Exam (elaborations)
NEW OMVIC TEST QUESTIONS WITH VERIFIED ANSWERS
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NEW OMVIC TEST QUESTIONS WITH VERIFIED ANSWERS...
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Which law governs Ontario's retail automation sector the most? - ANSWERMVDA
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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