state title assigned to the dealer, wholesaler, or out-of-state title
with proper chain of ownership; and,
3. No dealer or wholesaler shall hold a MCO unless that dealer or wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
d. A new vehicle assigned or re-assigned with its MCO from an out-of-state
franchised
dealer or wholesaler to a franchised Colorado dealer or wholesaler:
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, CAR SALES TEST COLORADO - 2024
MASTERY EXAM
4. No dealer or wholesaler shall hold a MCO unless that dealer or wholesaler is
franchised to sell that specific make of vehicle as indicated on the MCO.
e. If a title or an MCO has been surrendered by the dealer or wholesaler to a bank
or
financing organization or any other person as collateral under a Floor Plan
agreement,
the dealer or wholesaler must have in its possession evidence ac
QUESTION 3
A buyers agent may: - ANSWERS-Right answer- retained or hired by a consumer
for a fee or other thing of value to assist, represent, or
act on behalf of the consumer in connection with the purchase or lease of a
motor
vehicle / powersport vehicle.
Wrong Answers----------
-intentionally enter into a financial agreement with a motor vehicle salesperson
for the buyer's agent benefit
-be employed by a dealer or salesperson
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, CAR SALES TEST COLORADO - 2024
MASTERY EXAM
-coerce a motor vehicle dealer into providing installment financing with specified
financial institution
Found in----------------------------------------
"Buyer agent" means any person required to be licensed pursuant to this part 1
who is
retained or hired by a consumer for a fee or other thing of value to assist,
represent, or
act on behalf of the consumer in connection with the purchase or lease of a
motor
vehicle.
QUESTION 4
Motor vehicle and power sports salesperson are required to have a surety bond in
the amount of - ANSWERS-15,000
Motor vehicle salesperson's bond
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