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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Boostertips. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.