OMVIC Q&A Latest 2025 Update

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OMVIC | Q&A Latest 2025/2026 | 100% PASS What is the primary legislation governing Ontario's retail automotive sector? - Answer -MVDA Which body or agency enforces MVDA? - Answer -OMVIC How many people compose OMVIC's board of directors? - Answer -12 in total, 9 dealers and 3 consumer reps What is the "transaction fee program"? - Answer -under the transaction fee program, dealers are required to remit $10 for each vehicle sold or leased to OMVIC. These funds are remitted annually with the dealers registration renewal fee. T or F: the fee can be passed on to the consumer - Answer -True What is OMVIC required to make available to the public? - Answer -A dealers name, address and phone number; a salespersons name; any proposal to refuse to renew, suspend or revoke the registration of a dealer or salesperson Should OMVIC determine a dealers advertising to be false or misleading what powers do they have to stop or correct it? - Answer -Order to the dealer to cease publication and or issue a retraction or correction 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? Answer -up to 2 years