OMVIC GREASY DEALER EXAM QUESTIONS AND ANSWERS {GRADED A}
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Course
OMVIC
Institution
OMVIC
OMVIC GREASY DEALER EXAM QUESTIONS AND
ANSWERS {GRADED A}
What is the primary legislation governing Ontario's retail automotive sector
- The Motor Vehicle Dealers Act, 2002
Which body or agency enforces the MVDA?
a) Ministry of Consumer Services
b) OADA/TADA
c) OMVIC
d) Automotive Bu...
What is the primary legislation governing Ontario's retail automotive sector
- ✔✔The Motor Vehicle Dealers Act, 2002
Which body or agency enforces the MVDA?
a) Ministry of Consumer Services
b) OADA/TADA
c) OMVIC
d) Automotive Business School of Canada - ✔✔OMVIC
List three functions carried out by OMVIC - ✔✔• Administers and enforces
the MVDA
• Inspects dealers
• Maintains a complaint line for consumers
• Conducts investigations
• Conducts disciplinary hearings
• Conducts prosecutions
• Administers the Compensation Fund
,How many people compose OMVIC's Board of Directors? Of these, how
many represent the industry and how many represent consumers? -
✔✔Twelve total, nine dealers and three
consumer reps
Briefly explain the "Transaction Fee Program." - ✔✔Under the transaction
fee program, dealers are
required to remit $10 for each vehicle sold or
leased (including fleet and "as is" transactions) to
OMVIC. These funds are remitted annually with
the dealer's registration renewal fee.
True or False: Under the Transaction Fee Program, dealers will be required
to remit $10 (to OMVIC) for each vehicle sold or leased. - ✔✔T
True or False: The transaction fee can be passed along to the customer. -
✔✔T
What information is OMVIC required to make available to the public?
a) A dealer's business name, address and phone number
b) A salesperson's name
c) Any proposal to refuse to renew, suspend or revoke the
registration of a dealer or salesperson
d) All of the above - ✔✔All of the above
,Should OMVIC determine a dealer's 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.
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
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 - ✔✔• If there has been an investigation
• If the dealership is about to fail
• If OMVIC is proposing to revoke a registration
• If a freeze order is about to be made
Capter 2 - ✔✔
. What is the minimum age requirement to become a dealer? - ✔✔18
List three requirements that must be met when applying to become
a salesperson. - ✔✔Three requirements are:
• Complete/pass certification course
, • Pay fee
• Be employed or retained by a registered dealer to
act as a salesperson
True or False: All dealer and salesperson applicants undergo a Canada-
wide criminal record search as part of the application screening process. -
✔✔T
Which of the following must be registered with OMVIC (select all that
apply):
a) Dealers d) Finance managers
b) Salespersons e) Service managers
c) Business managers - ✔✔a), b), c), d)
List two reasons why OMVIC might refuse the registration of a dealer
or salesperson - ✔✔Any two of:
• Past conduct
• False statement on application
• Failed to comply with terms
• Cannot be expected to be financially responsible
• The Compensation Fund has paid out a claim
and has not been reimbursed
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