Disclosure must be provided in a timely manner, in writing and be presented in a way
that is:
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Clear, comprehensible and prominent
What must an "as is" sale include in the contract?
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Must include a specific definition of "as is" in the contract
List three types of incident damage that must be disclosed
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Collision (greater then $3000 in damage)
Fire
Flood
Structural Damage or altercations
If a Safety Standards Certificate is issued for a vehicle, it means?
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The vehicle met certain basic standards of safety on the date of inspection
True or False: Under the Transaction Fee Program, dealers are required to remit $10
(to OMVIC) for each retail vehicle sold or leased?
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, True
Rescission is only granted automatically for failing to disclose what?
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1) The make, model, and year of the vehicle
2) The vehicle was previously a taxi or limo
3) The vehicle has been branded
If a dealer does not have a specific new vehicle in stock but will locate the vehicle
and bring it in, what must be disclosed to the purchaser regarding the milage?
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A maximum distance that will be shown on the odometer at the time of
delivery or a statement (initialled by the buyer) that there is no maximum
How many people compose OMVICS board of directors? How many dealers ? How
many consumers?
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that is:
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Clear, comprehensible and prominent
What must an "as is" sale include in the contract?
,Give this one a try later!
Must include a specific definition of "as is" in the contract
List three types of incident damage that must be disclosed
Give this one a try later!
Collision (greater then $3000 in damage)
Fire
Flood
Structural Damage or altercations
If a Safety Standards Certificate is issued for a vehicle, it means?
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The vehicle met certain basic standards of safety on the date of inspection
True or False: Under the Transaction Fee Program, dealers are required to remit $10
(to OMVIC) for each retail vehicle sold or leased?
Give this one a try later!
, True
Rescission is only granted automatically for failing to disclose what?
Give this one a try later!
1) The make, model, and year of the vehicle
2) The vehicle was previously a taxi or limo
3) The vehicle has been branded
If a dealer does not have a specific new vehicle in stock but will locate the vehicle
and bring it in, what must be disclosed to the purchaser regarding the milage?
Give this one a try later!
A maximum distance that will be shown on the odometer at the time of
delivery or a statement (initialled by the buyer) that there is no maximum
How many people compose OMVICS board of directors? How many dealers ? How
many consumers?
Give this one a try later!
