Practice Test GeeksOMVIC (Ontario Motor Vehicle Industry Council) Practice Test
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MVDA and Legislation 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 MVDA and Legislation flashcards as text

  1. Which organization is responsible for administering the Motor Vehicle Dealers Act, 2002 in Ontario?

    Answer: Ontario Motor Vehicle Industry Council (OMVIC)

    OMVIC is the delegated administrative authority responsible for registering dealers and salespeople and enforcing the MVDA in Ontario.

  2. For which type of vehicle transaction is a Condition Disclosure Statement (CDS) required under the MVDA?

    Answer: Used vehicles only

    The CDS is required for used motor vehicles and must be completed by the seller prior to completing the transaction.

  3. Under OMVIC advertising standards, which costs must be included in a dealer's advertised vehicle price?

    Answer: All dealer-controlled fees and charges, excluding government taxes and licensing

    Advertised prices must include all fees and charges within the dealer's control; government taxes and licensing fees are the only permitted exclusions.

  4. Does the MVDA provide consumers in Ontario with a mandatory cooling-off period to cancel a motor vehicle purchase contract?

    Answer: No, there is no mandatory cooling-off period for motor vehicle purchases

    Unlike some consumer contracts, the MVDA does not provide a statutory cooling-off period for motor vehicle purchases in Ontario.

  5. When a dealer sells a used vehicle on an 'as-is' basis under the MVDA, what obligation remains?

    Answer: The dealer must still disclose all known material defects to the buyer

    An as-is designation does not remove the obligation to disclose known material defects; dealers must still be honest about issues they are aware of.

  6. Under the MVDA, how is a 'broker' class registration best described?

    Answer: A registrant who, for compensation, facilitates vehicle transactions without taking title to the vehicle

    A broker connects buyers and sellers and earns compensation for facilitating the transaction but does not take ownership of the vehicle.

  7. What is the purpose of a dealer's trust account under the MVDA?

    Answer: To hold customer deposits separately from the dealer's general operating funds

    Customer deposits must be held in trust in an account separate from operating funds to protect the consumer's money until the transaction is completed or funds are returned.