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OMVIC EXAM QUESTIONS AND ANSWERS
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OMVIC EXAM QUESTIONS ANDANSWERS 2024-2025
What is the main piece of legislation controlling the retail car industry in
Ontario? - ANSWER MVDA
Which organisation or body upholds MVDA? - ANSWER OMVIC
What is the size of OMVIC's board of directors? ANSWER 12 overall,
consisting of 3 customer representatives and 9 dealers
The "transaction fee program": what is it? Dealers must pay $10 to OMVIC for
each car sold or leased as part of the transaction fee program. Together with the
dealer registration renewal charge, these payments are sent out every year.
T or F: The customer may be charged for the fee - ANSWER True
What information must OMVIC make publicly available? - ANSWER The
name, address, and phone number of the dealer; the name of the salesperson;
and any suggestion to decline to extend, suspend, or cancel the dealer's or
salesperson's registration
What authority does OMVIC have to stop or rectify a dealer's inaccurate or
misleading advertising, should they find it to be such? - ANSWER Direct the
dealer to stop publishing and/or issue a clarification or withdrawal.
How long may the dealer have to apply for OMVIC preapproval before using an
order to stop or remedy deceptive advertising? - ANSWER within two years
What is the age minimum needed to work as a dealer? - ANSWER 18
, What two requirements must be satisfied before someone can reapply if their
registration has been denied? - ANSWER: Since two years have gone, new
information has emerged to show the situation
Who may the applicant appeal to if OMVIC proposes to deny them registration?
- Respond to the proposal within 15 days of obtaining it from the independent
judicial authority known as the License Appeal Tribunal (LAT).
Enumerate the four categories of dealers: exporter, wholesaler, broker, general
dealer, and dealer in lease finance.
Provide three instances of people or companies that are not required to register:
wholesalers, wreckers, and solicitors
Where is the dealer registration certificate stored? - ANSWER Where it is
visible to the public
T or F: As long as a dealer has registered a head office with OMVIC, they are
allowed to sell cars from any location. ANSWER False
T or F: The documents that a dealer is required to keep must be kept for a
minimum of six years, per the MVDA. - ANSWER Valid
Which employee records need to be kept up to date? - ANSWER Payroll
details, employee names, and evidence of payments
Does a dealer have to report if their data are lost, stolen, or destroyed? -
ANSWER IN WRITING TO OMVIC within five days.
Which prerequisite must be satisfied for OMVIC to approve a remote storage
location? - ANSWER OMVIC employees can always visit the facility during
regular business hours.
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