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OMVIC Greasy Dealer Questions and Answer | Latest Update 2024/2025 £10.66   Add to cart

Exam (elaborations)

OMVIC Greasy Dealer Questions and Answer | Latest Update 2024/2025

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  • Module
  • OMVIC
  • Institution
  • OMVIC

What is the primary legislation governing Ontario's retail automotive sector ~~> 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 ~~> OMVIC List three functions ...

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  • September 16, 2024
  • 61
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • OMVIC
  • OMVIC
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1 | P a g e | © copyright 2024/2025 | Grade A+




OMVIC Greasy Dealer Questions
and Answer | Latest Update
2024/2025
What is the primary legislation governing Ontario's retail automotive sector


✓ ~~> 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


✓ ~~> OMVIC




List three functions carried out by OMVIC


✓ ~~> • Administers and enforces the MVDA

• Inspects dealers


• Maintains a complaint line for consumers


• Conducts investigations


• Conducts disciplinary hearings


Master01 | September, 2024/2025 | Latest update

, 2 | P a g e | © copyright 2024/2025 | Grade A+


• 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?


✓ ~~> Twelve total, nine dealers and three

consumer reps




Briefly explain the "Transaction Fee Program."


✓ ~~> 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.


✓ ~~> T




Master01 | September, 2024/2025 | Latest update

, 3 | P a g e | © copyright 2024/2025 | Grade A+


True or False: The transaction fee can be passed along to the customer.


✓ ~~> 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


✓ ~~> 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?


✓ ~~> 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?




Master01 | September, 2024/2025 | Latest update

, 4 | P a g e | © copyright 2024/2025 | Grade A+


✓ ~~> 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


✓ ~~> • 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


✓ ~~>




. What is the minimum age requirement to become a dealer?


✓ ~~> 18




List three requirements that must be met when applying to become


a salesperson.


✓ ~~> Three requirements are:

• Complete/pass certification course


Master01 | September, 2024/2025 | Latest update

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