OMVIC QUESTIONS AND VERIFIED
ANSWERS 100% GUARANTEE PASS
What is the primary legislation governing Ontario's retail automotive sector? - Correct answer.MVDA
Which body or agency enforces MVDA? - Correct answer.OMVIC
How many people compose OMVIC's board of directors? - Correct answer.12 in total, 9 dealers and 3
consumer reps
What is the "transaction fee program"? - Correct 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 - Correct answer.True
What is OMVIC required to make available to the public? - Correct 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? - Correct 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? - Correct answer.up to 2 years
What is the minimum age requirement to become a dealer? - Correct answer.18
, If a person has been refused registration, what are 2 conditions that have to be met before the person
can reapply? - Correct answer.2 years have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the applicant appeal? - Correct
answer.LAT (license appeal tribunal ), Independent judicial body called LAT, within 15 days of receiving
the proposal
List the 4 classes of dealers - Correct answer.General dealer, Broker, Exporter, Wholesaler, Lease finance
dealer
List 3 examples of individuals or businesses that are exempt from registration - Correct
answer.Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - Correct 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 - Correct answer.False
T or F: the MVDA specifies the records a dealer must maintain- these records must be held for at least 6
years. - Correct answer.True
Which records of employees must be maintained? - Correct answer.Employee names, proof of
payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? - Correct answer.OMVIC, in writing,
within 5 days
In order for a remote storage location to be approved by OMVIC, which condition must be met? -
Correct answer.The location is always accessible to OMVIC staff during normal business hours
T or F: Under the MVDA, all dealers are required to maintain a trust account - Correct answer.False
ANSWERS 100% GUARANTEE PASS
What is the primary legislation governing Ontario's retail automotive sector? - Correct answer.MVDA
Which body or agency enforces MVDA? - Correct answer.OMVIC
How many people compose OMVIC's board of directors? - Correct answer.12 in total, 9 dealers and 3
consumer reps
What is the "transaction fee program"? - Correct 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 - Correct answer.True
What is OMVIC required to make available to the public? - Correct 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? - Correct 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? - Correct answer.up to 2 years
What is the minimum age requirement to become a dealer? - Correct answer.18
, If a person has been refused registration, what are 2 conditions that have to be met before the person
can reapply? - Correct answer.2 years have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the applicant appeal? - Correct
answer.LAT (license appeal tribunal ), Independent judicial body called LAT, within 15 days of receiving
the proposal
List the 4 classes of dealers - Correct answer.General dealer, Broker, Exporter, Wholesaler, Lease finance
dealer
List 3 examples of individuals or businesses that are exempt from registration - Correct
answer.Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - Correct 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 - Correct answer.False
T or F: the MVDA specifies the records a dealer must maintain- these records must be held for at least 6
years. - Correct answer.True
Which records of employees must be maintained? - Correct answer.Employee names, proof of
payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? - Correct answer.OMVIC, in writing,
within 5 days
In order for a remote storage location to be approved by OMVIC, which condition must be met? -
Correct answer.The location is always accessible to OMVIC staff during normal business hours
T or F: Under the MVDA, all dealers are required to maintain a trust account - Correct answer.False
