OMVIC REAL FINAL EXAM QUESTIONS AND VERIFIED SOLUTIONS 2024/2025 GRADED A+.
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OMVIC
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Liberty University
OMVIC REAL FINAL EXAM QUESTIONS AND VERIFIED SOLUTIONS 2024/2025 GRADED A+. 2 / 7 1. What is the primary legislation governing Ontario's retail automotive sec-tor?: MVDA 2. Which body or agency enforces MVDA?: OMVIC 3. How many people compose OMVIC's board
omvic real final exam questions and verified solut
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Liberty University
OMVIC
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OMVIC REAL FINAL EXAM QUESTIONS AND
VERIFIED SOLUTIONS 2024/2025 GRADED A+.
,OMVIC REAL FINAL EXAM QUESTIONS AND VERIFIED
SOLUTIONS 2024/2025 GRADED A+.
1. What is the primary legislation governing Ontario’s retail automotive sector?
Ans: MVDA
2. Which body or agency enforces the MVDA? Ans: OMVIC
3. List three functions carried out by OMVIC. Ans: Regulating manufacturers
4. How many people compose OMVIC’s Board of Directors? Of these, how many represent
the industry and how many represent consumers? Ans: 12 total, 9 dealer and 3
consumer
5. Briefly explain the “Transaction Fee Program.”
Ans: A 10$ fee paid by dealer to omvic for each vehicle sold
6. True or False: Under the Transaction Fee Program, dealers are required to remit $10 (to
OMVIC) for each retail vehicle sold or leased.
Ans: True
7. True or False: The transaction fee can be passed along to the customer. Ans: True
8. What information is OMVIC required to make available to the public?
a) All of the above
9. Should OMVIC determine a dealer’s advertising to be false or misleading, what powers
does OMVIC have to stop or correct it?
Ans: OMVIC can issue and order requiring the dealer to cease publication, issue a
retraction or correction
10. 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? Ans: Upto 2 years
11. 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.
Ans: If there has been as investigation,
, OMVIC REAL FINAL EXAM QUESTIONS AND VERIFIED
SOLUTIONS 2024/2025 GRADED A+.
dealer ship is about to fail a
freeze order about to be made
OMVIC is proposing to revoke registration.
Chapter 2
1. What is the minimum age requirement to become a dealer?
Ans: 18
2. List three requirements that must be met when applying to become a salesperson.
Ans: Posses two-year work experience not require to become salesperson
3. True or False: All dealer and salesperson applicants undergo a Canada-wide criminal
record search as part of the application screening process. Ans: True
4. Which of the following must be registered with OMVIC (select all that apply):
a) Dealers d) Finance managers
b) Salespersons D. Business managers
5. List two reasons why OMVIC might refuse the registration of a dealer or salesperson.
Ans: past conduct affords grounds for the applicant wnt’t conduct business with
honesty and integrity
The applicant failed to comply with term and conditions of registration.
6. If a person has been refused registration, what is one condition that has to be met
before the person can reapply? Ans: Two years has passes
7. Should OMVIC issue a proposal to refuse (or revoke) registration, to whom can the
applicant appeal?
Ans: License appeal Tribunal LAT
8. List four “classes” of dealers.
Ans: General Dealer for new and used vehicle, general dealer used vehicle, Broker and
outise Ontario dealer
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