OMVIC ALL| OMVIC QESTION BANK| ACTUAL EXAM QUESTIONS AND ANSWERS 100% CORRECT| NEW 2026!

OMVIC ALL| ACTUAL EXAM QUESTIONS AND ANSWERS 100% CORRECT| NEW 2026! Ch.1 - What is the primary legislation governing Ontario's retail automotive sector? The Motor Vehicle Dealers Act, 2002 see 1.04 Ch.1 - Which body or agency enforces the MVDA? a. Ministry of Government and Consumer Services b. TADA c. OMVIC d. Automotive Business School of Canada c. OMVIC see 1.04 Ch.1 - List three functions carried out by OMVIC. Any three of the following: - Administers and enforces the MVDA - Inspects dealers - Maintains a complaint line for consumers - Conducts investigations - Conducts disciplinary hearings -Conducts prosecutions - Administers the Compensation Fund see 1.07 Ch.1 - How many people compose OMVIC's Board of Directors? Of these, how many represent the industry and how many represent the consumers? Twelve total, nine dealers and three consumer reps see 1.07 Ch.1 - Briefly explain the "Transaction Fee Program." Under the transaction fee program, dealers are required to remit $10 for each vehicle sold or leased (including fleet and "as is" transactions) to OMVIC. These funds are remitted annually with the dealer's registration renewal fee. see 1.08 Ch.1 - True of False: Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased. True see 1.08 Ch.1 - True or False: The transaction fee can be passed along to the customer. True see 1.08 Ch.1 - What information is OMVIC required to make available to the public? a. A dealer's business name, address and phone number b. A Salesperson's name c. Any proposal to refuse to renew, suspend or revoke the registration of a dealer or a salesperson d. All of the above d. All of the above see 1.12 Ch.1 - Should OMVIC determine a dealer's advertising to be false or misleading, what powers does OMVIC have to stop or correct it? OMVIC may issue an order requiring the dealer to cease publication and/or issue a retractions or correction. see 1.12 Ch.1 - 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? Up to two years see 1.09 Ch.1 - 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. This action might be taken: - If there has been an investigation - If the dealership is about to fail - If OMVIC is proposing to revoke a registration - If a freeze order is about to be made see 1.10 Ch.2 - What is the minimum age requirement to become a dealer? 18 see 2.05 Ch.2 - List three requirements that must be met when applying to become a salesperson. Three requirements are: