OMVIC NEW EXAM QUESTIONS AND CORRECT
ANSWERS 100% VERIFIED
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.
What is the main statute that regulates the retail auto industry in Ontario? - ANSWER
MVDA
Name the organization / agency responsible for administering MVDA. - ANSWER OMVIC
How many members are on the board of directors at OMVIC? - ANSWER 12 total, 9
dealers and 3 consumer reps
T or F: the fee can be passed on to the consumer - ANSWER True
What does OMVIC need to make available to public? ANSWER A dealer's name, address
and telephone number; a sales person's 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 to become a dealer? - ANSWER 18
, If there has been a refusal of registration, name 2 conditions that have to be satisfied
before the person is free to reapply? - ANSWER 2 years must have elapsed; new
evidence to show circumstances
If OMVIC sends 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
Contracts have to have advisory or educational statements intended to advise the
purchasers/lessees of their rights and responsibilities and also to make them aware of
the existence of some agencies or organizations. Name them. - ANSWER OMVIC, Motor
Vehicle Dealer Compensation Fund, CAMVAP
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.
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)
List the types of incident damage that must be disclosed - ANSWER collision (greater
than $3000 in damage), fire, floor, and structural damage or alterations
Replacement - what must be disclosed? - ANSWER The replacement of 2 or more
adjacent body panels (excluding bumper covers)
Dealers must disclose known damage repairs in excess of? - ANSWER $3 000
T or F: A dealer does not have to inform a purchaser that a vehicle's manufacturer's
warranty has been cancelled, so long as the dealer offers or sells the purchaser an
ANSWERS 100% VERIFIED
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.
What is the main statute that regulates the retail auto industry in Ontario? - ANSWER
MVDA
Name the organization / agency responsible for administering MVDA. - ANSWER OMVIC
How many members are on the board of directors at OMVIC? - ANSWER 12 total, 9
dealers and 3 consumer reps
T or F: the fee can be passed on to the consumer - ANSWER True
What does OMVIC need to make available to public? ANSWER A dealer's name, address
and telephone number; a sales person's 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 to become a dealer? - ANSWER 18
, If there has been a refusal of registration, name 2 conditions that have to be satisfied
before the person is free to reapply? - ANSWER 2 years must have elapsed; new
evidence to show circumstances
If OMVIC sends 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
Contracts have to have advisory or educational statements intended to advise the
purchasers/lessees of their rights and responsibilities and also to make them aware of
the existence of some agencies or organizations. Name them. - ANSWER OMVIC, Motor
Vehicle Dealer Compensation Fund, CAMVAP
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.
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)
List the types of incident damage that must be disclosed - ANSWER collision (greater
than $3000 in damage), fire, floor, and structural damage or alterations
Replacement - what must be disclosed? - ANSWER The replacement of 2 or more
adjacent body panels (excluding bumper covers)
Dealers must disclose known damage repairs in excess of? - ANSWER $3 000
T or F: A dealer does not have to inform a purchaser that a vehicle's manufacturer's
warranty has been cancelled, so long as the dealer offers or sells the purchaser an
