OMVIC OMVIC Warranties and Vehicle Condition Representations 4

Question 1

Under OMVIC regulations, if a dealer sells a vehicle 'as-is', what obligation still remains?

Accepted Answer

The dealer must still disclose known material defects

Answer

Even with an 'as-is' sale, OMVIC requires dealers to disclose known material defects that could affect safety or value.

Question 2

A dealer represents a used vehicle as having 'no accident history' but fails to check CarFax. The vehicle had a prior collision. This is best described as:

Accepted Answer

A fraudulent or negligent misrepresentation

Answer

Claiming no accident history without verifying it constitutes negligent or fraudulent misrepresentation under OMVIC's Code of Ethics.

Question 3

Which of the following is NOT a required disclosure under OMVIC's Used Vehicle Information Package (UVIP)?

Accepted Answer

The dealer's profit margin on the vehicle

Answer

The UVIP requires ownership history, liens, and registration data, but dealer profit margins are not a mandated disclosure.

Question 4

A buyer purchases a vehicle and later discovers the odometer was rolled back by 50,000 km. Under OMVIC, this is:

Accepted Answer

A criminal offence and OMVIC Code of Ethics violation

Answer

Odometer tampering is a criminal offence in Canada and a serious violation of OMVIC's Code of Ethics.

Question 5

Under OMVIC's Compensation Fund, what is the primary purpose of the fund?

Accepted Answer

To compensate consumers who suffer financial loss due to dealer misconduct

Answer

The OMVIC Compensation Fund exists specifically to compensate consumers who suffer financial losses caused by registered dealer misconduct.

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test

OMVIC (Ontario Motor Vehicle Industry Council) Practice Test

OMVIC OMVIC Warranties and Vehicle Condition Representations 4