OMVIC Chapter 1-18 EXAM QUESTIONS WITH COMPLETE SOLUTIONS 2023.

OMVIC Chapter 1-18 EXAM QUESTIONS WITH COMPLETE SOLUTIONS 2023. OMVIC Chapter 1-18 1. What is the primary legislation governing Ontario's retail automotive sector?: Moter Vehicle Dealers Act, 2002 2. Which body or agency enforces MVDA?: OMVIC 3. List Three Functions carried out by OMVIC: 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 4. How many people compose OMVICS board of directors? How many dealers ? How many consumers?: 12 total 9 dealer 3 consumer 5. Briefly explain the "Transactional Fee Program": 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. 6. True or False: The transaction fee can be passed along to the customer?- : True 7. True or False: Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased?: True 8. What information is OMVIC required to make available to the public?: 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 9. Should OMVIC determine a dealers advertising to be false or misleading, what powers does OMVIC have to stop or correct it?: OMVIC may issue an order requiring the dealer to cease publication and/or issue a retraction or correction 1 / 8 OMVIC Chapter 1-18 10. If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC's pre-approval for future advertising?: Up to 2 years 11. List two possible situations which could result in OMVIC applying to a court to appoint a receiver and manager to assume temporary control of a dealership.: This action might be taken if: 1) If there has been an investigation 2) If the dealership is about to fail 3) If OMVIC is proposing to revoke a registration 4) If a freeze order is about to be made 12. What is the minimum age requirement to become a dealer?: 18 years old 13. List the three requirements that must be met when applying to become a salesperson?: 1) Complete/Pass certification course 2) Pay Fee 3) Be employed or retained by a registered dealer to act as a salesperson 14. True or False: All dealer and salesperson applicants undergo a Canada-wide criminal record search as part of the application screening process.- : True 15. Which of the followin