GENERAL INFORMATION

Question 1

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

Answer 1

10th

Question 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:

Answer 2

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

Question 3

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

Answer 3

With both cash and finance transactions.

Question 4

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

Answer 4

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

Question 5

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

Answer 5

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

Question 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:

Answer 6

The tax is not refundable

Question 7

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

Answer 7

The Virginia Department of Taxation

Question 8

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

Answer 8

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.

Question 9

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

Answer 9

5 years.

Question 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?

Answer 10

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