Colorado Sales License Practice Test

A dealer is required to report a felony conviction within 30 days, which is why 30 days is the correct answer. This reporting requirement is put in place to ensure that the relevant authorities are informed of any legal issues that may affect the dealer's fitness to operate within the state. Timely reporting of felony convictions helps to maintain transparency and uphold industry standards. This time frame allows for the prompt resolution of any regulatory concerns that could arise from the conviction, ensuring that the dealer continues to adhere to the laws governing their business practices.