2024 (OMVIC) ONTARIO MOTOR VEHICLE INDUSTRY COUNCIL FINAL EXAM WITH 300 ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS
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Course
ONTARIO MOTOR VEHICLE INDUSTRY COUNCIL
Institution
ONTARIO MOTOR VEHICLE INDUSTRY COUNCIL
What is the primary legislation governing Ontario's retail automotive sector? - Answer- MVDA
Which body or agency enforces MVDA? - Answer- OMVIC
How many people compose OMVIC's board of directors? - Answer- 12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? -...
2024 (OMVIC) ONTARIO MOTOR VEHICLE INDUSTRY COUNCIL FINAL
EXAM WITH 300 ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS
What is the primary legislation governing Ontario's retail automotive sector? - Answer- MVDA
Which body or agency enforces MVDA? - Answer- OMVIC
How many people compose OMVIC's board of directors? - Answer- 12 in total, 9 dealers and 3
consumer reps
What is the "transaction fee program"? - Answer- under the transaction fee program, dealers are
required to remit $10 for each vehicle sold or leased to OMVIC. These funds are remitted
annually with the dealers registration renewal fee.
The Motor Vehicle Dealers Act - Answer- the primary legislation governing Ontario's retail
automotive sector
OMVIC enforces the - Answer- Motor Vehicle Dealers Act
OMVIC carries out - Answer- - the inspection of dealers
- maintains a complaint line for customers
- conducts investigations
- administers and enforces the MVDA 2002
- conducts disciplinary hearings
- conducts prosecutions
- administers the compensation fund
,T or F: the fee can be passed on to the consumer - Answer- True
What is OMVIC required to make available to the public? - Answer- A dealers name, address
and phone number; a salespersons name; any proposal to refuse to renew, suspend or revoke the
registration of a dealer or salesperson
Should OMVIC determine a dealers advertising to be false or misleading what powers do they
have to stop or correct it? - Answer- Order to 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 pre approval for future advertising? - Answer- up to 2 years
What is the minimum age requirement to become a dealer? - Answer- 18
If a person has been refused registration, what are 2 conditions that have to be met before the
person can reapply? - Answer- 2 years have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the applicant appeal? - Answer-
LAT (license appeal tribunal ), Independent judicial body called LAT, within 15 days of
receiving the proposal
How many people compose OMVIC's board of directors? - Answer- 12 - 9 Dealers & 3
Consumer Reps
Transaction Fee Program - Answer- dealers are required to pay $5.00 for each vehicle sold or
leased to OMVIC
True or False : The transaction fee can be passed along to the consumer. - Answer- True : if the
dealership chooses to.
,What information is OMVIC required to make available to the public? - Answer- - business
name , address and phone number
- salesperson name
-any proposal to refuse suspend or revoke the registration of a dealer salesperson
List the 4 classes of dealers - Answer- General dealer, Broker, Exporter, Wholesaler, Lease
finance dealer
List 3 examples of individuals or businesses that are exempt from registration - Answer-
Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - Answer- Where the public can see it
T or F: Dealers may sell vehicles from any location so long as they have registered a head office
with OMVIC - Answer- False
T or F: the MVDA specifies the records a dealer must maintain- these records must be held for at
least 6 years. - Answer- True
Which records of employees must be maintained? - Answer- Employee names, proof of
payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? - Answer- OMVIC, in
writing, within 5 days
In order for a remote storage location to be approved by OMVIC, which condition must be met?
- Answer- The location is always accessible to OMVIC staff during normal business hours
T or F: Under the MVDA, all dealers are required to maintain a trust account - Answer- False
Deposits over what amount must be kept in a trust account? - Answer- $10 000 (ten thousand)
, T or F: Before issuing a freeze order (freezing the dealer's assets or trust funds), OMVIC must
first notify the dealer - Answer- False
On a purchase contact, what must be printed in 14 pt. bold font next to the buyer's signature? -
Answer- This "sales final" statement on the same page as the buyer's signature and adjacent to
the signature
If a dealer does not have a specific new vehicle in stock, but will locate the vehicle and bring it
in, what must be disclosed to the purchaser regarding the mileage? - Answer- A maximum
distance that will be shown on the odometer at the same time of delivery or a statement that there
is no maximum
If OMVIC determines that a dealer's advertising is false or misleading, what do they do to
correct it? - Answer- cease publication and issue 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? - Answer- up to 2 years
Possible situations which could result in OMVIC applying to court appoint a receiver and
manager to assume temporary control of a dealership: - Answer- - 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
If a statement Standards Certificate is issues for a vehicle, it means? - Answer- The vehicle met
certain basic standards of safety on the date of inspection
An "as is" sale? - Answer- Must include a specific definition of "as is" in the contract
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