OMVIC Chapter 1-18/ 58 Questions and Answers 2024 (Latest Update)
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Course
OMVIC
Institution
OMVIC
This collection features the questions most frequently tested on the OMVIC 2024 exam. Ace your test effortlessly with this well-researched material, compiled from recent exams.
1. What is the primary legislation governing Ontario's retail automotive sec- tor?:
Moter Vehicle Dealers Act, 2002
2. Which body or agency enforces MVDA?: OMVIC
3. List Three Functions carried out by OMVIC: 1) Administers and enforces the MVDA
2) Inspects dealers
3) Maintains a complaint line for consumers
4) Conducts investigations
5) Conducts disciplinary hearings
6) Conducts prosecutions
7) Administers the Compensation Fund
4. How many people compose OMVICS board of directors? How many deal- ers ? How
many consumers?: 12 total
9 dealer
3 consumer
5. Briefly explain the "Transactional Fee Program": Under the transaction fee program
, dealer are required to remit $10 for each vehicle sold or leased (included fleet and "as
is" transactions ) to OMVIC. These funds are remitted annually with the dealers
registration renewal fee.
6. True or False: The transaction fee can be passed along to the customer?-
: True
7. True or False: Under the Transaction Fee Program, dealers are required to remit $10
(to OMVIC) for each retail vehicle sold or leased?: True
8. What information is OMVIC required to make available to the public?: 1) A dealer's
business name, address and phone number
2) A salespersons name
3) Any proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson
9. Should OMVIC determine a dealers advertising to be false or misleading, what
powers does OMVIC have to stop or correct it?: OMVIC may issue
an order requiring the dealer to cease publication and/or issue a retraction or correction
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, OMVIC Chapter 1-18/ 58 Questions and Answers 2023
10.If an order is used to stop or correct false advertising, for how long may the
dealer need to seek OMVIC's pre-approval for future advertising?: Up to 2 years
11.List two possible situations which could result in OMVIC applying to a court to
appoint a receiver and manager to assume temporary control of a dealership.: This
action might be taken if:
1) If there has been an investigation
2) If the dealership is about to fail
3) If OMVIC is proposing to revoke a registration
4) If a freeze order is about to be made
12.What is the minimum age requirement to become a dealer?: 18 years old
13.List the three requirements that must be met when applying to become a
salesperson?: 1) Complete/Pass certification course
2) Pay Fee
3) Be employed or retained by a registered dealer to act as a salesperson
14. True or False: All dealer and salesperson applicants undergo a Cana- da-wide
criminal record search as part of the application screening process.-
: True
15.Which of the following must be registered with OMVIC?: 1) Dealers
2) Salesperson
3) Business managers
4) Finance Managers
NOT
1) Service Managers
16.List two reasons why OMVIC might refuse the registration of a dealer or
salesperson?: 1) Past conduct
2) False statement on application
3) Failed to comply with terms
4) Cannot be expected to be financially responsible
5)The Compensation Fund has paid out a claim and has not been reimbursed
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