2026 COMPLETE 2 VERSIONS WITH VERIFIED
ANSWERS AND STUDY GUIDE
◉ Transaction Fee Program. Answer: Program where dealers remit
$10 for each vehicle sold or leased to OMVIC annually with the
registration renewal fee.
◉ Cease Publication Order. Answer: An order issued by OMVIC
requiring a dealer to stop publication and potentially issue a
retraction or correction.
◉ Interested Person. Answer: Someone with a beneficial interest in
the business, control over the dealer/salesperson, or provided
financing to the business.
◉ Sales Final Statement. Answer: A mandatory statement indicating
the finality of a sale transaction.
◉ Rescission. Answer: Triggered if certain disclosures are not made,
such as previous vehicle use, mileage, or distance traveled.