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OMVIC CHAPTER 1-18/ 58 QUESTIONS AND ANSWERS 2023-2024 UPDATE| A GRADED
Use the 32 quiz questions to prepare yourself and test whether you know the subject matter.
Preview (8 of the 32 quiz questions)
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DownloadWhat is the primary legislation governing Ontarios retail automotive sector?
Flip card
MVDA
Which body or agency enforces MVDA?
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OMVIC
How many people compose OMVICs board of directors?
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12 in total, 9 dealers and 3 consumer reps
What is the ransaction fee program?
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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
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True
What is OMVIC required to make available to the public?
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A dealers name, address, and phone number; a salespersons name; any proposal to refuse to renew, suspend, or revoke the registration of a dealer or salesperson
Should OMVIC determine a dealers advertising to be false or misleading, what powers do they have to stop or correct it?
Flip card
Order the dealer to cease publication and/or issue a retraction or correction
If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC pre-approval for future advertising?
Flip card
Up to 2 years
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What is the primary legislation governing Ontarios retail automotive sector?
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What is the ransaction fee program?
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Check answerAnswer:
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.
Your answer:
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Question:
What is OMVIC required to make available to the public?
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Check answerAnswer:
A dealers name, address, and phone number; a salespersons name; any proposal to refuse to renew, suspend, or revoke the registration of a dealer or salesperson
Your answer:
input text value
Ask answers again
Question:
Should OMVIC determine a dealers advertising to be false or misleading, what powers do they have to stop or correct it?
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Check answerAnswer:
Order the dealer to cease publication and/or issue a retraction or correction
Your answer:
input text value
Ask answers again
Question:
If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC pre-approval for future advertising?
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In this set of practice questions, you will find 32 questions and answers related to OMVIC Chapter 1-18/58. These questions cover various topics and updates for the year 2023-2024. Use these questions to test your knowledge and prepare for your graded assessment.
Number
32 questions
Language
English
Made on
11-22-2023
View all 32 quiz questions
-
What is the primary legislation governing Ontarios retail automotive sector?
MVDA -
Which body or agency enforces MVDA?
OMVIC -
How many people compose OMVICs board of directors?
12 in total, 9 dealers and 3 consumer reps -
What is the ransaction 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 public?
A dealers name, address, and phone number; a salespersons name; any proposal to refuse to renew, suspend, or revoke the registration of a dealer or salesperson -
Should OMVIC determine a dealers advertising to be false or misleading, what powers do they have to stop or correct it?
Order the dealer to cease publication and/or issue a retraction or correction -
If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC pre-approval for future advertising?
Up to 2 years -
What is the minimum age requirement to become a dealer?
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If a person has been refused registration, what are 2 conditions that have to be met before the person can reapply?
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If OMVIC issues a proposal to refuse registration, to whom can the applicant appeal?
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List the 4 classes of dealers.
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List 3 examples of individuals or businesses that are exempt from registration.
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Where is the certificate of the dealer registration kept?
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T or F: Dealers may sell vehicles from any location so long as they have registered a head office with OMVIC.
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T or F: the MVDA specifies the records a dealer must maintain - these records must be held for at least 6 years.
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Which records of employees must be maintained?
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If a dealers records are destroyed or stolen, the dealer must notify?
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In order for a remote storage location to be approved by OMVIC, which condition must be met?
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T or F: Under the MVDA, all dealers are required to maintain a trust account.
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Deposits over what amount must be kept in a trust account?
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T or F: Before issuing a freeze order (freezing the dealers assets or trust funds), OMVIC must first notify the dealer.
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On a purchase contact, what must be printed in 14 pt. bold font next to the buyers signature?
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If a dealer does not have a specific new vehicle in stock but will locate the vehicle and bring it in, what must be disclosed to the purchaser regarding the mileage?
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If a Statement Standards Certificate is issued for a vehicle, what does it mean?
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What is an as is sale?
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T or F: a dealer selling a vehicle as is may also provide a Safety Standards Certificate for the vehicle.
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Contracts must have advisory or educational statements designed to inform purchasers/lessees about their rights and responsibilities and to ensure they know about the existence of certain agencies or organizations. Name them.
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If a customer gives a deposit but doesnt sign a contract, what rights do they have?
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List the previous uses of a vehicle a dealer must disclose.
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List the types of incident damage that must be disclosed.
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In regards to replacement, what must be disclosed?
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