OMVIC Automotive Test (Chapter 1-18) - Complete Solutions (Answered)

Document Content and Description Below

OMVIC Automotive Test (Chapter 1-18) - Complete Solutions (Answered) What is the primary legislation governing Ontario's retail automotive sector? (C1) MVDA Which body or agency enforces MVDA? (C1) ... a) Ministry of Government and Consumer Services b) TADA c) OMVIC d) Automotive Business School of Canada List three functions carried out by OMVIC (C1). - Administers and enforces the MVDA - Inspects dealers - Maintains a complaint line for consumers - Conducts investigations - Conducts disciplinary hearings - Conducts prosecutions - Administers the compensation fund How many people compose OMVIC's board of directors? Of these, how many represent the industry and how many represent consumers? (C1) 12 in total, 9 dealers and 3 consumer reps Briefly explain the "Transaction Fee Program" (C1). 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. True or False: Under the Transaction Fee Program, the dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased. (C1) True T or F: the fee can be passed on to the consumer (C1) True What is OMVIC required to make available to the public? (C1) a) A dealers name, address and phone number b) a salespersons name c) any proposal to refuse to renew, suspend or revoke the registration of a dealer or salesperson d) all of the above Should OMVIC determine a dealers advertising to be false or misleading what powers do they have to stop or correct it? (C1) OMVIC may issue an order requiring 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? (C1) Up to two years List two possible situations which could result in OMVIC applying to a court to appoint a receiver and manager to assume temporary control of a dealership. (C1) This action might be taken: - If there has been an investigation - If the dealership is about to fall - If OMVIC is proposing to revoke a registration - If a freeze order is about to be made What is the minimum age requirement to become a dealer? (C2) 18 List three requirements that must be met when applying to become a salesperson.(C2) - Complete/pass certification course - Pay fee - Be employed or retained by a registered dealer to act as a salesperson. True or False: All dealer and salesperson applicants undergo a Canada-wide criminal record search as part of the application screening process. (C2) True Which of the following must be registered with OMVIC? (C2) a) Dealers b) Salespersons c) Business managers d) Finance managers e) Service Managers List two reasons why OMVIC might refuse the registration of a dealer or salesperson? (C2) Any two of: - Past conduct - False statement on application - Failed to comply with terms - Cannot be expected to be financially responsible - The Compensation Fund has paid out a claim and has not been reimburse If a person has been refused registration, what is one of the condition that has to be met before the person can re-apply? (C2) One of the following: - Two years have passed - New evidence to demonstrate circumstance has changed Should OMVIC issue a proposal to refuse (or revoke) registration, to whom the applicant can appeal? (C2) License Appeal Tribunal (LAT) List the 4 classes of dealers (C2) 1. General dealer 2. Broker, Exporter 3. Wholesaler 4. Lease finance dealer List 3 examples of individuals or businesses that are exempt from registration (C2) 1. Wholesale auction 2. Wrecker 3. Lawyer Name one "Change of Information" that a dealer must notify OMVIC about (C2) Any of the following: - Change of dealer address - Changes of officers or directors (if dealer is a corporation or partnership) - The date of commencement of employment of every salesperson - The termination of employment of a salesperson and the date and reason for termination Please choose the most correct answer: (C2) In a large dealership, if the dealer principal delegates responsibility for ensuring that salespersons are registered, this should be delegated to: a) The Bookkeeper b) The Salesperson c) The Sales Manager d) The Payroll Supervisor [Show More]

Last updated: 1 month ago

Preview 1 out of 17 pages