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2024 OMVIC FINAL EXAM WITH 300 ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWER1

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2024 OMVIC FINAL EXAM WITH 300 ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWER1

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  • November 22, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • 2024 OMVIC
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2024 OMVIC FINAL EXAM WITH 300 ACTUAL EXAM
QUESTIONS AND CORRECT VERIFIED ANSWERS /
OMVIC ONTARIO MOTOR VEHICLE INDUSTRY
COUNCIL FINAL EXAM LATEST 2024 (NEWEST!!)


AN OMVIC Inspector has the right to access dealer records, but not the vehicles on the
dealer's lot.

A) True
B) False - ANSWER B) False

What is the primary legislation that governs Ontario's retail automotive sector?

A) MVDA
B) OMVIC
C) OADA/TADA
D) ABSC - ANSWER A) MVDA

Which ministry or agency enforces the MVDA?

A) Ministry of Government and Consumers Services
B) TADA
C) OMVIC
D) Ministry of Transportation - ANSWER C) OMVIC

Which of the following is NOT a function carried, out by OMVIC?

A) Inspecting dealers
B) Regulating manufacturers
C) Enforcing the MVDA
D) Administering the Motor Vehicle Dealers Compensation Fund - ANSWER B)
Regulating manufacturers

How many people compose OMVIC's Board of Directors? Of these, how many
represent the industry and how many represent consumers?

A) Ten total, six dealer and four consumer representatives

B) Twelve total, three dealer and nine consumer representatives

C) Ten total, five dealer and five consumer representatives

,D) Twelve total nine dealer and three consumer representatives - ANSWER D) Twelve
total nine dealer and three consumer representatives

What is the "Transaction Fee Program"?

A) A $5 fee paid by dealers to OMVIC for each vehicle sold or leased (not including
wholesale transactions)

B) A monthly $10 fee paid by registered salespeople to OMVIC

C) A $7 fee paid by dealers to OMVIC for each vehicle sold or leased (not including
wholesale transactions)

D) A $10 fee paid by dealers to OMVIC for each vehicle sold or leased (not including
wholesale transactions) - ANSWER A $10 fee paid by dealers to OMVIC for each
vehicle sold or leased (not including wholesale transactions)

Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for
each retail vehicle sold or leased.

A) True
B) False - ANSWER A) True

The transaction fee can be passed along to the customer?

A) True
B) False - ANSWER A) True

What information is OMVIC required to make available to the public?

A) A dealer's business name, address and phone number

B) A saleperson's name

C) Any proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson

D) Any OMVIC related charge, conviction or discipline decision

E) All of the above - ANSWER E) All of the above

Should OMVIC determine a dealer's advertising to be false or misleading what powers
does OMVIC have to sotp or correct it?

A) OMVIC can issue an order requiring the dealer to cease publication and/or issue a
retraction or correction

, B) OMVIC does not have powers to stop the publication

C) OMVIC can only issue fines for false or misleading advertising - ANSWER A) OMVIC
can issue an order requiring the dealer to cease publication and/or issue a retraction or
correction

If a dealer violates the advertising regulations, for how long may a dealer be required to
seek OMVIC'S pre-approval for future advertising?

A) Up to a year
B) Up to 2 years
C) Up to 5 years
D) Up to 6 months - ANSWER B) Up to 2 years

Select all possible situations which could result in OMVIC applying to court to appoint a
receiver and manager to assume temporary control of a dealership.

A) If there has been an investigation
B) If the dealership is about to fail
C) If a freeze order is about to be made
D) If the dealer has been convicted
E) If OMVIC is proposing to revoke a registration - ANSWER A) If there has been an
investigation
B) If the dealership is about to fail
C) If a freeze order is about to be made
E) If OMVIC is proposing to revoke a registration

What is the minimum age requirement to become a dealer?

A) 21
B) 18
C) 19
D) 25 - ANSWER B) 18

Which of the following is NOT a requirement that must be met when applying to become
a salesperson?

A) Complete and pass the Certification Course
B) Pay appropriate fee
C) Possess two year's work experience
D) be employed or retained by a registered dealer to act as a salesperson - ANSWER
C) Possess two year's work experience

All dealer and salesperson applicants undergo a Canada-wide criminal record search as
part of the application screening process.

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