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2023 OMVIC Final Exam with Answers (111 Solved Questions)

2023 OMVIC Final Exam with Answers is a proven way to improve exam performance with real test questions.

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OMVIC FINAL EXAM 2023What is the primary legislation governing Ontario's retail automotive sector? - ANSWERMVDAWhich body or agency enforces MVDA? - ANSWEROMVICHow many people compose OMVIC's board of directors? - ANSWER12 in total, 9 dealersand 3 consumer repsWhat is the "transaction fee program"? - ANSWERunder the transaction fee program,dealers are required to remit $10 for each vehicle sold or leased to OMVIC. These funds areremitted annually with the dealers registration renewal fee.T or F: the fee can be passed on to the consumer - ANSWERTrueWhat is OMVIC required to make available to the public? - ANSWERA dealers name,address and phone number; a salespersons name; any proposal to refuse to renew, suspendor revoke the registration of a dealer or salespersonShould OMVIC determine a dealers advertising to be false or misleading what powers do theyhave to stop or correct it? - ANSWEROrder to the dealer to cease publication and or issue aretraction or correctionIf an order is used to stop or correct false advertising, for how long may the dealer need toseek OMVIC pre approval for future advertising? - ANSWERup to 2 yearsWhat is the minimum age requirement to become a dealer? - ANSWER18If a person has been refused registration, what are 2 conditions that have to be met beforethe person can reapply? - ANSWER2 years have passed; new evidence to demonstratecircumstancesIf OMVIC issues a proposal to refuse registration, to whom can the applicant appeal? -ANSWERLAT (license appeal tribunal ), Independent judicial body called LAT, within 15 daysof receiving the proposalList the 4 classes of dealers - ANSWERGeneral dealer, Broker, Exporter, Wholesaler, Leasefinance dealerList 3 examples of individuals or businesses that are exempt from registration - ANSWERWholesale auction, wrecker, lawyer

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