Omvic Chapter 5 Exam Questions With Verified Answers

Omvic Chapter 5 Exam Questions With Verified Answers List three "previous uses of a vehicle" dealers must disclose. - answerTaxi, Limo, Police vehicle... List three types of incident damage that must be disclosed. - answerFire, Flood, Collision damage more than $3000 True or False: Dealer A buys from a daily rental company a car previously used in the rental fleet. Dealer A then sells the car (giving full disclosure of the car's history as a daily rental) to a consumer who buys it for personal use. A year later, the consumer trades that car in to Dealer B. Dealer B does a history search and sees the car was once a daily rental. Under Regulation 42 of the MVDA, when Dealer B sells this car to another customer they are not required to inform the customer of the car's previous use as a daily rental. - answerTrue True or False: If a vehicle was declared a total loss in a collision, but has since been repaired and received a structural safety certificate and a Safety Standards Certificate (SSC) from an authorized repair centre, the dealer does not need to notify a purchaser of the previous damage. - answerFalse