OMVIC Vehicle Sales Process and Documentation Flashcards
7 cards from real OMVIC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 OMVIC Vehicle Sales Process and Documentation flashcards as text
Under the MVDA 2002, which document must a registered motor vehicle dealer provide to a buyer before finalizing a vehicle sale?
Answer: A written contract or bill of sale
The MVDA 2002 requires dealers to provide a written contract (bill of sale) to purchasers before the sale is completed.
A dealer discovers a used vehicle was previously used as a taxi. Under OMVIC regulations, when must this be disclosed to the buyer?
Answer: Before the sale is completed
Dealers must disclose prior use as a taxi, police vehicle, or daily rental before the sale is finalized, not after.
What is the OMVIC-prescribed threshold for accident damage that triggers a mandatory disclosure requirement on a used vehicle?
Answer: $3,000 or more
Dealers must disclose prior accident or damage repairs exceeding $3,000 to prospective buyers before the sale.
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?
Answer: Refund the deposit in full
If a dealer cannot fulfill the sales agreement, the buyer is entitled to a full refund of any deposit paid.
Which of the following must appear on every motor vehicle bill of sale in Ontario under OMVIC standards?
Answer: The vehicle's odometer reading at time of sale
The odometer reading at time of sale is a required disclosure on the bill of sale under the MVDA to prevent odometer fraud.
A vehicle has been branded as 'Irreparable' by a previous insurer. What must an OMVIC-registered dealer do before selling this vehicle?
Answer: Disclose the brand status to the buyer before the sale
Brand or title designations such as 'Irreparable,' 'Salvage,' or 'Rebuilt' must be disclosed to the buyer prior to completing any sale.
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?
Answer: There is no cooling-off cancellation right for new vehicles signed at a dealership
Unlike door-to-door sales, there is no statutory cooling-off period for new vehicle purchases completed at a dealership under Ontario law.