OMVIC Chapter 1-18 100% Correct Answers Verified Latest 2024 Version
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OMVIC Chapter 1-18 | 100% Correct Answers
| Verified | Latest 2024 Version
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 an...
OMVIC Chapter 1-18 | 100% Correct Answers
| Verified | Latest 2024 Version
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
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