OMVIC CHAPTER1-18 NEW EXAM WITH QUESTIONS AND
CORRECT ANSWERS (A+) 100% VERIFIED
List three examples of individuals or businesses that are exempt from registration. -
ANSWER 1) Wholesale auction
2) Wrecker
3) Person selling a vehicle used for family or for a sole proprietorship business
Name one "change of information" that a dealer must report to OMVIC. - ANSWER 1)
Change of dealers address
2) Changes of officers or directors (if dealer is a corporation or partnership0
3) The date of commencement of employment of every salesperson
4) The termination of employment of a salesperson and the date and reason for
termination
In a large dealership, if the dealers principle delegates responsibility for ensuring that
salespersons are registered, this should be delegated to who? - ANSWER The Sales
Manager
OMVIC can refuse, revoke or suspend registration to a dealer, salesperson or
corporation if the financial responsibility or past conduct of an "interested person in
respect of the applicant / registrant" gives reasonable grounds for it.
Who may OMVIC consider to be an "interested person"? ANSWER 1) Has or may have a
, beneficial interest in the business
2) Exercises or may exercise control either directly or indirectly over the dealer /
salesperson
3) Has provided or may have provided financing either directly or indirectly to the
business
Where is the certificate of the dealer registration kept? - ANSWER Posted so the public
is likely to see it
True of False: A salesperson must produce his or her registration certificate for
inspection if a customer asks to see it? - ANSWER True
True or False: Dealers may sell vehicles from any location, so long as they have
registered a head office with OMVIC - ANSWER False
List the three requirements for a dealers premises - ANSWER 1) Have a business office
large enough to store records securely
2) Have a clearly visible sign identifying registered name
3) Be approved for use as a dealership by municipality
How long does the MVDA specify how long a dealer must maintain their records? -
ANSWER They must keep the records for at least 6 years
Identify, and list below four examples of the information (pertaining to vehicles sold or
leased) which is to be maintained in the dealer's record-keeping system. ANSWER 1)
Employee records to include employee names, positions held, dates of employment,
how much each employee is paid and proof of payment
CORRECT ANSWERS (A+) 100% VERIFIED
List three examples of individuals or businesses that are exempt from registration. -
ANSWER 1) Wholesale auction
2) Wrecker
3) Person selling a vehicle used for family or for a sole proprietorship business
Name one "change of information" that a dealer must report to OMVIC. - ANSWER 1)
Change of dealers address
2) Changes of officers or directors (if dealer is a corporation or partnership0
3) The date of commencement of employment of every salesperson
4) The termination of employment of a salesperson and the date and reason for
termination
In a large dealership, if the dealers principle delegates responsibility for ensuring that
salespersons are registered, this should be delegated to who? - ANSWER The Sales
Manager
OMVIC can refuse, revoke or suspend registration to a dealer, salesperson or
corporation if the financial responsibility or past conduct of an "interested person in
respect of the applicant / registrant" gives reasonable grounds for it.
Who may OMVIC consider to be an "interested person"? ANSWER 1) Has or may have a
, beneficial interest in the business
2) Exercises or may exercise control either directly or indirectly over the dealer /
salesperson
3) Has provided or may have provided financing either directly or indirectly to the
business
Where is the certificate of the dealer registration kept? - ANSWER Posted so the public
is likely to see it
True of False: A salesperson must produce his or her registration certificate for
inspection if a customer asks to see it? - ANSWER True
True or False: Dealers may sell vehicles from any location, so long as they have
registered a head office with OMVIC - ANSWER False
List the three requirements for a dealers premises - ANSWER 1) Have a business office
large enough to store records securely
2) Have a clearly visible sign identifying registered name
3) Be approved for use as a dealership by municipality
How long does the MVDA specify how long a dealer must maintain their records? -
ANSWER They must keep the records for at least 6 years
Identify, and list below four examples of the information (pertaining to vehicles sold or
leased) which is to be maintained in the dealer's record-keeping system. ANSWER 1)
Employee records to include employee names, positions held, dates of employment,
how much each employee is paid and proof of payment
