OMVIC FINAL EXAM PRACTICE QUESTIONS AND
CORRECT DETAILED ANSWERS WITH RATIONALES
2026 GRADED A+ PASS GUARANTEE
PROFESSIONAL REVIEW
100 exam questions and answers
What is the primary legislation governing Ontario's retail automotive sector? -
CORRECT ANSWER -MVDA
Which body or agency enforces MVDA? - CORRECT ANSWER -OMVIC
How many people compose OMVIC's board of directors? - CORRECT
ANSWER -12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? - CORRECT 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.
T or F: the fee can be passed on to the consumer - CORRECT ANSWER -
True
,What is OMVIC required to make available to the public? - CORRECT
ANSWER -A dealers name, address and phone number; a salespersons name;
any proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson
Should OMVIC determine a dealers advertising to be false or misleading what
powers do they have to stop or correct it? - CORRECT ANSWER -Order to
the dealer to cease publication and or issue a retraction or correction
List 3 examples of individuals or businesses that are exempt from registration -
CORRECT ANSWER -Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - CORRECT
ANSWER -Where the public can see it
, T or F: Dealers may sell vehicles from any location so long as they have
registered a head office with OMVIC - CORRECT ANSWER -False
T or F: the MVDA specifies the records a dealer must maintain- these records
must be held for at least 6 years. - CORRECT ANSWER -True
Which records of employees must be maintained? - CORRECT ANSWER -
Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? -
CORRECT ANSWER -OMVIC, in writing, within 5 days
In order for a remote storage location to be approved by OMVIC, which
condition must be met? - CORRECT ANSWER -The location is always
accessible to OMVIC staff during normal business hours
CORRECT DETAILED ANSWERS WITH RATIONALES
2026 GRADED A+ PASS GUARANTEE
PROFESSIONAL REVIEW
100 exam questions and answers
What is the primary legislation governing Ontario's retail automotive sector? -
CORRECT ANSWER -MVDA
Which body or agency enforces MVDA? - CORRECT ANSWER -OMVIC
How many people compose OMVIC's board of directors? - CORRECT
ANSWER -12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? - CORRECT 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.
T or F: the fee can be passed on to the consumer - CORRECT ANSWER -
True
,What is OMVIC required to make available to the public? - CORRECT
ANSWER -A dealers name, address and phone number; a salespersons name;
any proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson
Should OMVIC determine a dealers advertising to be false or misleading what
powers do they have to stop or correct it? - CORRECT ANSWER -Order to
the dealer to cease publication and or issue a retraction or correction
List 3 examples of individuals or businesses that are exempt from registration -
CORRECT ANSWER -Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - CORRECT
ANSWER -Where the public can see it
, T or F: Dealers may sell vehicles from any location so long as they have
registered a head office with OMVIC - CORRECT ANSWER -False
T or F: the MVDA specifies the records a dealer must maintain- these records
must be held for at least 6 years. - CORRECT ANSWER -True
Which records of employees must be maintained? - CORRECT ANSWER -
Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? -
CORRECT ANSWER -OMVIC, in writing, within 5 days
In order for a remote storage location to be approved by OMVIC, which
condition must be met? - CORRECT ANSWER -The location is always
accessible to OMVIC staff during normal business hours
