0 of 3 Questions completed
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
0 of 3 Questions answered correctly
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
You can click “View Questions” to see which questions you answered right (or wrong)
When Dealers sell a Vehicle to a Consumer, they must:CorrectIncorrect
A “Report of Sale — Used Vehicle” (DMV form REG 51) must be completed when you sell a vehicle to a Consumer and
- Attach* the bottom tear-off section (bottom 1/3rd) of the Report of Sale to the sold vehicle before delivery of the vehicle to the Buyer
- Submit the main (upper) portion of the REG 51 with other title transfer documents
*Choose an area that won’t block the driver’s vision such as the lower, passenger side of the windshield.
Dealers no longer allowed to use “preprinted” Report of Sale forms that were previously provided by the DMV. All Reports of Sale, including the REG 51, must be entered online and printed on standard paper.CorrectIncorrect
Dealers must securely store their Reports of Sale at their principal place of business for:CorrectIncorrect
The California Code of Regulations (CCR) Title 13 §§272.00 requires Dealers to:
- Securely store all records including their Reports of Sale and are required to “implement federal safeguard standards for storage” and maintain the records vehicle transaction for 90 days (was 18 months) at the principal place of business or branch location.
- After 3 months (90 days), use an offsite storage facility within the state or third-party vendor to maintain records for a total storage requirement of 36 months / 3 years.