OMVIC CERTIFICATION EXAM 2024 2 CURRENTLYTESTING VERSIONS LATEST UPDATE ALL CHAPTERS INCLUDED
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OMVIC CERTIFICATION EXAM 2024
2 CURRENTLY
TESTING VERSIONS
LATEST
UPDATE
ALL
CHAPTERS
INCLUDED
OMVIC FINAL EXAM 2024 EXPERT
CERTIFIED QUESTIONS AND ANSWERS
ALREADY GRADED A+ NEW! NEW!
If an order is used to stop or correct false advertising, for how long may
the dealer need to seek OMVIC pre approval for future advertising? -
ANSWERS-up to 2 years
What is the minimum age requirement to become a dealer? -
ANSWERS-18
If a person has been refused registration, what are 2 conditions that
have to be met before the person can reapply? - ANSWERS-2 years
have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the
applicant appeal? - ANSWERS-LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of receiving the
proposal
List the 4 classes of dealers - ANSWERS-General dealer, Broker,
Exporter, Wholesaler, Lease finance dealer
,List 3 examples of individuals or businesses that are exempt from
registration - ANSWERS-Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - ANSWERS-
Where the public can see it
T or F: Dealers may sell vehicles from any location so long as they have
registered a head office with OMVIC - ANSWERS-False
T or F: the MVDA specifies the records a dealer must maintain- these
records must be held for at least 6 years. - ANSWERS-True
Which records of employees must be maintained? - ANSWERS-
Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? -
ANSWERS-OMVIC, in writing, within 5 days
In order for a remote storage location to be approved by OMVIC, which
condition must be met? - ANSWERS-The location is always accessible to
OMVIC staff during normal business hours
T or F: Under the MVDA, all dealers are required to maintain a trust
account - ANSWERS-False
, Deposits over what amount must be kept in a trust account? -
ANSWERS-$10 000 (ten thousand)
T or F: Before issuing a freeze order (freezing the dealer's assets or trust
funds), OMVIC must first notify the dealer - ANSWERS-False
On a purchase contact, what must be printed in 14 pt. bold font next to
the buyer's signature? - ANSWERS-This "sales final" statement on the
same page as the buyer's signature and adjacent to the signature
If a dealer does not have a specific new vehicle in stock, but will locate
the vehicle and bring it in, what must be disclosed to the purchaser
regarding the mileage? - ANSWERS-A maximum distance that will be
shown on the odometer at the same time of delivery or a statement
that there is no maximum
CERTIFIED QUESTIONS AND ANSWERS
ALREADY GRADED A+ NEW! NEW!
If an order is used to stop or correct false advertising, for how long may
the dealer need to seek OMVIC pre approval for future advertising? -
ANSWERS-up to 2 years
What is the minimum age requirement to become a dealer? -
ANSWERS-18
If a person has been refused registration, what are 2 conditions that
have to be met before the person can reapply? - ANSWERS-2 years
have passed; new evidence to demonstrate circumstances
If OMVIC issues a proposal to refuse registration, to whom can the
applicant appeal? - ANSWERS-LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of receiving the
proposal
List the 4 classes of dealers - ANSWERS-General dealer, Broker,
Exporter, Wholesaler, Lease finance dealer
,List 3 examples of individuals or businesses that are exempt from
registration - ANSWERS-Wholesale auction, wrecker, lawyer
Where is the certificate of the dealer registration kept? - ANSWERS-
Where the public can see it
T or F: Dealers may sell vehicles from any location so long as they have
registered a head office with OMVIC - ANSWERS-False
T or F: the MVDA specifies the records a dealer must maintain- these
records must be held for at least 6 years. - ANSWERS-True
Which records of employees must be maintained? - ANSWERS-
Employee names, proof of payments, and employee salaries
If a dealer's records are destroyed or stolen, the dealer must notify? -
ANSWERS-OMVIC, in writing, within 5 days
In order for a remote storage location to be approved by OMVIC, which
condition must be met? - ANSWERS-The location is always accessible to
OMVIC staff during normal business hours
T or F: Under the MVDA, all dealers are required to maintain a trust
account - ANSWERS-False
, Deposits over what amount must be kept in a trust account? -
ANSWERS-$10 000 (ten thousand)
T or F: Before issuing a freeze order (freezing the dealer's assets or trust
funds), OMVIC must first notify the dealer - ANSWERS-False
On a purchase contact, what must be printed in 14 pt. bold font next to
the buyer's signature? - ANSWERS-This "sales final" statement on the
same page as the buyer's signature and adjacent to the signature
If a dealer does not have a specific new vehicle in stock, but will locate
the vehicle and bring it in, what must be disclosed to the purchaser
regarding the mileage? - ANSWERS-A maximum distance that will be
shown on the odometer at the same time of delivery or a statement
that there is no maximum
OMVIC CERTIFICATION EXAM 2024 2 CURRENTLYTESTING VERSIONS LATESTUPDATEALLCHAPTERSINCLUDEDIf a dealer violates the advertising regulations, for how long may a dealer be required to seekOMVIC'Spre-approval for futureadvertising?A)UptoayearB)Upto2yearsC)Upto5yearsD)Upto 6 monthsB)Upto2yearsSelect all possible situations which could result in OMVIC applying to court to appoint areceiverand manager to assumetemporarycontrolof adealership.A)IftherehasbeenaninvestigationB)IfthedealershipisabouttofailC)Ifafreezeorder isabout tobemadeD)IfthedealerhasbeenconvictedE)IfOMVICisproposingtorevokea registrationA)IftherehasbeenaninvestigationB)IfthedealershipisabouttofailC)Ifafreezeorder isabout tobemadeE)IfOMVICisproposingtorevokea registrationWhatistheminimum agerequirementto become adealer?A)21
B)18C)19D)25B)18Which of the following is NOT a requirement that must be met when applying to become asalesperson?A)CompleteandpasstheCertification CourseB)PayappropriatefeeC)Possesstwoyear'sworkexperienceD)beemployedor retainedbyaregistereddealer toactas asalespersonC)Possesstwoyear'sworkexperienceAll dealer and salesperson applicants undergo a Canada-wide criminal record search as part oftheapplication screening process.A)TrueB)FalseA)TrueShouldOMVICdetermineadealer'sadvertisingtobefalseormisleadingwhatpowersdoesOMVIChaveto sotp or correct it?A)OMVICcanissueanorderrequiringthedealertoceasepublicationand/orissuearetractionorcorrectionB)OMVICdoes nothavepowersto stopthe publicationC)OMVICcanonlyissuefinesfor falseormisleadingadvertisingA)OMVICcanissueanorderrequiringthe dealertoceasepublicationand/orissuearetractionorcorrectionWhichofthefollowingmustberegisteredwith OMVIC(selectallthatapply)A)DealersB)SalespersonsC)BusinessmanagersD)FinancemanagersE)ServiceA)DealersB)SalespersonsC)BusinessmanagersD)FinancemanagersSelect the two reasons why OMVIC might refuse the registration or renewal of registration of adealeror salesperson.
A)Past conduct affords grounds for the belief the applicant won't conduct business with honestyand integrityB)The applicanthasnotyetattainedtheageof 25C)Lackofworkexperience
If a statement Standards Certificate is issues for a vehicle, it means? -
ANSWERS-The vehicle met certain basic standards of safety on the date
of inspection
B)18C)19D)25B)18Which of the following is NOT a requirement that must be met when applying to become asalesperson?A)CompleteandpasstheCertification CourseB)PayappropriatefeeC)Possesstwoyear'sworkexperienceD)beemployedor retainedbyaregistereddealer toactas asalespersonC)Possesstwoyear'sworkexperienceAll dealer and salesperson applicants undergo a Canada-wide criminal record search as part oftheapplication screening process.A)TrueB)FalseA)TrueShouldOMVICdetermineadealer'sadvertisingtobefalseormisleadingwhatpowersdoesOMVIChaveto sotp or correct it?A)OMVICcanissueanorderrequiringthedealertoceasepublicationand/orissuearetractionorcorrectionB)OMVICdoes nothavepowersto stopthe publicationC)OMVICcanonlyissuefinesfor falseormisleadingadvertisingA)OMVICcanissueanorderrequiringthe dealertoceasepublicationand/orissuearetractionorcorrectionWhichofthefollowingmustberegisteredwith OMVIC(selectallthatapply)A)DealersB)SalespersonsC)BusinessmanagersD)FinancemanagersE)ServiceA)DealersB)SalespersonsC)BusinessmanagersD)FinancemanagersSelect the two reasons why OMVIC might refuse the registration or renewal of registration of adealeror salesperson.
A)Past conduct affords grounds for the belief the applicant won't conduct business with honestyand integrityB)The applicanthasnotyetattainedtheageof 25C)Lackofworkexperience
If a statement Standards Certificate is issues for a vehicle, it means? -
ANSWERS-The vehicle met certain basic standards of safety on the date
of inspection
An "as is" sale? - ANSWERS-Must include a specific definition of "as is"
in the contract
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