OMVIC OMVIC Vehicle Sales Process and Documentation 1

Question 1

Under the MVDA 2002, which document must a registered motor vehicle dealer provide to a buyer before finalizing a vehicle sale?

Accepted Answer

A written contract or bill of sale

Answer

A warranty card from the manufacturer

Answer

A vehicle inspection sticker

Answer

A CARFAX report

Question 2

A dealer discovers a used vehicle was previously used as a taxi. Under OMVIC regulations, when must this be disclosed to the buyer?

Accepted Answer

Before the sale is completed

Answer

Only if the buyer specifically asks

Answer

Within 10 days after sale completion

Answer

Only on vehicles under 5 years old

Question 3

What is the OMVIC-prescribed threshold for accident damage that triggers a mandatory disclosure requirement on a used vehicle?

Accepted Answer

$3,000 or more

Answer

$1,000 or more

Answer

$2,000 or more

Answer

$5,000 or more

Question 4

Under the MVDA, if a buyer pays a deposit on a vehicle and the dealer cannot deliver it as agreed, what is the dealer generally required to do?

Accepted Answer

Refund the deposit in full

Answer

Offer a store credit for future purchase

Answer

Apply the deposit to a different vehicle

Answer

Keep the deposit as a processing fee

Question 5

Which of the following must appear on every motor vehicle bill of sale in Ontario under OMVIC standards?

Accepted Answer

The vehicle's odometer reading at time of sale

Answer

The salesperson's commission amount

Answer

The buyer's insurance policy number

Answer

The vehicle's service history from the last 5 years

Question 6

A vehicle has been branded as 'Irreparable' by a previous insurer. What must an OMVIC-registered dealer do before selling this vehicle?

Accepted Answer

Disclose the brand status to the buyer before the sale

Answer

Obtain a clean title from the Ministry

Answer

Only sell the vehicle at auction

Answer

Remove the brand notation with Ministry approval

Question 7

Under the MVDA 2002, which of the following is a true statement about a buyer's right to cancel a contract for a new motor vehicle?

Accepted Answer

There is no cooling-off cancellation right for new vehicles signed at a dealership

Answer

The buyer has 10 days to cancel without penalty

Answer

The buyer has 48 hours to cancel if signed at an auto show

Answer

The buyer can cancel any time before delivery with no penalty