1
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OMVIC Questions and Answers (100%
Correct Answers) Already Graded A+
What is the primary legislation governing Ontario's retail
automotive sector? [ ANS: ] MVDA
Which body or agency enforces MVDA? [ ANS: ] OMVIC
How many people compose OMVIC's board of directors? [ ANS: ]
12 in total, 9 dealers and 3 consumer reps
© 2025 Assignment Expert
What is the "transaction fee program"? [ ANS: ] 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.
Guru01 - Stuvia
T or F: the fee can be passed on to the consumer [ ANS: ] True
What is OMVIC required to make available to the public? [ ANS: ]
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? [ ANS:
] 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? [ ANS: ] up to 2 years
What is the minimum age requirement to become a dealer? [
ANS: ] 18
, 2
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If a person has been refused registration, what are 2 conditions
that have to be met before the person can reapply? [ ANS: ] 2
years have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the
applicant appeal? [ ANS: ] LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of receiving
the proposal
List the 4 classes of dealers [ ANS: ] General dealer, Broker,
Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are exempt from
© 2025 Assignment Expert
registration [ ANS: ] Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? [ ANS: ]
Where the public can see it
Guru01 - Stuvia
T or F: Dealers may sell vehicles from any location so long as they
have registered a head office with OMVIC [ ANS: ] False
T or F: the MVDA specifies the records a dealer must maintain-
these records must be held for at least 6 years. [ ANS: ] True
Which records of employees must be maintained? [ ANS: ]
Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must
notify? [ ANS: ] OMVIC, in writing, within 5 days
In order for a remote storage location to be approved by OMVIC,
which condition must be met? [ ANS: ] 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 [ ANS: ] False
Deposits over what amount must be kept in a trust account? [
ANS: ] $10 000 (ten thousand)
For Expert help and assignment solutions, +254707240657
OMVIC Questions and Answers (100%
Correct Answers) Already Graded A+
What is the primary legislation governing Ontario's retail
automotive sector? [ ANS: ] MVDA
Which body or agency enforces MVDA? [ ANS: ] OMVIC
How many people compose OMVIC's board of directors? [ ANS: ]
12 in total, 9 dealers and 3 consumer reps
© 2025 Assignment Expert
What is the "transaction fee program"? [ ANS: ] 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.
Guru01 - Stuvia
T or F: the fee can be passed on to the consumer [ ANS: ] True
What is OMVIC required to make available to the public? [ ANS: ]
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? [ ANS:
] 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? [ ANS: ] up to 2 years
What is the minimum age requirement to become a dealer? [
ANS: ] 18
, 2
For Expert help and assignment solutions, +254707240657
If a person has been refused registration, what are 2 conditions
that have to be met before the person can reapply? [ ANS: ] 2
years have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the
applicant appeal? [ ANS: ] LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of receiving
the proposal
List the 4 classes of dealers [ ANS: ] General dealer, Broker,
Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are exempt from
© 2025 Assignment Expert
registration [ ANS: ] Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? [ ANS: ]
Where the public can see it
Guru01 - Stuvia
T or F: Dealers may sell vehicles from any location so long as they
have registered a head office with OMVIC [ ANS: ] False
T or F: the MVDA specifies the records a dealer must maintain-
these records must be held for at least 6 years. [ ANS: ] True
Which records of employees must be maintained? [ ANS: ]
Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must
notify? [ ANS: ] OMVIC, in writing, within 5 days
In order for a remote storage location to be approved by OMVIC,
which condition must be met? [ ANS: ] 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 [ ANS: ] False
Deposits over what amount must be kept in a trust account? [
ANS: ] $10 000 (ten thousand)
