2023 OMVIC Final Exam with Answers (111 Solved Questions)

Name: 2023 OMVIC Final Exam with Answers (111 Solved Questions)
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OMVIC FINAL EXAM 2023
What is the primary legislation governing Ontario's retail automotive sector? - ANSWER
MVDA
Which body or agency enforces MVDA? - ANSWER OMVIC
How many people compose OMVIC's board of directors? - ANSWER 12 in total, 9 dealers
and 3 consumer reps
What is the "transaction fee program"? - ANSWER 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 - ANSWER True
What is OMVIC required to make available to the public? - ANSWER 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? - ANSWER Order to 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? - ANSWER up to 2 years
What is the minimum age requirement to become a dealer? - ANSWER 18
If a person has been refused registration, what are 2 conditions that have to be met before
the person can reapply? - ANSWER 2 years have passed; new evidence to demonstrate
circumstances
If OMVIC issues a proposal to refuse registration, to whom can the applicant appeal? -
ANSWER LAT (license appeal tribunal ), Independent judicial body called LAT, within 15 days
of receiving the proposal
List the 4 classes of dealers - ANSWER General dealer, Broker, Exporter, Wholesaler, Lease
finance dealer
List 3 examples of individuals or businesses that are exempt from registration - ANSWER
Wholesale auction, wrecker, lawyer

Where is the certificate of the dealer registration kept? - ANSWER Where the public can see
it
T or F: Dealers may sell vehicles from any location so long as they have registered a head
office with OMVIC - ANSWER False
T or F: the MVDA specifies the records a dealer must maintain- these records must be held for
at least 6 years. - ANSWER True
Which records of employees must be maintained? - ANSWER Employee names, proof of
payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? - ANSWER OMVIC, in
writing, within 5 days
In order for a remote storage location to be approved by OMVIC, which condition must be
met? - ANSWER The location is always accessible to OMVIC staff during normal business
hours
T or F: Under the MVDA, all dealers are required to maintain a trust account - ANSWER False
Deposits over what amount must be kept in a trust account? - ANSWER $10 000 (ten
thousand)
T or F: Before issuing a freeze order (freezing the dealer's assets or trust funds), OMVIC must
first notify the dealer - ANSWER False
On a purchase contact, what must be printed in 14 pt. bold font next to the buyer's signature?
- ANSWER This "sales final" statement on the same page as the buyer's signature and
adjacent to the signature
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? - ANSWER A maximum
distance that will be shown on the odometer at the same time of delivery or a statement that
there is no maximum
If a statement Standards Certificate is issues for a vehicle, it means? - ANSWER The vehicle
met certain basic standards of safety on the date of inspection
An "as is" sale? - ANSWER Must include a specific definition of "as is" in the contract
T or F: a dealer selling a vehicle "as is" may also provide a Safety Standards Certificate for the
vehicle - ANSWER False
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. - ANSWER OMVIC, Motor
Vehicle Dealer Compensation Fund, CAMVAP
If a customer gives a deposit but don't sign a contract, what rights do they have? - ANSWER
If there is no signed contract and a deposit or trade in is given to the dealer, the purchaser can
cancel the contract at any time and demand his or her deposit or trade in back.
List the "previous uses of a vehicle" a dealer must disclose - ANSWER taxi, limo, police
vehicle, emergency services, daily rental (unless subsequently owned by someone other than
a dealer)
List the types of incident damage that must be disclosed - ANSWER collision (greater than
$3000 in damage), fire, floor, and structural damage or alterations
In regards to replacement, what must be disclosed? - ANSWER The replacement of 2 or
more adjacent body panels (excluding bumper covers)
Dealers must disclose known damage repairs in excess of? - ANSWER $3 000
T or F: A dealer does not have to inform a purchaser that a vehicle's manufacturer's warranty
has been cancelled, so long as the dealer offers or sells the purchaser an extended warranty -
ANSWER False
List some conditions that must be disclosed about a vehicle - ANSWER A vehicle was
previously registered in another province, state or country; a vehicle's anti-lock braking
system is not functioning; a vehicle's airbags are missing; a vehicle's air conditioning system
requires repair
Discloser must be provided in a timely manner, in writing, and be presented in a way that is: -
ANSWER clear, comprehensible, and prominent
T or F: the MVDA remedy of recession (cancellation of a sales contract) is available only to a
customer who is a consumer - ANSWER True
Recession is automatically granted for failing to disclose? - ANSWER The make, model and
model year of the vehicle; the vehicle was previously a taxi or limo; the vehicle has been
branded
There are other disclosure requirements that, if not met, trigger a customer's rights. What are
they? - ANSWER Previous use as police emergency services vehicle; previous use as a daily
rental; mileage/distance travelled
T or F: the remedy of remission is available to a customer who is also a dealer - ANSWER

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