OMVIC EXAM QUESTIONS AND VERIFIED ANSWERS
2026(GRADED A+) DETAILED ANSWERS!!
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OMVIC OMVIC FINAL EXAM QUESTIONS A... OMVIC Automative Test (Chapter 1-1... BLW
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Terms in this set (111)
What is the primary legislation governing Ontario's MVDA
retail automotive sector?
Which body or agency enforces MVDA? OMVIC
How many people compose OMVIC's board of 12 in total, 9 dealers and 3 consumer reps
directors?
What is the "transaction fee program"? 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 True
What is OMVIC required to make available to the A dealers name, address and phone number; a salespersons name; any
public? proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson
Should OMVIC determine a dealers advertising to be Order to the dealer to cease publication and or issue a retraction or correction
false or misleading what powers do they have to stop
or correct it?
, If an order is used to stop or correct false advertising, up to 2 years
for how long may the dealer need to seek OMVIC pre
approval for future advertising?
What is the minimum age requirement to become a 18
dealer?
If a person has been refused registration, what are 2 2 years have passed; new evidence to demonstrate circumstances
conditions that have to be met before the person can
reapply?
If OMVIC issues a proposal to refuse registration, to LAT (license appeal tribunal ), Independent judicial body called LAT, within 15
whom can the applicant appeal? days of receiving the proposal
List the 4 classes of dealers General dealer, Broker, Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are Wholesale auction, wrecker, lawyer
exempt from registration
Where is the certificate of the dealer registration kept? Where the public can see it
T or F: Dealers may sell vehicles from any location so False
long as they have registered a head office with OMVIC
T or F: the MVDA specifies the records a dealer must True
maintain- these records must be held for at least 6
years.
Which records of employees must be maintained? Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer OMVIC, in writing, within 5 days
must notify?
In order for a remote storage location to be approved The location is always accessible to OMVIC staff during normal business hours
by OMVIC, which condition must be met?
T or F: Under the MVDA, all dealers are required to False
maintain a trust account
Deposits over what amount must be kept in a trust $10 000 (ten thousand)
account?
2026(GRADED A+) DETAILED ANSWERS!!
Leave the first rating
Save
Students also studied
Flashcard sets Study guides
OMVIC OMVIC FINAL EXAM QUESTIONS A... OMVIC Automative Test (Chapter 1-1... BLW
111 terms Teacher 111 terms 115 terms Te
mcrowther Preview silverlinkgituby Preview sabrina_ourchane Preview
Terms in this set (111)
What is the primary legislation governing Ontario's MVDA
retail automotive sector?
Which body or agency enforces MVDA? OMVIC
How many people compose OMVIC's board of 12 in total, 9 dealers and 3 consumer reps
directors?
What is the "transaction fee program"? 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 True
What is OMVIC required to make available to the A dealers name, address and phone number; a salespersons name; any
public? proposal to refuse to renew, suspend or revoke the registration of a dealer or
salesperson
Should OMVIC determine a dealers advertising to be Order to the dealer to cease publication and or issue a retraction or correction
false or misleading what powers do they have to stop
or correct it?
, If an order is used to stop or correct false advertising, up to 2 years
for how long may the dealer need to seek OMVIC pre
approval for future advertising?
What is the minimum age requirement to become a 18
dealer?
If a person has been refused registration, what are 2 2 years have passed; new evidence to demonstrate circumstances
conditions that have to be met before the person can
reapply?
If OMVIC issues a proposal to refuse registration, to LAT (license appeal tribunal ), Independent judicial body called LAT, within 15
whom can the applicant appeal? days of receiving the proposal
List the 4 classes of dealers General dealer, Broker, Exporter, Wholesaler, Lease finance dealer
List 3 examples of individuals or businesses that are Wholesale auction, wrecker, lawyer
exempt from registration
Where is the certificate of the dealer registration kept? Where the public can see it
T or F: Dealers may sell vehicles from any location so False
long as they have registered a head office with OMVIC
T or F: the MVDA specifies the records a dealer must True
maintain- these records must be held for at least 6
years.
Which records of employees must be maintained? Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer OMVIC, in writing, within 5 days
must notify?
In order for a remote storage location to be approved The location is always accessible to OMVIC staff during normal business hours
by OMVIC, which condition must be met?
T or F: Under the MVDA, all dealers are required to False
maintain a trust account
Deposits over what amount must be kept in a trust $10 000 (ten thousand)
account?
