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Exam (elaborations)

NEW OMVIC TEST QUESTIONS WITH VERIFIED ANSWERS

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  • Course
  • OMVIC
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  • OMVIC

NEW OMVIC TEST QUESTIONS WITH VERIFIED ANSWERS...

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  • September 15, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Unknown
  • OMVIC
  • OMVIC
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Boostertips
Which law governs Ontario's retail automation sector the most? - ANSWER
MVDA

Which organization upholds the MVDA? - ANSWER OMVIC


What three tasks does OMVIC carry out? - ANSWER registers sellers and
dealers, examines vendors and looks into complaints from customers


Describe the transaction charge scheme. Dealers are required to pay OMVIC
$12.50 for each car they lease or sell.


Is it true or incorrect that the customer may be charged the transaction fee? -
Answer: Yes


What data must OMVIC provide to the general public? ANSWER A dealer's
phone number, address, and business name The name of the salesperson - that
the registration of the dealer or salesperson has been cancelled


What can OMVIC do to stop or correct a dealer's inaccurate or misleading
advertising if they discover it? - ANSWER Take down the advertisement and
give the go-ahead for a change.


How long may OMVIC force a dealer to obtain pre-approval for their
advertisements if they receive a false advertising order? - ANSWER For a
maximum of two years

, Which two circumstances might OMVIC bring before the court to designate a
"receiver and manager" to take over a dealership? - ANSWER If the dealer is
losing their registration, if the dealership is closing


What age is necessary as a minimum to become a dealer? - ANSWER 18



Enumerate the following three prerequisites for becoming a salesperson: pay the
money, finish the automobile certification course, and obtain a sales position.


True or false: As part of the registration application procedure, all dealers and
salespeople undergo a nationwide criminal record search. ANSWER: True


True or false: OMVIC registration is required for dealers, salespeople, business
managers, and finance managers. ANSWER: True


Give OMVIC two justifications for rejecting a dealer's or salesperson's
registration: a criminal history and poor financial standing.


How long is the wait period for someone to reapply if their registration has been
denied? - ANSWER two years


Who may someone appeal to if OMVIC proposes to deny or cancel their
registration? - License Appeal Tribunal (LAT) Answer


Name the following four categories of dealers: exporter, wholesaler, general
used, and general new.


Provide three instances of individuals or companies that are not required to
register with OMVIC: Rental Companies, Auctions, and Lawyers


Identify one update to the OMVIC database that dealers need to report.
ANSWER Address

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