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Exam (elaborations)

omvic chapter 7 study guide with complete solutions

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  • 2024/2025
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omvic chapter 7 study guide with complete solutions Check any statement that is correct (there may be more than one correct statement): When selling to another dealer: - Answer-Selling dealers must disclose previous use as a taxi, police vehicle, etc,Selling dealers must disclose damage repairs...

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  • October 6, 2024
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omvic chapter 7 study guide with
complete solutions

Check any statement that is correct (there may be more than one correct statement): When selling to

another dealer: - Answer✔✔-Selling dealers must disclose previous use as a taxi, police vehicle,

etc,Selling dealers must disclose damage repairs in excess of $3,000 ,Selling dealers must disclose if the

vehicle has two or more adjacent , panels (that are not bumper panels) that have been replaced


Are the requirements for the sale or lease of a vehicle to another dealer in


the MVDA the General Regulations or the Code of Ethics Regulations? - Answer✔✔-Code of ethics

regulations


Provide two potential facts related to a vehicles history (not including the examples given in question 1)

that must be disclosed in dealer-to-dealer sales and leases. - Answer✔✔-704 any of 1-21


True or False: In dealer-to-dealer transactions, the following disclosure is not required as it is for retail

transactions only - any fact about the vehicle


that affects the structural or mechanical quality or performance of the vehicle that, if disclosed, could

reasonably be expected to influence the decision of a reasonable buyer or lessee to buy or lease the

vehicle. - Answer✔✔-False


When selling to another dealer, what must the selling dealer do if he/she cannot determine the distance

the vehicle has been driven? - Answer✔✔-If the vehicle is a used motor vehicle and the dealer cannot




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