OMVIC Chapter 1-18 | 100% Correct Answers | Verified | Latest 2026/2027 Version

OMVIC Chapter 1-18 | 100% Correct Answers | Verified | Latest 2026/2027 Version
What is the primary legislation governing Ontario's retail automotive sector? - ✔✔Moter Vehicle Dealers
Act, 2002
Which body or agency enforces MVDA? - ✔✔OMVIC
List Three Functions carried out by OMVIC - ✔✔
1) Administers and enforces the MVDA
2) Inspects dealers
3)Maintains a complaint line for consumers
4) Conducts investigations
5) Conducts disciplinary hearings
6) Conducts prosecutions
7) Administers the Compensation Fund
How many people compose OMVICS board of directors? How many dealers ? How many consumers? -
✔✔12 total
9 dealer
3 consumer
Briefly explain the "Transactional Fee Program" - ✔✔Under the transaction fee program , dealer are
required to remit $10 for each vehicle sold or leased (included fleet and "as is" transactions ) to OMVIC.
These funds are remitted annually with the dealers registration renewal fee.
True or False: The transaction fee can be passed along to the customer? - ✔✔True
True or False: Under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each
retail vehicle sold or leased? - ✔✔True