OMVIC || 100% Correct Answers.
What is the main law that regulates Ontario's retail automation industry? correct answers
MVDA
Which agency enforces the MVDA correct answers OMVIC
What are three things OMVIC does? correct answers Registers dealers/sellers, inspects
dealers, investigates consumer complaints
Explain the transaction fee program correct answers Dealers must give $12.50 to OMVIC for
every vehicle they sell or lease
True or false: the transaction fee can be charged to the customer correct answers True
What information must OMVIC make available to the public correct answers A dealers
business name, address and phone number - A salespersons name - that a dealers or
salespersons registration has been revoked
If OMVIC finds that a dealers advertising is false or misleading, what can they do to stop or
fix it? correct answers Remove ad from circulation and pre-approve a revision
If a dealer gets a false advertising order, how long can OMVIC require them to get pre-
approval for their ads? correct answers Up to 2 years
What are two possible situations that could cause OMVIC to ask the court to appoint a
"receiver and manager" to assume control of a dealership? correct answers If the dealership is
going out of business, if the dealer is losing their registration
What is the minimum age required to be a dealer? correct answers 18
List three requirements to be a salesperson correct answers Pay fee, complete automotive
certification course, get employed as a salesperson
True or false: All dealers and salespeople go through a canada wide criminal record search as
part of the registration application process correct answers True
True or false: Dealers, Salespeople, Business managers and Finance managers must all be
registered with OMVIC correct answers True
List two reasons OMVIC might refuse a dealer or salespersons registration correct answers
Criminal record, Bad finances
If someone's registration has been refused, how long until they can reapply? correct answers
2 years
If OMVIC issues a proposal to refuse or revoke someone's registration, who can the person
appeal to? correct answers LAT (License Appeal Tribunal)
, List four classes of dealers correct answers General Used, General New, Exporter,
Wholesaler
List three examples of people or businesses that are exempt from registration with OMVIC
correct answers Rental Companies, Auctions, Lawyers
Name one change of information that dealers must notify OMVIC about correct answers
Address
Who should the dealer make responsible for ensuring all salespeople are registered? correct
answers The sales manager
OMVIC can refuse, rovoke or suspend registration of a dealer, salesperson or corporation if
the financial responsibility or past actions of an "interested person" gives them reason to.
Who does OMVIC consider an "interested person?" correct answers Someone who may
benefit, gain control or have financial gain
Where must the dealer keep their certificate of registration? correct answers Posted on a wall
in the dealership where everyone can see it
True or false: A salesperson must show their registration certificate to a customer if the
customer asks to see it correct answers True
True or false: dealers can sell vehicles from any location, as long as they've registered a head
office with OMVIC correct answers False
List two requirements for a dealership correct answers Sign, Office
The MVDA tells dealers what records they must keep. Is it true that dealers must keep these
records for at least 6 years? correct answers Yes, true
The Highway Traffic Act requires dealers to keep a complete record of every vehicle they
sell. What is this record called? correct answers Garage register
List four pieces of information dealers have to keep about vehicles they sell or lease correct
answers VIN, Safety, Consignment Contract, Work done on vehicle
True or false: if a dealers records are destroyed or stolen, the dealer must tell OMVIC in
writing within 5 days of occurrence. correct answers True
What does a dealer have to do if they want to store records somewhere other than the location
where they conduct business? correct answers Get approval from OMVIC
True or false: the MVDA requires all dealers to have a trust account correct answers False
Dealers must keep deposits of what amount or more in a trust account? correct answers
$10,000
True or false: OMVIC must notify a dealer before issuing an order to freeze their assets or
trust funds correct answers False
What is the main law that regulates Ontario's retail automation industry? correct answers
MVDA
Which agency enforces the MVDA correct answers OMVIC
What are three things OMVIC does? correct answers Registers dealers/sellers, inspects
dealers, investigates consumer complaints
Explain the transaction fee program correct answers Dealers must give $12.50 to OMVIC for
every vehicle they sell or lease
True or false: the transaction fee can be charged to the customer correct answers True
What information must OMVIC make available to the public correct answers A dealers
business name, address and phone number - A salespersons name - that a dealers or
salespersons registration has been revoked
If OMVIC finds that a dealers advertising is false or misleading, what can they do to stop or
fix it? correct answers Remove ad from circulation and pre-approve a revision
If a dealer gets a false advertising order, how long can OMVIC require them to get pre-
approval for their ads? correct answers Up to 2 years
What are two possible situations that could cause OMVIC to ask the court to appoint a
"receiver and manager" to assume control of a dealership? correct answers If the dealership is
going out of business, if the dealer is losing their registration
What is the minimum age required to be a dealer? correct answers 18
List three requirements to be a salesperson correct answers Pay fee, complete automotive
certification course, get employed as a salesperson
True or false: All dealers and salespeople go through a canada wide criminal record search as
part of the registration application process correct answers True
True or false: Dealers, Salespeople, Business managers and Finance managers must all be
registered with OMVIC correct answers True
List two reasons OMVIC might refuse a dealer or salespersons registration correct answers
Criminal record, Bad finances
If someone's registration has been refused, how long until they can reapply? correct answers
2 years
If OMVIC issues a proposal to refuse or revoke someone's registration, who can the person
appeal to? correct answers LAT (License Appeal Tribunal)
, List four classes of dealers correct answers General Used, General New, Exporter,
Wholesaler
List three examples of people or businesses that are exempt from registration with OMVIC
correct answers Rental Companies, Auctions, Lawyers
Name one change of information that dealers must notify OMVIC about correct answers
Address
Who should the dealer make responsible for ensuring all salespeople are registered? correct
answers The sales manager
OMVIC can refuse, rovoke or suspend registration of a dealer, salesperson or corporation if
the financial responsibility or past actions of an "interested person" gives them reason to.
Who does OMVIC consider an "interested person?" correct answers Someone who may
benefit, gain control or have financial gain
Where must the dealer keep their certificate of registration? correct answers Posted on a wall
in the dealership where everyone can see it
True or false: A salesperson must show their registration certificate to a customer if the
customer asks to see it correct answers True
True or false: dealers can sell vehicles from any location, as long as they've registered a head
office with OMVIC correct answers False
List two requirements for a dealership correct answers Sign, Office
The MVDA tells dealers what records they must keep. Is it true that dealers must keep these
records for at least 6 years? correct answers Yes, true
The Highway Traffic Act requires dealers to keep a complete record of every vehicle they
sell. What is this record called? correct answers Garage register
List four pieces of information dealers have to keep about vehicles they sell or lease correct
answers VIN, Safety, Consignment Contract, Work done on vehicle
True or false: if a dealers records are destroyed or stolen, the dealer must tell OMVIC in
writing within 5 days of occurrence. correct answers True
What does a dealer have to do if they want to store records somewhere other than the location
where they conduct business? correct answers Get approval from OMVIC
True or false: the MVDA requires all dealers to have a trust account correct answers False
Dealers must keep deposits of what amount or more in a trust account? correct answers
$10,000
True or false: OMVIC must notify a dealer before issuing an order to freeze their assets or
trust funds correct answers False
