Association of Finance and Insurance Professionals Test

[Delorean02378]

This Friday, I'm taking the AFIP test. Check out this practice test question. Out of the 125 questions, no vehicle manufacturers are mentioned except for one. Look at answer C. below.

Question 6
Marks: 0.80/1.00

In which of the following situations would an odometer disclosure statement NOT be required?

Choose one answer.
a. The vehicle weighs more than 16,000 pounds
b. The unit is not self-propelled (i.e., a trailer)
c. The vehicle has been out of production for more than 5 model years and is no longer being manufactured (i.e., a DeLorean)
d. The vehicle is manufactured in a model year beginning at least 10 years before January 1 of the calendar year in which the transfer occurs
e. All of the above
f. All of the above except c
Correct

Under the FOA, the DOT is empowered to exempt vehicles. Thus far, it has elected to exempt the following:

• Vehicles over 16,000 pounds,

Vehicles that are not self-propelled, or

Vehicles manufactured in a model year beginning at least 10 years before January 1 of the calendar year in which the transfer occurs.

(F&I Legal Deskbook Chapter 10, Question 16)

[David T]

This Friday, I'm taking the AFIP test. Check out this practice test question. Out of the 125 questions, no vehicle manufacturers are mentioned except for one. Look at answer C. below.

Question 6
Marks: 0.80/1.00

In which of the following situations would an odometer disclosure statement NOT be required?

Choose one answer.
a. The vehicle weighs more than 16,000 pounds
b. The unit is not self-propelled (i.e., a trailer)
c. The vehicle has been out of production for more than 5 model years and is no longer being manufactured (i.e., a DeLorean)
d. The vehicle is manufactured in a model year beginning at least 10 years before January 1 of the calendar year in which the transfer occurs
e. All of the above
f. All of the above except c
Correct

Under the FOA, the DOT is empowered to exempt vehicles. Thus far, it has elected to exempt the following:

• Vehicles over 16,000 pounds,

Vehicles that are not self-propelled, or

Vehicles manufactured in a model year beginning at least 10 years before January 1 of the calendar year in which the transfer occurs.

(F&I Legal Deskbook Chapter 10, Question 16)

The answer is specific to each State. The rules vary. In every case I know of you WILL disclose mileage if you sellt he car on the Title unless it is a trailer in which case there is no odometer.

[Dangermouse]

Or, if you don't, in GA at least, they use the last odometer reading that the DMV has, which leads to a "flag" on a carfax report.