Exam (elaborations)
OMVIC GREASY DEALER EXAM QUESTIONS WITH ANSWERS
- Course
- Institution
OMVIC GREASY DEALER EXAM QUESTIONS WITH ANSWERS ...
[Show more]
Content preview
Which major piece of law controls the retail car industry in Ontario? ANSWER:The Motor Vehicle Dealers Act, 2002
Which organization or body upholds the MVDA?
a) Consumer Services Ministry
c) TADA/OADA
c) OMVIC
d) The OMVIC answer for the Automotive Business School of Canada
Name three tasks that OMVIC completes: ANSWER • Manages and upholds
the MVDA
• Examines vendors
• Keeps a customer complaint line open.
• carries out inquiries
• Has hearings for disciplinary actions
• Brings legal action
Oversees the Compensation Fund
What is the size of the OMVIC Board of Directors? How many of these are
customers and how many are industry representatives? A total of twelve,
consisting of nine dealers and three
customer representatives
Provide a brief explanation of the "Transaction Fee Program." - ANSWER
Dealers are
,obligated to pay $10 for every car sold or
leased, encompassing fleet and "as is" deals, to
OMVIC. Every year, these monies are sent with
the dealer's renewal charge for registration.
True or False: Dealers will have to pay $10 (to OMVIC) for every car sold or
leased under the Transaction Fee Program. - ANSWER T
Is it true that the consumer might be charged for the transaction fee? -
ANSWER T
Which information is publically available through OMVIC?
a) The name, location, and phone number of the dealer
b) The name of the salesman
c) Any suggestion to not extend, halt, or withdraw the
registration of a salesperson or dealer
d) Everything above - ANSWER Everything above
What authority does OMVIC have to halt or correct dealer advertising that it
finds to be incorrect or misleading? ANSWER OMVIC might issue a directive
mandating the dealer to
must stop publishing, issue a retractions, or
update.
How long may the dealer need to obtain OMVIC's preapproval before using an
order to stop or remedy deceptive advertising? - ANSWER Within two years
,choose two scenarios where OMVIC might ask a judge to choose a receiver and
manager to take over interim management of a dealership: ANSWER • If an
investigation has been conducted
If the dealership is on the verge of failing
• Should OMVIC suggest canceling a registration
• Should a freezing order be placed soon
Chapter 2: ANSWER
.. What is the age minimum needed to work as a dealer? - ANSWER 18
Name three prerequisites that must be fulfilled in order to be considered for
an advertiser. ANSWER: There are three prerequisites.
• Finish and pass the certification program.
• Cover the cost.
• Work for or be hired by a licensed dealer to
carry out a sales role
True or False: As part of the application screening procedure, all dealers and
salesperson applicants have their criminal records searched across the country. -
ANSWER T
Which of the following (check all that apply) needs to be registered with
OMVIC?
Dealers (a) and finance managers (d).
b) Salespeople e) Managers of services
, Managers of businesses - ANSWER a), b), c), d)
Give two reasons why OMVIC could reject a dealer's registration.
or salesman - ANSWER One or both of:
• Previous behavior
• A fraudulent application statement
• Did not follow the rules
• Impossible to expect to be prudent with money
• One claim has been settled by the Compensation Fund.
and has not received payment back
What is one need that must be fulfilled before a person who has been denied
registration can reapply? - ANSWER Among the subsequent:
• It has been two years.
• Fresh proof to
.. In the event that OMVIC proposes to deny (or cancel) registration, to whom
may the applicant file an appeal? - ANSWER The Tribunal for License Appeals
(LAT)
Enumerate four dealer "classes". - ANSWER Any four of the 2.16 classes
mentioned.
Provide three instances of people or companies who are not required to register.
ANSWER Any three from 2.14
Identify one "change of information" that the dealer is required to report to
OMVIC. - ANSWER One of the following options:
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 $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
71184 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now