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

OMVIC Practice Exam Chapter 1-18 with Answers simplifies your exam prep with solved past exams that mirror the actual test questions.

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    OMVIC Chapter 1-18 1. What is the primary legislation govern- ing Ontario's retail automotive sector? Moter Vehicle Dealers Act, 2002 2. Which body or agency enforces MVDA? OMVIC 3. List Three Functions carried out by OMVIC 1) Administers and enforces the MVDA 2) Inspects dealers 3)Maintains a complaint line for consumers 4) Conducts investigations 5) Conducts disciplinary hear- ings 6) Conducts prosecutions 7) Administers the Compensation Fund 4. How many people compose OMVICS board of directors? How many dealers ? How many consumers? 12 total 9 dealer 3 consumer 5. Briefly explain the "Transactional Fee Program" Under the transaction fee pro- gram , dealer are required to re- mit $10 for each vehicle sold or leased (included fleet and "as is" transactions ) to OMVIC. These funds are remitted annually with the dealers registration renewal fee. 6. True or False: The transaction fee can be passed along to the customer? True 7. True or False: Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased? True 8. What information is OMVIC required to make available to the public? 1) A dealer's business name, ad- dress and phone number 1 / 11

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    OMVIC Chapter 1-18 2) A salespersons name 3) Any proposal to refuse to re- new, suspend or revoke the regis- tration of a dealer or salesperson 9. Should OMVIC determine a dealers ad- vertising to be false or misleading, what powers 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 or correction 10. If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC's pre-ap- proval for future advertising? Up to 2 years 11. List two possible situations which could result in OMVIC applying to a court to appoint 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- tion 2) If the dealership is about to fail 3) If OMVIC is proposing to re- voke a registration 4) If a freeze order is about to be made 12. What is the minimum age requirement to become a dealer? 18 years old 13. List the three requirements that must be met when applying to become a sales- person? 1) Complete/Pass certification course 2) Pay Fee 3) Be employed or retained by 2 / 11

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    OMVIC Chapter 1-18 a registered dealer to act as a salesperson 14. True or False: All dealer and salesper- son applicants undergo a Canada-wide criminal record search as part of the application screening process. True 15. Which of the following must be regis- tered with OMVIC? 1) Dealers 2) Salesperson 3) Business managers 4) Finance Managers NOT 1) Service Managers 16. List two reasons why OMVIC might refuse the registration of a dealer or salesperson? 1) Past conduct 2) False statement on application 3) Failed to comply with terms 4) Cannot be expected to be fi- nancially responsible 5) The Compensation Fund has paid out a claim and has not been reimbursed 17. If a person has been refused registra- tion, what is one condition that has to be met before the person can reapply? One of the following: 1) Two years have passed 2) New evidence to demonstrate circumstances have changed 18. Should OMVIC issue a proposal to refuse (or revoke) registration , to whom can the applicant appeal? License Appeal Tribunal (LAT) 19. List the four "classes" of dealers 1) General Dealer 2) Broker 3) Wholesaler 4) Exporter 3 / 11

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