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Study Guide - Dealer Operator: General Information

  1. Reference to the Federal Trade Commission Buyers Guide must be included on the
    1. Title.
    2. Reassignment.
    3. Buyers Order.
    4. The Federal Trade Commission requires that a reference be made on the buyers order.
  2. Prior to purchasing a vehicle without a Virginia inspection sticker from an auction, the vehicle may be test driven:
    1. Only on the auction property.
    2. Within a 5 mile radius of the auction.
    3. Only within sight of the auction.
    4. Within a 10 mile radius of the auction.
    5. 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.
  3. Vehicles purchased at auction may be driven on the highway without a Virginia inspection sticker:
    1. Between the auction and the purchaser's place of business.
    2. Only to the nearest state inspection station.
    3. If the vehicle has an out-of-state inspection sticker.
    4. Only between the hours of 6 p.m. and 6 a.m.
    5. 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.
  4. If an extended service agreement contract is written between the dealer and its customer, with the provider as the administrator, and the provider goes out of business, the responsible party for repairs under the contract is the:
    1. Customer.
    2. Dealer.
    3. Commonwealth of Virginia.
    4. Manufacturer.
    5. If an extended service agreement contract is written between the dealer and its customer, with the provider as the administrator, and the provider goes out of business, the responsible party for repairs under the contract is the dealer.
  5. If a customer declares bankruptcy within 90 days of the date of a sale of a vehicle, the lender who holds a security interest in the vehicle may become an unsecured creditor if the lien was not recorded within:
    1. 10 days.
    2. 20 days.
    3. 30 days.
    4. If a customer declares bankruptcy within 90 days of the date of a sale of a vehicle, the lender who holds a security interest in the vehicle may become an unsecured creditor if the lien was not recorded within 30 days.

Section 13 of Study Guide
Section 11 of Study Guide