OMVIC MVDA and Legislation 2

Question 1

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

Accepted Answer

Ontario Motor Vehicle Industry Council (OMVIC)

Answer

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

Question 2

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

Accepted Answer

Used vehicles only

Answer

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

Question 3

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

Accepted Answer

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

Answer

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

Question 4

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

Accepted Answer

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

Answer

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

Question 5

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

Accepted Answer

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

Answer

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.

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test

OMVIC MVDA and Legislation 2