1. To benefit from the Federal Sentencing Guidelines, ethics / compliance training muse be taken?

a.) Yearly

b.) Every three years

c.) On an on-going basis

2. According to the U.S. Sentencing Commission, if certain ethics / compliance training requirements are met, a $2.5 million fine could be reduced to $125,000?

a.) True

b.) False

3. According to the "Federal Truth in Lending Act", if all the Federal Truth in Lending boxes are accurately filled out and disclosed on the retail installment contract the customer signs at your dealership, by law, your dealership has properly disclosed this information to their customer?

a.) True

b.) False

4. When conducting a transaction in Spanish, your dealership must display Spanish buyers guides on the vehicles?

a.) True

b.) False

5. Your dealership must check in the "SDN Blocked Persons List" on every customer you do business with?

a.) True

b.) False

6. It is legal to quote a payment to a customer that includes "leg" or room for the Finance Department?

a.) True

b.) False

7. When a customer is "upside down" on their trade-in, the proper way to call in the deal to the bank is to inflate the value of the car being purchased and equally inflate the trade value so the customer pays the same amount agreed upon for the transaction and shows equity in the trade?

a.) True

b.) False

8. Every customer who wants to purchase a vehicle needs to be submitted to a lender by your dealership even if they have no chance of being approved?

a.) True

b.) False

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