OMVIC CORE EXAM SET 2026/2027 QUESTIONS AND
SOLUTIONS RATED A+
✔✔Name one "change of information" that a dealer must notify OMVIC about. - ✔✔Any
of the following:
- Change of dealer address
- Change of officers or directors
- The date of commencement of employment of every salesperson
- The termination of employment of a salespeson (along with date + reason)
✔✔Please choose the most correct answer:
Q: In a large dealership, if the dealer principal delegates responsibility for ensuring that
salespersons are registered, this should be delegatd to:
a) The Bookeeper
b) The Salesperson
c) The Sales Manager
d) The Payroll Supervisor - ✔✔C) The Sales Manager
✔✔OMVIC can refuse, revoke or suspend registration to a dealer, salesperson or
corporation if the financial responsibility or past conduct of an "interested person in
respect of the applicant/registrant" gives reasonable grouns for it.
Q. Who might OMVIC consider an "interested person?" - ✔✔An interested person:
- Has or may have a beneficial interest in the business
- Exercises or may exercise control either directly or indirectly over the
dealer/salesperson
- Has provided or may have provided financing either directly or indirectly to the
business
✔✔Where is the certificate of the dealer registration kept? - ✔✔Posted, so the public is
likely to see it
✔✔T/F: A salesperson must produce his or her registration certificate for inspection if a
customer asks to see it - ✔✔TRUE
✔✔In your own words, describe:
a) Both classes of General Dealers
b) Three other classes - ✔✔A) General Delaers: (2 types)
- General Dealer: 'new and used subclass' - a business that trades in both new and
used vehicles.
- General Dealer - 'used subclass' - a business that trades in only used vehicles.
3 MORE TYPES:
- Broker: a business that facilitates the trade of a vehicle on behalf of a non-dealer
- Wholesaler: buys, seller or trades vehicles exclusively with other registered dealers.
- Exporter: Acts only to buy vehicles for export outside Ontario
SOLUTIONS RATED A+
✔✔Name one "change of information" that a dealer must notify OMVIC about. - ✔✔Any
of the following:
- Change of dealer address
- Change of officers or directors
- The date of commencement of employment of every salesperson
- The termination of employment of a salespeson (along with date + reason)
✔✔Please choose the most correct answer:
Q: In a large dealership, if the dealer principal delegates responsibility for ensuring that
salespersons are registered, this should be delegatd to:
a) The Bookeeper
b) The Salesperson
c) The Sales Manager
d) The Payroll Supervisor - ✔✔C) The Sales Manager
✔✔OMVIC can refuse, revoke or suspend registration to a dealer, salesperson or
corporation if the financial responsibility or past conduct of an "interested person in
respect of the applicant/registrant" gives reasonable grouns for it.
Q. Who might OMVIC consider an "interested person?" - ✔✔An interested person:
- Has or may have a beneficial interest in the business
- Exercises or may exercise control either directly or indirectly over the
dealer/salesperson
- Has provided or may have provided financing either directly or indirectly to the
business
✔✔Where is the certificate of the dealer registration kept? - ✔✔Posted, so the public is
likely to see it
✔✔T/F: A salesperson must produce his or her registration certificate for inspection if a
customer asks to see it - ✔✔TRUE
✔✔In your own words, describe:
a) Both classes of General Dealers
b) Three other classes - ✔✔A) General Delaers: (2 types)
- General Dealer: 'new and used subclass' - a business that trades in both new and
used vehicles.
- General Dealer - 'used subclass' - a business that trades in only used vehicles.
3 MORE TYPES:
- Broker: a business that facilitates the trade of a vehicle on behalf of a non-dealer
- Wholesaler: buys, seller or trades vehicles exclusively with other registered dealers.
- Exporter: Acts only to buy vehicles for export outside Ontario
