Colorado Car Sales Practice Test

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Prepare for the Colorado Car Sales Exam. Use flashcards and multiple-choice questions with hints and explanations. Get ready for success!

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What must a dealer do if there are no remaining reassignments on the back of the title?

Complete a Statement of Fact to reassign the title
Get approval from the DMV
Immediately sell the vehicle
Transfer the title to another dealer

The correct answer is: Complete a Statement of Fact to reassign the title

When there are no remaining reassignments on the back of the title, completing a Statement of Fact to reassign the title is necessary to continue the process of transferring ownership. This statement serves as a formal document providing the details needed for a new assignment of the title. The process ensures that the transaction is well-documented and that all parties involved have a clear understanding of the vehicle's ownership transfer. Other options may involve actions that are either not directly related to the reassignment process or require additional steps that aren't necessary in this specific case. For example, getting approval from the DMV is typically not required after confirming that all reassignments have been used up. Selling the vehicle immediately without proper title assignment doesn't meet legal requirements, and transferring the title to another dealer without addressing the reassignments first would not comply with title transfer regulations.