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Exam (elaborations)

OMVIC Greasy Dealer Exam Study Guide with Correct Answers

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OMVIC Greasy Dealer Exam Study Guide with Correct Answers What is the primary legislation governing Ontario's retail automotive sector - Answer-The Motor Vehicle Dealers Act, 2002 Which body or agency enforces the MVDA? a) Ministry of Consumer Services b) OADA/TADA c) OMVIC d) Automotive Bu...

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  • October 6, 2024
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  • 2024/2025
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FIRST PUBLISH SEPTEMBER 2024




OMVIC Greasy Dealer Exam Study
Guide with Correct Answers

What is the primary legislation governing Ontario's retail automotive sector - Answer✔✔-The Motor

Vehicle Dealers Act, 2002


Which body or agency enforces the MVDA?


a) Ministry of Consumer Services


b) OADA/TADA


c) OMVIC


d) Automotive Business School of Canada - Answer✔✔-OMVIC


List three functions carried out by OMVIC - Answer✔✔-• Administers and enforces the MVDA


• Inspects dealers


• Maintains a complaint line for consumers


• Conducts investigations


• Conducts disciplinary hearings


• Conducts prosecutions


• Administers the Compensation Fund




Page 1/43

,EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024


How many people compose OMVIC's Board of Directors? Of these, how many represent the industry and

how many represent consumers? - Answer✔✔-Twelve total, nine dealers and three


consumer reps


Briefly explain the "Transaction Fee Program." - Answer✔✔-Under the transaction fee program, dealers

are


required to remit $10 for each vehicle sold or


leased (including fleet and "as is" transactions) to


OMVIC. These funds are remitted annually with


the dealer's registration renewal fee.


True or False: Under the Transaction Fee Program, dealers will be required to remit $10 (to OMVIC) for

each vehicle sold or leased. - Answer✔✔-T


True or False: The transaction fee can be passed along to the customer. - Answer✔✔-T


What information is OMVIC required to make available to the public?


a) A dealer's business name, address and phone number


b) A salesperson's name


c) Any proposal to refuse to renew, suspend or revoke the


registration of a dealer or salesperson


d) All of the above - Answer✔✔-All of the above



Page 2/43

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FIRST PUBLISH SEPTEMBER 2024


Should OMVIC determine a dealer's advertising to be false or misleading, what powers does OMVIC have

to stop or correct it? - Answer✔✔-OMVIC may issue an order requiring 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's

pre-approval for future advertising? - Answer✔✔-Up to 2 years


List two possible situations which could result in OMVIC applying to a court to appoint a receiver and

manager to assume temporary control of a dealership - Answer✔✔-• If there has been an investigation


• If the dealership is about to fail


• If OMVIC is proposing to revoke a registration


• If a freeze order is about to be made


Capter 2 - Answer✔✔-


. What is the minimum age requirement to become a dealer? - Answer✔✔-18


List three requirements that must be met when applying to become


a salesperson. - Answer✔✔-Three requirements are:


• Complete/pass certification course


• Pay fee


• Be employed or retained by a registered dealer to



Page 3/43

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FIRST PUBLISH SEPTEMBER 2024


act as a salesperson


True or False: All dealer and salesperson applicants undergo a Canada-wide criminal record search as

part of the application screening process. - Answer✔✔-T


Which of the following must be registered with OMVIC (select all that apply):


a) Dealers d) Finance managers


b) Salespersons e) Service managers


c) Business managers - Answer✔✔-a), b), c), d)


List two reasons why OMVIC might refuse the registration of a dealer


or salesperson - Answer✔✔-Any two of:


• Past conduct


• False statement on application


• Failed to comply with terms


• Cannot be expected to be financially responsible


• The Compensation Fund has paid out a claim


and has not been reimbursed


If a person has been refused registration, what is one condition that has to be met before the person can

reapply? - Answer✔✔-One of the following:


• Two years have passed



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