Motor Vehicle Division Exam

What is the primary purpose of a motor vehicle dealer surety bond?

To insure the dealership's vehicle inventory against theft or damage. To pay for the dealership's licensing and registration fees with the state. To provide a source of funds for paying dealership employees and vendors. To protect consumers from financial loss due to a dealer's fraudulent or unlawful actions.

Correct Answer:

To protect consumers from financial loss due to a dealer's fraudulent or unlawful actions.

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