OMVIC Chapter 1-18/ 59 Questions and
Answers 2024 with complete solution
What is the primary legislation governing Ontario's retail automotive sector? - -
Moter Vehicle Dealers Act, 2002
-Which body or agency enforces MVDA? - -OMVIC
-List Three Functions carried out by OMVIC - -1) Administers and enforces the
MVDA
2) Inspects dealers
3)Maintains a complaint line for consumers
4) Conducts investigations
5) Conducts disciplinary hearings
6) Conducts prosecutions
7) Administers the Compensation Fund
-How many people compose OMVICS board of directors? How many dealers ? How
many consumers? - -12 total
9 dealer
3 consumer
-Briefly explain the "Transactional Fee Program" - -Under the transaction fee
program , dealer are required to remit $10 for each vehicle sold or leased (included
fleet and "as is" transactions ) to OMVIC. These funds are remitted annually with the
dealers registration renewal fee.
-True or False: The transaction fee can be passed along to the customer? - -True
-True or False: Under the Transaction Fee Program, dealers are required to remit
$10 (to OMVIC) for each retail vehicle sold or leased? - -True
-What information is OMVIC required to make available to the public? - -1) A
dealer's business name, address and phone number
2) A salespersons name
, 3) 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 does OMVIC have to stop or correct it? - -OMVIC may issue an order
requiring 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's pre-approval for future advertising? - -Up to 2 years
-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:
1) If there has been an investigation
2) If the dealership is about to fail
3) If OMVIC is proposing to revoke a registration
4) If a freeze order is about to be made
-What is the minimum age requirement to become a dealer? - -18 years old
-List the three requirements that must be met when applying to become a
salesperson? - -1) Complete/Pass certification course
2) Pay Fee
3) Be employed or retained by a registered dealer to act as a salesperson
-True or False: All dealer and salesperson applicants undergo a Canada-wide
criminal record search as part of the application screening process. - -True
-Which of the following must be registered with OMVIC? - -1) Dealers
2) Salesperson
3) Business managers
4) Finance Managers
Answers 2024 with complete solution
What is the primary legislation governing Ontario's retail automotive sector? - -
Moter Vehicle Dealers Act, 2002
-Which body or agency enforces MVDA? - -OMVIC
-List Three Functions carried out by OMVIC - -1) Administers and enforces the
MVDA
2) Inspects dealers
3)Maintains a complaint line for consumers
4) Conducts investigations
5) Conducts disciplinary hearings
6) Conducts prosecutions
7) Administers the Compensation Fund
-How many people compose OMVICS board of directors? How many dealers ? How
many consumers? - -12 total
9 dealer
3 consumer
-Briefly explain the "Transactional Fee Program" - -Under the transaction fee
program , dealer are required to remit $10 for each vehicle sold or leased (included
fleet and "as is" transactions ) to OMVIC. These funds are remitted annually with the
dealers registration renewal fee.
-True or False: The transaction fee can be passed along to the customer? - -True
-True or False: Under the Transaction Fee Program, dealers are required to remit
$10 (to OMVIC) for each retail vehicle sold or leased? - -True
-What information is OMVIC required to make available to the public? - -1) A
dealer's business name, address and phone number
2) A salespersons name
, 3) 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 does OMVIC have to stop or correct it? - -OMVIC may issue an order
requiring 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's pre-approval for future advertising? - -Up to 2 years
-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:
1) If there has been an investigation
2) If the dealership is about to fail
3) If OMVIC is proposing to revoke a registration
4) If a freeze order is about to be made
-What is the minimum age requirement to become a dealer? - -18 years old
-List the three requirements that must be met when applying to become a
salesperson? - -1) Complete/Pass certification course
2) Pay Fee
3) Be employed or retained by a registered dealer to act as a salesperson
-True or False: All dealer and salesperson applicants undergo a Canada-wide
criminal record search as part of the application screening process. - -True
-Which of the following must be registered with OMVIC? - -1) Dealers
2) Salesperson
3) Business managers
4) Finance Managers
