OMVIC Exam Questions With Verified Answers

OMVIC Exam Questions With Verified Answers What is the primary legislation governing Ontario's retail Automotive sector? - answerThe Motor Vehicles Act Which body or agency enforces MVDA? - answerOMVIC List three functions carried out by OMVIC - answer• Administers and enforces the MVDA • Inspects dealers • Maintains a complaint line for consumers • Conducts investigations • Conducts disciplinary hearings • Conducts prosecutions • Administers the Compensation Fund How many people compose omvic's board of directors? Of these how many represent the industry and how many represent consumers? - answer12 Total, 9 for dealers and 3 consumer reps Briefly Explain the "Transaction fee program" - answerUnder the transaction fee program, dealers are requried to remit $10 for each vehicle sold or leased (including fleet and "as is" transactions) to OMVIC. These funds are remitted a