OMVIC OMVIC Dealer Operations and Business Practices

Question 1

Under OMVIC regulations, how long must a registered dealer retain vehicle sales records?

Accepted Answer

6 years

Answer

Ontario's Motor Vehicle Dealers Act requires dealers to keep records for a minimum of 6 years.

Question 2

Which document must an OMVIC-registered dealer prominently display in their place of business?

Accepted Answer

Dealer registration certificate

Answer

Dealers are required by the MVDA to prominently display their dealer registration certificate at their premises.

Question 3

What is the primary role of a dealer operator under OMVIC?

Accepted Answer

Ensure the dealership complies with all MVDA requirements

Answer

The dealer operator is legally responsible for ensuring the dealership and all its registrants comply with MVDA obligations.

Question 4

When a dealership changes its registered address, what must it do?

Accepted Answer

Notify OMVIC immediately

Answer

Dealers must notify OMVIC immediately of any change to their registered business address.

Question 5

Which of the following is a prohibited trade practice under the MVDA for dealers?

Accepted Answer

Making false or misleading representations

Answer

Making false or misleading representations about a vehicle or transaction is explicitly prohibited under the MVDA.

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test