Omvic practice exam - Study guides, Class notes & Summaries

OMVIC EXAM / LATEST OMVIC PRACTICE EXAM ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS (MOST TESTED QUESTIONS FROM THE PAST EXAMS) A NEW UPDATED VERSION |GUARANTEED PASS. (BEST DOCUMENT FOR EXAM PREPARATION)

OMVIC CHAPTER 5 QUESTIONS WITH ANSWERS [PRACTICE EXAM] 1. List three "previous uses of a vehicle" dealers must disclose. 2. List three types of incident damage that must be dis- closed. 3. True or False: Dealer A buys from a daily rental com- pany a car previously used in the rental fleet. Dealer A then sells the car (giving full disclosure of the car's history as a daily rental) to a consumer who buys it for personal use. A year later, the consumer trades that car in to Dealer B. Deale...

What is the primary legislation governing Ontario's retail automotive sector? - ANSWER--MVDA Which body or agency enforces MVDA? - ANSWER--OMVIC How many people compose OMVIC's board of directors? - ANSWER-12 in total, 9 dealers and 3 consumer reps What is the "transaction fee program"? - ANSWER--under the transaction fee program, dealers are required to remit $10 for each vehicle sold or leased to OMVIC. These funds are remitted annually with the dealers registration renewal fee. ...