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OMVIC FINAL EXAM WITH 300 ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS / OMVIC ONTARIO MOTOR VEHICLE INDUSTRY COUNCIL FINAL EXAM$18.29
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OMVIC FINAL EXAM WITH 300 ACTUAL EXAM
QUESTIONS AND CORRECT VERIFIED ANSWERS /
OMVIC ONTARIO MOTOR VEHICLE INDUSTRY
COUNCIL FINAL EXAM
Contracts must have advisory or educational statements designed to inform
purchasers/lessees about their rights and responsibilities and to ensure they know
about the existence of certain agencies or organizations. Name them. - ASNWER-
OMVIC, Motor Vehicle Dealer Compensation Fund, CAMVAP
If a customer gives a deposit but don't sign a contract, what rights do they have? -
ASNWER-If there is no signed contract and a deposit or trade in is given to the
dealer, the purchaser can cancel the contract at any time and demand his or her
deposit or trade in back.
List the "previous uses of a vehicle" a dealer must disclose - ASNWER-taxi, limo,
police vehicle, emergency services, daily rental (unless subsequently owned by
someone other than a dealer)
, How many people compose OMVIC's board of directors? - ASNWER-12 in total, 9
dealers and 3 consumer reps
What is the "transaction fee program"? - ASNWER-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.
T or F: the fee can be passed on to the consumer - ASNWER-True
What is OMVIC required to make available to the public? - ASNWER-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? - ASNWER-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? - ASNWER-up to 2 years
What is the minimum age requirement to become a dealer? - ASNWER-18
If a person has been refused registration, what are 2 conditions that have to be
met before the person can reapply? - ASNWER-2 years have passed; new evidence
to demonstrate circumstances
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