OMVIC Chapter 1-18 Questions and Answers 2023 with complete solution
What is the primary legislation governing Ontario's retail automotive sector?
Moter Vehicle Dealers Act, 2002
Which body or agency enforces MVDA?
OMVIC
List Three Functions carried out by OMVIC
1) Administers and enforces ...
omvic chapter 1 18 questions and answers 2023 with complete solution what is the primary legislation governing ontarios retail automotive sector moter vehicle dealers act
Written for
OMVIC
All documents for this subject (594)
2
reviews
By: menafahem • 11 months ago
By: jlaxton79 • 1 year ago
Seller
Follow
magdamwikash23
Reviews received
Content preview
OMVIC Chapter 1-18 Questions and Answers 2023 with
complete solution
What is the primary legislation governing Ontario's retail automotive sector?
Moter Vehicle Dealers Act, 2002
Which body or agency enforces MVDA?
OMVIC
List Three Functions carried out by OMVIC
1) Administers and enforces the MVDA
2) Inspects dealers
3)Maintains a complaint line for consumers
4) Conducts investigations
5) Conducts disciplinary hearings
6) Conducts prosecutions
7) Administers the Compensation Fund
How many people compose OMVICS board of directors? How many dealers ? How
many consumers?
12 total
9 dealer
3 consumer
Briefly explain the "Transactional Fee Program"
Under the transaction fee program , dealer are required to remit $10 for each vehicle
sold or leased (included fleet and "as is" transactions ) to OMVIC. These funds are
remitted annually with the dealers registration renewal fee.
True or False: The transaction fee can be passed along to the customer?
True
True or False: Under the Transaction Fee Program, dealers are required to remit $10
(to OMVIC) for each retail vehicle sold or leased?
True
What information is OMVIC required to make available to the public?
1) A dealer's business name, address and phone number
2) A salespersons name
3) Any proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson
Should OMVIC determine a dealers advertising to be false or misleading, what powers
does OMVIC have to stop or correct it?
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?
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.
, This action might be taken if:
1) If there has been an investigation
2) If the dealership is about to fail
3) If OMVIC is proposing to revoke a registration
4) If a freeze order is about to be made
What is the minimum age requirement to become a dealer?
18 years old
List the three requirements that must be met when applying to become a salesperson?
1) Complete/Pass certification course
2) Pay Fee
3) Be employed or retained by a registered dealer to 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.
True
Which of the following must be registered with OMVIC?
1) Dealers
2) Salesperson
3) Business managers
4) Finance Managers
NOT
1) Service Managers
List two reasons why OMVIC might refuse the registration of a dealer or salesperson?
1) Past conduct
2) False statement on application
3) Failed to comply with terms
4) Cannot be expected to be financially responsible
5) 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?
One of the following:
1) Two years have passed
2) New evidence to demonstrate circumstances have changed
Should OMVIC issue a proposal to refuse (or revoke) registration , to whom can the
applicant appeal?
License Appeal Tribunal (LAT)
List the four "classes" of dealers
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 magdamwikash23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
