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

The MVDA 2002 requires dealers to provide a written contract (bill of sale) to purchasers before the sale is completed.

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

Dealers must disclose prior use as a taxi, police vehicle, or daily rental before the sale is finalized, not after.

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

Dealers must disclose prior accident or damage repairs exceeding $3,000 to prospective buyers before the sale.

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

If a dealer cannot fulfill the sales agreement, the buyer is entitled to a full refund of any deposit paid.

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 odometer reading at time of sale is a required disclosure on the bill of sale under the MVDA to prevent odometer fraud.

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test