GENERAL INFORMATION Flashcards Preview

Dealer/Salespersons Test > GENERAL INFORMATION > Flashcards

Flashcards in GENERAL INFORMATION Deck (10):
1

A vehicle identification number (VIN) is comprised of 17 alpha numeric characters. Which
character identifies the model year?

10th

2

If a vehicle is to be titled out of state, temporary tags are issued and the purchaser does not have the
required liability insurance, the dealer:

Must collect 1/12 of the uninsured motorist fee and submit to DMV.

3

On the buyers order, the line item, “Balance Due at Settlement” is used:

With both cash and finance transactions.

4

In general, a completed buyers order is legally binding when:

Both parties agree on a price and sign the buyers order.

5

In order for a dealer to occasionally rent a vehicle without a rental license:

The dealer cannot rent a vehicle without a rental license issued by the Virginia Department of
Taxation.

6

A dealer makes a good will substitution for a vehicle previously delivered and titled to a customer. The
sales and use tax refund process is:

The tax is not refundable

7

The sales tax on a warranty or service agreement sold to a customer is paid to:

The Virginia Department of Taxation

8

Effective July 2012, a Temporary Supplemental License issued from the MVDB:

May only be issued for 8 off site sales in a year.
Cannot have consecutive sales in the same jurisdiction.
If notifications are required, notifications must be sent by Certified Mail.

9

How many years is a dealership required to maintain proof that a Virginia Safety Inspection was
performed prior to sale at retail?

5 years.

10

What type of valid proof may a Dealer use to prove a Virginia Safety Inspection is performed on a
vehicle prior to retail sale?

A receipt from an authorized Virginia Inspection station identifying vehicle by year, make, model
and VIN.
The official state inspection document.