OMVIC Legal Requirements 5

Question 1

Under OMVIC rules, which of the following is a salesperson required to disclose when selling a vehicle previously used as a rental?

Accepted Answer

That the vehicle was previously used as a rental

Answer

Previous rental use is a material fact that dealers must proactively disclose to consumers under OMVIC's disclosure requirements.

Question 2

Under the MVDA, who is responsible for ensuring that all salespeople working at a dealership are properly registered with OMVIC?

Accepted Answer

The registered dealer (owner/operator)

Answer

The registered dealer bears responsibility for ensuring all salespeople on their roster are properly registered with OMVIC.

Question 3

A dealer's registration is suspended by OMVIC. During the suspension period, the dealer may:

Accepted Answer

Not buy, sell, or trade in motor vehicles

Answer

A suspended dealer is prohibited from all buying, selling, and trading of motor vehicles during the suspension period.

Question 4

Which of the following is NOT a ground for OMVIC to refuse or revoke a dealer's registration?

Accepted Answer

Insufficient business experience

Answer

OMVIC cannot refuse registration solely based on insufficient business experience; the grounds relate to honesty, financial fitness, and compliance history.

Question 5

Under OMVIC regulations, a contract of purchase and sale for a motor vehicle must be provided to the buyer:

Accepted Answer

At the time of signing

Answer

The dealer must provide the buyer with a copy of the signed contract at the time of signing, not after the fact.

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test

OMVIC Legal Requirements 5