OMVIC FINAL EXAM
Question : Ch.1 - What is the primary legislation governing
Ontario's retail automotive sector?
CORRECT ANSWER : The Motor Vehicle Dealers Act,
2002 see 1.04
Question : Ch.1 - Which body or agency enforces the
MVDA? a. Ministry of Government and Consumer Services
- TADA c. OMVIC d. Automotive Business School of
Canada
CORRECT ANSWER : c. OMVIC
see 1.04
Question : Ch.1 - List three functions carried out by OMVIC.
CORRECT ANSWER : Any three of the following:
Administers and enforces the MVDA
Inspects dealers
Maintains a complaint line for consumers
Conducts investigations
Conducts disciplinary hearings -Conducts prosecutions
Administers the Compensation Fund see 1.07
Question : Ch.1 - How many people compose OMVIC's
Board of Directors? Of these, how many represent the industry and how many represent the consumers?
CORRECT ANSWER : Twelve total, nine dealers and three
consumer reps see 1.07
Question : Ch.1 - Briefly explain the "Transaction Fee
Program."
CORRECT ANSWER : Under the transaction fee program,
dealers are required to remit $10 for each vehicle sold or leased (including fleet and "as is" transactions) to OMVIC.These funds are remitted annually with the dealer's registration renewal fee.see 1.08
Question : Ch.1 - True of False: Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased.
CORRECT ANSWER : True
see 1.08
Question : Ch.1 - True or False: The transaction fee can be passed along to the customer.
CORRECT ANSWER : True
see 1.08
Question : Ch.1 - What information is OMVIC required to
make available to the public? a. A dealer's business name, address and phone number b. A Salesperson's name c. Any proposal to refuse to renew, suspend or revoke the registration of a dealer or a salesperson d. All of the above
CORRECT ANSWER : d. All of the above
see 1.12
Question : Ch.1 - Should OMVIC determine a dealer's
advertising to be false or misleading, what powers does OMVIC have to stop or correct it?
CORRECT ANSWER : OMVIC may issue an order
requiring the dealer to cease publication and/or issue a retractions or correction.see 1.12
Question : Ch.1 - If an order is used to stop or correct false
advertising, for how long may the dealer need to seek OMVIC's pre-approval for future advertising?
CORRECT ANSWER : Up to two years
see 1.09