OMVIC Greasy Dealer Exam 2024 | OMVIC
Greasy Dealer Actual Exam 2024 Questions
and Correct Answers Rated A+
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
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
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
Chapter 2
. 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
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
• New evidence to
. Should OMVIC issue a proposal to refuse (or revoke) registration, to
whom can the applicant appeal? -ANSWER-Licence Appeal Tribunal
(LAT)
List four "classes" of dealers. -ANSWER-Any four classes listed in
2.16
List three examples of individuals or businesses that are exempt from
registration -ANSWER-Any three from 2.14
Name one "change of information" that a dealer must notify OMVIC
about. -ANSWER-Any of the following:
• Change of dealer address
• Changes of officers or directors (if dealer is a
corporation or partnership)
• The date of commencement of employment of
every salesperson
• The termination of employment of a salesperson
and the date and reason for termination
Please choose the most correct answer:
In a large dealership, if the dealer principal delegates responsibility for
ensuring that salespersons are registered, this should be delegated to:
a) The bookkeeper c) The sales manager
b) The salesperson d) The payroll supervisor -ANSWER-c
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 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 paulynmugo. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £18.16. You're not tied to anything after your purchase.
