OMVIC Practice Exam Chapter 1-18 with Answers (59 Solved Questions)

Preview (4 of 11 Pages)

100%

OMVIC Practice Exam Chapter 1-18 with Answers (59 Solved Questions) - Page 1 preview image

Loading page ...

OMVIC Chapter 1-181.What is the primary legislation govern-ing Ontario's retail automotive sector?Moter Vehicle Dealers Act, 20022.Which body or agency enforces MVDA?OMVIC3.List Three Functions carried out byOMVIC1) Administers and enforces theMVDA2) Inspects dealers3)Maintains a complaint line forconsumers4) Conducts investigations5) Conducts disciplinary hear-ings6) Conducts prosecutions7) Administers the CompensationFund4.How many people compose OMVICSboard of directors? How many dealers ?How many consumers?12 total9 dealer3 consumer5.Briefly explain the "Transactional FeeProgram"Under the transaction fee pro-gram , dealer are required to re-mit $10 for each vehicle sold orleased (included fleet and "as is"transactions ) to OMVIC. Thesefunds are remitted annually withthe dealers registration renewalfee.6.True or False:The transaction fee can bepassed along to the customer?True7.True or False: Under the Transaction FeeProgram, dealers are required to remit$10 (to OMVIC) for each retail vehiclesold or leased?True8.What information is OMVIC required tomake available to the public?1) A dealer's business name, ad-dress and phone number1 / 11

OMVIC Practice Exam Chapter 1-18 with Answers (59 Solved Questions) - Page 2 preview image

Loading page ...

OMVIC Practice Exam Chapter 1-18 with Answers (59 Solved Questions) - Page 3 preview image

Loading page ...

OMVIC Chapter 1-182) A salespersons name3) Any proposal to refuse to re-new, suspend or revoke the regis-tration of a dealer or salesperson9.Should OMVIC determine a dealers ad-vertising to be false or misleading, whatpowers does OMVIC have to stop or cor-rect it?OMVIC may issue an order re-quiring the dealer to cease publi-cation and/or issue a retraction orcorrection10.If an order is used to stop or correctfalse advertising, for how long may thedealer need to seek OMVIC's pre-ap-proval for future advertising?Up to 2 years11.List two possible situations which couldresult in OMVIC applying to a court toappoint a receiver and manager to as-sume temporary control of a dealership.This action might be taken if:1) If there has been an investiga-tion2) If the dealership is about to fail3) If OMVIC is proposing to re-voke a registration4) If a freeze order is about to bemade12.What is the minimum age requirementto become a dealer?18 years old13.List the three requirements that must bemet when applying to become a sales-person?1) Complete/Pass certificationcourse2) Pay Fee3) Be employed or retained by2 / 11

OMVIC Practice Exam Chapter 1-18 with Answers (59 Solved Questions) - Page 4 preview image

Loading page ...

OMVIC Chapter 1-18a registered dealer to act as asalesperson14.True or False: All dealer and salesper-son applicants undergo a Canada-widecriminal record search as part of theapplication screening process.True15.Which of the following must be regis-tered with OMVIC?1) Dealers2) Salesperson3) Business managers4) Finance ManagersNOT1) Service Managers16.List two reasons why OMVIC mightrefuse the registration of a dealer orsalesperson?1) Past conduct2) False statement on application3) Failed to comply with terms4) Cannot be expected to be fi-nancially responsible5) The Compensation Fund haspaid out a claim and has not beenreimbursed17.If a person has been refused registra-tion, what is one condition that has tobe met before the person can reapply?One of the following:1) Two years have passed2) New evidence to demonstratecircumstances have changed18.Should OMVIC issue a proposal torefuse (or revoke) registration , to whomcan the applicant appeal?License Appeal Tribunal (LAT)19.List the four "classes" of dealers1) General Dealer2) Broker3) Wholesaler4) Exporter3 / 11

Preview Mode

This document has 11 pages. Sign in to access the full document!

Report

Study Now!

Document Details

Related Documents

SAP S/4HANA Sales Certification Guide: Application Associate Exam (2021)

SAP HANA 2.0 Certification Guide: Technology Associate Exam (2021)

SAP S/4HANA Business Process Integration Certification Guide: Application Associate Exam (2021)

SAP S/4HANA Production Planning and Manufacturing Certification Guide: Application Associate Exam (2022)

2023 CMY2601 Crime Risk Perspectives Practice Exam with Answers (130 Solved Questions)

LETRS Unit 4 Assessment with Answers (15 Solved Questions)

NCC EFM Exam Breakdown and Study Guide with Answers (72 Solved Questions)

2023 AVID Media Composer 101 Certification Practice Exam with Answers (233 Solved Questions)

Indiana For Hire Endorsement Practice Exam with Answers (34 Solved Questions)

State of Colorado Question and Verified Answers with Answers (40 Solved Questions)

Company

Explore

Study Tools