LATEST OMVIC FINAL EXAM 2024-2025 ACTUAL TEST
QUESTIONS AND WELL ELABORATED ANSWERS (100%
CORRECT VERIFIED ANSWERS) A NEW UPDATED
VERSION |GUARANTEED PASS. (FULL REVISED EXAM)
What is OMVIC required to make available to the public? -
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? -
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? - Answer-up to 2 years
What is the minimum age requirement to become a dealer? -
Answer-18
,If a person has been refused registration, what are 2 conditions
that have to be met before the person can reapply? - Answer-2
years have passed; new evidence to demonstrate
circumstances
If OMVIC issues a proposal to refuse registration, to whom can
the applicant appeal? - Answer-LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of
receiving the proposal
List the 4 classes of dealers - Answer-General dealer, Broker,
Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are exempt
from registration - Answer-Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? -
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 - Answer-False
, T or F: the MVDA specifies the records a dealer must maintain-
these records must be held for at least 6 years. - Answer-True
is the primary legislation governing Ontario's retail automotive
sector? - Answer-MVDA
Which body or agency enforces MVDA? - Answer-OMVIC
How many people compose OMVIC's board of directors? -
Answer-12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? - 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 - Answer-True
Which records of employees must be maintained? - Answer-
Employee names, proof of payments, and employee salaries
QUESTIONS AND WELL ELABORATED ANSWERS (100%
CORRECT VERIFIED ANSWERS) A NEW UPDATED
VERSION |GUARANTEED PASS. (FULL REVISED EXAM)
What is OMVIC required to make available to the public? -
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? -
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? - Answer-up to 2 years
What is the minimum age requirement to become a dealer? -
Answer-18
,If a person has been refused registration, what are 2 conditions
that have to be met before the person can reapply? - Answer-2
years have passed; new evidence to demonstrate
circumstances
If OMVIC issues a proposal to refuse registration, to whom can
the applicant appeal? - Answer-LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of
receiving the proposal
List the 4 classes of dealers - Answer-General dealer, Broker,
Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are exempt
from registration - Answer-Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? -
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 - Answer-False
, T or F: the MVDA specifies the records a dealer must maintain-
these records must be held for at least 6 years. - Answer-True
is the primary legislation governing Ontario's retail automotive
sector? - Answer-MVDA
Which body or agency enforces MVDA? - Answer-OMVIC
How many people compose OMVIC's board of directors? -
Answer-12 in total, 9 dealers and 3 consumer reps
What is the "transaction fee program"? - 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 - Answer-True
Which records of employees must be maintained? - Answer-
Employee names, proof of payments, and employee salaries
