General Information Flashcards
Prior to purchasing a vehicle without a Virginia inspection sticker from an auction, the vehicle may be test driven:
Within a 5-mile radius of the auction.
Vehicles purchased at auction may be driven on the highway without a Virginia inspection sticker:
Between the auction and the purchaser’s place of business.
To the nearest state inspection station
Under a dealer obligor extended service agreement, the dealer is always liable for the repairs under the agreement whether or not the administrator is in business to reimburse the dealer. (T/F)
True.
If a customer declares bankruptcy within 90 days of the date of a delivery of a vehicle sold by a dealer, the lender who holds a security interest in the vehicle may become an unsecured creditor if the lien was not recorded within:
30 days.
What actions must be taken when a salesperson transfers from one dealership to
another?
The license is returned to the MVDB with a MVDB 61 and transfer fees.
A dealership must be open for business:
20 hours per week of which 10 hours must be between 9:00 AM and 5:00 PM
Monday through Friday.
During the hours filed with the MVDB and posted on the dealership door.
A salesperson is employed by a dealer, meaning:
He/she may not purchase vehicles to resell with their own funds.
Cannot be an independent contractor.
Individuals who are associated with a marketing firm who are retained by a dealer to
conduct a special sales event may assist in sales activities without obtaining a
salesperson’s license.
False.
A dealer can run a credit report on a customer who tests drives a vehicle and has not given permission to the dealership to run a credit report. (T/F)
False.
How long is a dealership required to maintain a copy of Print on Demand (PoD)
temporary tag registrations?
Five years.
Temporary Supplemental Sales (Off-Site Sales) applications (MVDB 22) must be
received at MVDB:
15 days prior to the off-site sale.
May only be issued for 8 off-site sales per year.
A temporary sales license may be issued for a period not to exceed seven (7)
days for cars/trucks OR fourteen (14) days for motorcycles, trailers, and
recreational vehicles.
How many years is a dealership required to maintain proof that a Virginia Safety
Inspection was performed prior to sale at retail?
5 years.
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.
Dealers are required to notify MVDB when closed during the posted (normal) business hours:
By completing the MVDB 40, Dealership Temporary Closing Notice and must
include date/time closed and date/time reopen the dealership.
