OMVIC Certification Exam Questions with Verified Answers (Expert-Graded A+) | Latest Version

OMVIC Certification Exam Questions with Verified Answers (Expert-Graded A+) | Latest Version 1. What is the main law that regulates Ontario's retail automotive industry? - ANSWER The MVDA 2. What is OMVIC required to make available to the public? - ANSWER A dealer’s name, address and phone number; a salespersons name; any proposal to refuse to renew, suspend or revoke the registration of a dealer or salesperson 3. Should OMVIC determine a dealers advertising to be false or misleading what powers do they have to stop or correct it? - ANSWER Order to the dealer to cease publication and or issue a retraction or correction 4. If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC pre approval for future advertising? - ANSWER up to 2 years 5. What is the minimum age requirement to become a dealer? - ANSWER 18 6. If a person has been refused registration, what are 2 conditions that have to be met before the person can reapply? - ANSWER 2 years have passed; new evidence to demonstrate circumstances 7. If OMVIC issues a proposal to refuse registration, to whom can the applicant appeal? - ANSWER LAT (license appeal tribunal ), Independent judicial body called LAT, within 15 days of receiving the proposal 8. List the 4 classes of dealers - ANSWER General dealer, Broker, Exporter, Wholesaler, Lease finance dealer 9. List 3 examples of individuals or businesses that are exempt from registration - ANSWER Wholesale auction, wrecker, lawyer 10.Where is the certificate of the dealer registration kept? - ANSWER Where the public can see it 11.T or F: Dealers may sell vehicles from any location so long as they have registered a head office with OMVIC - ANSWER False 12.Motor vehicle repairs are governed by which Ontario legislation? - ANSWER Consumer Protection Act 13.T or F: dealers/repairers must provide estimates for repairs - ANSWER True 14.T or F: Final repair costs may not exceed the estimate by more than 10% - ANSWER True 15.If a repair involves the installation of new or reconditioned parts: - ANSWER the minimum warranty on repairs is 90 days or 5000 km (whichever comes first) 16.In order for a remote storage location to be approved by OMVIC, which condition must be met? - ANSWER The location is always accessible to OMVIC staff during normal business hours 17.T or F: Under the MVDA, all dealers are required to maintain a trust account - ANSWER False 18.Deposits over what amount must be kept in a trust account? - ANSWER $10 000 (ten thousand) 19.T or F: Before issuing a freeze order (freezing the dealer's assets or trust funds), OMVIC must first notify the dealer - ANSWER False 20.On a purchase contact, what must be printed in 14 pt. bold font next to the buyer's signature? - ANSWER This "sales final" statement on the same page as the buyer's signature and adjacent to the signature 21.If a dealer does not have a specific new vehicle in stock, but will locate the vehicle and bring it in, what must be disclosed to the purchaser regarding the mileage? - ANSWER A maximum distance that will be shown on the odometer at the same time of delivery or a statement that there is no maximum 22.If a statement Standards Certificate is issues for a vehicle, it means? - ANSWER The vehicle met certain basic standards of safety on the date of inspection 23.An "as is" sale? - ANSWER Must include a specific definition of "as is" in the contract 24.T or F: a dealer selling a vehicle "as is" may also provide a Safety Standards Certificate for the vehicle - ANSWER False 25.Contracts must have advisory or educational statements designed to inform purchasers/lessees about their rights and responsibilities and to ensure they know about the existence of certain agencies or organizations. Name them. - ANSWER OMVIC, Motor Vehicle Dealer Compensation Fund, CAMVAP 26.If a customer gives a deposit but don't sign a contract, what rights do they have? - ANSWER If there is no signed contract and a deposit or trade in is given to the dealer, the purchaser can cancel the contract at any time and demand his or her deposit or trade in back. 27.List the "previous uses of a vehicle" a dealer must disclose - ANSWER taxi, limo, police vehicle, emergency services, daily rental (unless subsequently owned by someone other than a dealer) 28.List the types of incident damage that must be disclosed - ANSWER collision (greater than $3000 in damage), fire, floor, and structural damage or alterations 29.In regards to replacement, what must be disclosed? - ANSWER The replacement of 2 or more adjacent body panels (excluding bumper covers) 30.When a dealer replaces a part: - ANSWER the dealer must offer the old part to the consumer 31.Dealers must post a sign stating: - ANSWER labour charges and how they are computed; the dealer's obligation to provide estimates; that each part is removed and available to the consumer