OMVIC Chapter 1-18 Questions And Answers 2023 With Complete Solution.

OMVIC Chapter 1-18 Questions And Answers 2023 With Complete Solution. What is the primary legislation governing Ontario's retail automotive sector? - Correct AnswerMoter Vehicle Dealers Act, 2002 Which body or agency enforces MVDA? - Correct Answer-OMVIC List Three Functions carried out by OMVIC - Correct Answer-1) Administers and enforces the MVDA 2) Inspects dealers 3)Maintains a complaint line for consumers 4) Conducts investigations 5) Conducts disciplinary hearings 6) Conducts prosecutions 7) Administers the Compensation Fund How many people compose OMVICS board of directors? How many dealers ? How many consumers? - Correct Answer-12 total 9 dealer 3 consumer Briefly explain the "Transactional Fee Program" - Correct Answer-Under the transaction fee program , dealer are required to remit $10 for each vehicle sold or leased (included fleet and "as is" transactions ) to OMVIC. These funds are remitted annually with the dealers registration renewal fee. True or False: The transaction fee can be passed along to the customer? - Correct AnswerTrue True or False: Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased? - Correct Answer-True What information is OMVIC required to make available to the public? - Correct Answer-1) A dealer's business name, address and phone number 2) A salespersons name 3) 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 does OMVIC have to stop or correct it? - Correct Answer-OMVIC may issue an order requiring the dealer to cease publication and/or issue a retraction or correction .