What is the primary legislation governing Ontario's retail automotive sector - correct answer The Motor Vehicle Dealers Act, 2002
Which body or agency
... [Show More] enforces the MVDA?
a) Ministry of Consumer Services
b) OADA/TADA
c) OMVIC
d) Automotive Business School of Canada - correct answer OMVIC
List three functions carried out by OMVIC - correct answer • 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? - correct answer Twelve total, nine dealers and three
consumer reps
Briefly explain the "Transaction Fee Program." - correct answer 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, dealers will be required to remit $10 (to OMVIC) for each vehicle sold or leased. - correct answer T
True or False: The transaction fee can be passed along to the customer. - correct answer T
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 salesperson
d) All of the above - correct answer All of the above
Should OMVIC determine a dealer's advertising to be false or misleading, what powers does OMVIC have to stop or correct it? - correct answer 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's pre-approval for future advertising? - correct answer Up to 2 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 - correct answer • If there has been an investigation
• If the dealership is about to fail
• If OMVIC is proposing to revoke a registration
• If a freeze order is about to be made
Capter 2 - correct answer [Show Less]