OMVIC Exam Study Guide | 100% Correct Answers | Verified | Latest 2026/2027 Version

OMVIC Exam Study Guide | 100% Correct Answers | Verified | Latest 2026/2027 Version

Ch.1 - What is the primary legislation governing Ontario's retail automotive sector? - ✔✔The Motor
Vehicle Dealers Act, 2002
see 1.04
Ch.1 - Which body or agency enforces the MVDA?
a. Ministry of Government and Consumer Services
b. TADA
c. OMVIC
d. Automotive Business School of Canada - ✔✔c. OMVIC
see 1.04
Ch.1 - List three functions carried out by OMVIC. - ✔✔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
Ch.1 - How many people compose OMVIC's Board of Directors? Of these, how many represent the
industry and how many represent the consumers? - ✔✔Twelve total, nine dealers and three consumer
reps
see 1.07
Ch.1 - Briefly explain the "Transaction Fee Program." - ✔✔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
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. - ✔✔True
see 1.08
Ch.1 - True or False: The transaction fee can be passed along to the customer. - ✔✔True
see 1.08
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 - ✔✔d. All of the above