OMVIC Test Bank 2025/2026 – Updated Practice
Questions, Answers, and Study Guide for Ontario Motor
Vehicle Industry Council Exam
The license of a new or used dealer/wholesale/auctioneer/ may be
denied/suspended/revoked/fined for all the following except: - answer-;attempting to
negotiate the sale or lease of a Motor vehicle with intent to make profit or gain
Federal odometer law declares it unlawful to do the following: - answer-;operate Motor vehicle
on any street with intent to defraud knowing the odometer is disconnected
A dealer has how many days to facilitate delivery from the date of sale? - answer-;30 Days
Which of the following is NOT proof of ownership for a Motor Vehicle for a CO dealer? -
answer-;a vehicle subject to a lien on the title
a dealers ad must contain the dealers licensed name and the words - answer-;Dealer
federal cash reporting requires dealers to file form 8300 with IRS within how many days of
receiving $10,000 cash? - answer-;15 days
Wholesalers may? - answer-;Sell to dealers and other wholesalers
or
Make a profit or gain selling to dealers and wholesalers
,The license of a Motor vehicle salesman may be revoked/suspended on the following grounds: -
answer-;Violating any of the terms and provisions
The license of a Motor vehicle salesman may be revoked/suspended on all grounds EXCEPT: -
answer-;advertising a salvaged vehicle while identifying that vehicle as salvaged
The advertised price of a Motor vehicle must include: - answer-;dealer handling and
preparation charges
Which must remain in the window of a new motor vehicle until its sold to the ultimate
purchaser? - answer-;Moroney label
A Motor vehicle dealer, wholesaler, or salesperson must give Dealer Board written notice of -
answer-;If hours of business are going to change
Motor vehicles with demo plates may be loaned to charity organizations and celebrities -
answer-;False
Which is a false statement regarding dealers and buyers - answer-;A dealer must offer a
warranty on all motor vehicles sold
in addition to possible dealer bond sanctions, if a dealer/salesperson uses bait & switch it is a
class 2 misdemeanor with 12 months maximum jailtime and $1,000 fine or both - answer-;TRUE
What is the highest fine per offense the dealer board may impose on dealers who sell vehicles
less than 1500 lbs? - answer-;$500
The license of a Motor vehicle salesperson or PWSPT may be denied/revoked/suspended on
any of the following grounds except - answer-;improperly
withholding/misappropriating/converting to ones own use any money belonging to customers
or any persons received in employment as a salesperson
, according to Colorado law which does NOT need to be licensed as a motor vehicle dealer? -
answer-;All of the above
The Motor Vehicle Dealer Board does NOT have among its members: - answer-;Three
employees from the dept. of revenue
A buyer agent - answer-;is retained or hired by a consumer to assist/represent/act on behalf of
such consumer in connection with the purchase of lease of a Motor vehicle
Local law enforcement agencies must be notified within 4 hours after the repossession of a
Motor Vehicle - answer-;False
1 hour
The license of a new or used dealer/Wholesaler may be denied/suspended /revoked /fined for
the following - answer-;Making a material misstatement in an application of license
A customer's trade-in vehicle on a financed deal may be sold - answer-;Only when the financing
has been approved and the contract binding has been signed
Which is NOT required when advertising a closed end credit sale? - answer-;Tax Rate
Which is not a deceptive trade practice? - answer-;Disclosing to the purchaser in writing prior
to the sale that a vehicle is a salvage
The Motor Vehicle dealer board may decide how large a fine to impose on a dealer who sells
vehicles <1500lbs, as long as it does not exceed $5,000 - answer-;False
$10,000
The Motor Vehicle Dealer board is authorized and empowered to - answer-;All of the above
Questions, Answers, and Study Guide for Ontario Motor
Vehicle Industry Council Exam
The license of a new or used dealer/wholesale/auctioneer/ may be
denied/suspended/revoked/fined for all the following except: - answer-;attempting to
negotiate the sale or lease of a Motor vehicle with intent to make profit or gain
Federal odometer law declares it unlawful to do the following: - answer-;operate Motor vehicle
on any street with intent to defraud knowing the odometer is disconnected
A dealer has how many days to facilitate delivery from the date of sale? - answer-;30 Days
Which of the following is NOT proof of ownership for a Motor Vehicle for a CO dealer? -
answer-;a vehicle subject to a lien on the title
a dealers ad must contain the dealers licensed name and the words - answer-;Dealer
federal cash reporting requires dealers to file form 8300 with IRS within how many days of
receiving $10,000 cash? - answer-;15 days
Wholesalers may? - answer-;Sell to dealers and other wholesalers
or
Make a profit or gain selling to dealers and wholesalers
,The license of a Motor vehicle salesman may be revoked/suspended on the following grounds: -
answer-;Violating any of the terms and provisions
The license of a Motor vehicle salesman may be revoked/suspended on all grounds EXCEPT: -
answer-;advertising a salvaged vehicle while identifying that vehicle as salvaged
The advertised price of a Motor vehicle must include: - answer-;dealer handling and
preparation charges
Which must remain in the window of a new motor vehicle until its sold to the ultimate
purchaser? - answer-;Moroney label
A Motor vehicle dealer, wholesaler, or salesperson must give Dealer Board written notice of -
answer-;If hours of business are going to change
Motor vehicles with demo plates may be loaned to charity organizations and celebrities -
answer-;False
Which is a false statement regarding dealers and buyers - answer-;A dealer must offer a
warranty on all motor vehicles sold
in addition to possible dealer bond sanctions, if a dealer/salesperson uses bait & switch it is a
class 2 misdemeanor with 12 months maximum jailtime and $1,000 fine or both - answer-;TRUE
What is the highest fine per offense the dealer board may impose on dealers who sell vehicles
less than 1500 lbs? - answer-;$500
The license of a Motor vehicle salesperson or PWSPT may be denied/revoked/suspended on
any of the following grounds except - answer-;improperly
withholding/misappropriating/converting to ones own use any money belonging to customers
or any persons received in employment as a salesperson
, according to Colorado law which does NOT need to be licensed as a motor vehicle dealer? -
answer-;All of the above
The Motor Vehicle Dealer Board does NOT have among its members: - answer-;Three
employees from the dept. of revenue
A buyer agent - answer-;is retained or hired by a consumer to assist/represent/act on behalf of
such consumer in connection with the purchase of lease of a Motor vehicle
Local law enforcement agencies must be notified within 4 hours after the repossession of a
Motor Vehicle - answer-;False
1 hour
The license of a new or used dealer/Wholesaler may be denied/suspended /revoked /fined for
the following - answer-;Making a material misstatement in an application of license
A customer's trade-in vehicle on a financed deal may be sold - answer-;Only when the financing
has been approved and the contract binding has been signed
Which is NOT required when advertising a closed end credit sale? - answer-;Tax Rate
Which is not a deceptive trade practice? - answer-;Disclosing to the purchaser in writing prior
to the sale that a vehicle is a salvage
The Motor Vehicle dealer board may decide how large a fine to impose on a dealer who sells
vehicles <1500lbs, as long as it does not exceed $5,000 - answer-;False
$10,000
The Motor Vehicle Dealer board is authorized and empowered to - answer-;All of the above
