OMVIC Test Bank Updated Practice Questions and Correct Answers-Study Guide for Ontario Motor Vehicle Industry Council Exam

OMVIC Test Bank Updated Practice
Questions and Correct Answers-Study Guide
for Ontario Motor Vehicle Industry Council
Exam
Question 1
If OMVIC believes a dealer's advertisement to be false or misleading, what can they
do to stop or fix it?
a. OMVIC can make the dealer pay a fine
b. OMVIC cannot do anything
c. OMVIC can issue an advertising order that may require the dealer to both stop the
advertisement immediately and retract the information or publish a correction
d. OMVIC can issue an order to the company to take down the ad, but it is up to the
company whether they wish to comply. No further action can be taken beyond this.
Correct Answer
OMVIC can issue an advertising order that may require the dealer to both stop the
advertisement immediately and retract the information or publish a correction



Question 2
List four pieces of information that must be included in an Initial disclosure statement
(find the chapter)

Correct Answer
Any four from 13.07



Question 3
True or false: The following disclosure isn't required in dealer-to-dealer transactions, it
applies to retail transactions only: any other facts that could be expected to influence
the decision of a reasonable buyer or lessee to purchase or lease the vehicle on the
terms disclosed in the contract.
Correct Answer
False




Page 1 of 115

,Question 4
Under the MVDA how long does a customer have to cancel a contract?
a. 30 days
b. 90 days
c 180 days
d. One year
Correct Answer
b. 90 days



Question 5
When are Used Vehicle Information Packages (UVIPs) required?
a. Private sales
b. Dealer sales
c. Consignment sales
d. All sales
Correct Answer
a. Private sales



Question 6
Where must the dealer keep their certificate of registration?
a. Safely secured in a location separate from the office
b. On their person
c. Where the public can see it in each of their registered business locations
Correct Answer
Where the public can see it in each of their registered business locations



Question 7
How much does each dealer pay into the Motor Vehicle Dealers Compensation Fund?
a. $146
b. $324
c. $450
d. $243
Correct Answer
324




Page 2 of 115

,Question 8
True or false: Service plans must be insured.
Correct Answer
False



Question 9
True or false: Dealers can sell vehicles from any location as long as they've registered
a head office with OMVIC
Correct Answer
False



Question 10
If OMVIC believes an ad is false, misleading or deceptive, it can:
a. Take the dealer to the LAT
b. Sue the dealer for misrepresentation
c. Order the dealer to take back or correct the ad
Correct Answer
c. Order the dealer to take back or correct the ad



Question 11
What penalties (other than a fine) can the Discipline Committee order?
Correct Answer
The discipline committee can order:
- dealer or salesperson must take more educational courses
- pay for educational courses for their sales staff
- pay for the cost of the hearing




Page 3 of 115

, Question 12
A dealer has to disclose which of the following:
a. Replacement of a single body panel (not including bumper panels)
b. Replacement of two or more adjacent body panels (not including bumper panels)
c. Repainting of two or more adjacent body panels (not including bumper panels)
Correct Answer
b. Replacement of two or more adjacent body panels (not including bumper panels)



Question 13
True or false: A customer who is also a registered dealer can also cancel
Correct Answer
False



Question 14
True or false: In a consignment sale, the dealer can negotiate how much they'l charge
the consignor after they sell the vehicle. The fee doesn't have to be in the
consignment contract.
Correct Answer
False



Question 15
How many requirements are there to be a salesperson:
a. 1
b. 10
c. 3
d. 4

Follow-up: What are the three requirements?
Correct Answer
Three requirements are:
- pay the required fee
- have completed the automative certification course
- be employed as a salesperson




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