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OMVIC Questions with Correct Answer1.
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OMVIC Questions with Correct Answer1.
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OMVIC Questions with Correct AnswersCh.1 - What is the primary legislation governing Ontario's retail
automotive sector? Correct Answer-The Motor Vehicle Dealers Act,
2002
see 1.04
Ch.1 - Which body or agency enforces the MVDA?
a. Ministry of Government and Consumer Services
b. TADA
c. OMVIC
d. Automotive Business School of Canada Correct Answer-c. OMVIC
see 1.04
Ch.1 - List three functions carried out by OMVIC. Correct Answer-Any
three of the following:
- Administers and enforces the MVDA
- Inspects dealers
- Maintains a complaint line for consumers
- Conducts investigations
- Conducts disciplinary hearings
-Conducts prosecutions
,- Administers the Compensation Fund
see 1.07
Ch.1 - How many people compose OMVIC's Board of Directors? Of
these, how many represent the industry and how many represent the
consumers? Correct Answer-Twelve total, nine dealers and three
consumer reps
see 1.07
Ch.1 - Briefly explain the "Transaction Fee Program." Correct 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.
see 1.08
Ch.1 - True of False: Under the Transaction Fee Program, dealers are
required to remit $10 (to OMVIC) for each retail vehicle sold or leased.
Correct Answer-True
see 1.08
,Ch.1 - True or False: The transaction fee can be passed along to the
customer. Correct Answer-True
see 1.08
Ch.1 - 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 a salesperson
d. All of the above Correct Answer-d. All of the above
see 1.12
Ch.1 - Should OMVIC determine a dealer's advertising to be false or
misleading, what powers does OMVIC have to stop or correct it?
Correct Answer-OMVIC may issue an order requiring the dealer to
cease publication and/or issue a retractions or correction.
see 1.12
, Ch.1 - 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? Correct Answer-Up to two years
see 1.09
Ch.1 - 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. Correct Answer-This action might be
taken:
- 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
see 1.10
Ch.2 - What is the minimum age requirement to become a dealer?
Correct Answer-18
see 2.05
Ch.2 - List three requirements that must be met when applying to
become a salesperson. Correct Answer-Three requirements are:
- Complete/pass certification course
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