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Question 1 of 2
1. Question
State and Federal regulatory agencies have no authority over Dealers. Only the DMV can impose penalties should they fail to abide by the laws and regulations governing Dealers.
CorrectIncorrectHint
The DMV, as well as State and Federal regulatory agencies, can limit, suspend, or revoke a Dealer’s license and or impose penalties should they fail to abide by the laws and regulations governing Dealers.
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Question 2 of 2
2. Question
A Dealer’s License is automatically canceled when the:
- Dealer abandons or changes their location without immediately notifying the DMV
- Dealer fails to maintain an adequate Surety Bond
- Person designated as the Dealer has changed
- Corporate status of the Dealer is suspended or revoked
- Board of Equalization suspends or revokes the Dealer’s Seller’s Permit
CorrectIncorrectHint
California Vehicle Code Section 11721 provides for the automatic cancellation of a Dealer’s License and Special Plate when the:
- Dealer abandons or changes their location without immediately notifying the DMV
- Dealer fails to maintain an adequate Surety Bond
- Dealer voluntary or involuntary surrenders the Special Plates and License
- Person designated as the Dealer has changed
- Corporate status of the Dealer is suspended or revoked
- Board of Equalization suspends or revokes the Dealer’s Seller’s Permit