OMVIC Chapter 1-18/Latest
Update 2024/59 Questions and
Correct Answers/Verified
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
NOT
1) Service Managers
-List two reasons why OMVIC might refuse the registration of a dealer
or salesperson? - -1) Past conduct
2) False statement on application
3) Failed to comply with terms
4) Cannot be expected to be financially responsible
5) The Compensation Fund has paid out a claim and has not been
reimbursed
Update 2024/59 Questions and
Correct Answers/Verified
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
NOT
1) Service Managers
-List two reasons why OMVIC might refuse the registration of a dealer
or salesperson? - -1) Past conduct
2) False statement on application
3) Failed to comply with terms
4) Cannot be expected to be financially responsible
5) The Compensation Fund has paid out a claim and has not been
reimbursed
