1|Page
OMVIC FINAL EXAM || MOST RECENT EXAM ACTUAL
COMPLETE REAL VERIFIED EXAM QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+ | GUARANTEED SUCCESS!!
NEWEST EXAM!!!
What is the primary legislation governing Ontario's retail
automotive sector? - Answer-MVDA
Which body or agency enforces MVDA? - Answer-OMVIC
How many people compose OMVIC's board of directors? -
Answer-12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? - 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 -
Answer-True
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What is OMVIC required to make available to the public? -
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? - Answer-Order to the dealer to cease publication and
or issue a retraction or correction
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
What is the minimum age requirement to become a
dealer? - Answer-18
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
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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
List the 4 classes of dealers - Answer-General dealer,
Broker, Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are
exempt from registration - Answer-Wholesale auction,
wrecker, lawyer
Where is the certificate of the dealer registration kept? -
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 -
Answer-False
T or F: the MVDA specifies the records a dealer must
maintain- these records must be held for at least 6 years. -
Answer-True
OMVIC FINAL EXAM || MOST RECENT EXAM ACTUAL
COMPLETE REAL VERIFIED EXAM QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+ | GUARANTEED SUCCESS!!
NEWEST EXAM!!!
What is the primary legislation governing Ontario's retail
automotive sector? - Answer-MVDA
Which body or agency enforces MVDA? - Answer-OMVIC
How many people compose OMVIC's board of directors? -
Answer-12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? - 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 -
Answer-True
,2|Page
What is OMVIC required to make available to the public? -
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? - Answer-Order to the dealer to cease publication and
or issue a retraction or correction
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
What is the minimum age requirement to become a
dealer? - Answer-18
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
, 3|Page
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
List the 4 classes of dealers - Answer-General dealer,
Broker, Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are
exempt from registration - Answer-Wholesale auction,
wrecker, lawyer
Where is the certificate of the dealer registration kept? -
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 -
Answer-False
T or F: the MVDA specifies the records a dealer must
maintain- these records must be held for at least 6 years. -
Answer-True
