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Motor Vehicle Dealers Act (MVDA) Disclosure Quiz

10 Questions

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Motor Vehicle Dealers Act (MVDA) Disclosure Quiz

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Questions and Answers

According to the Motor Vehicle Dealers Act (MVDA), how must dealers provide disclosure?

Verbally and in writing

Only verbally

In any form as long as it is clear

Only in writing (correct)

What does CCP stand for in the context of the Ontario Motor Vehicle Industry Council's interpretation?

Clear, Comprehensible, and Prominent (correct)

Comprehensive Contract Protocol

Customer Care Principles

Contractual Compliance Parameters

What happens if a dealer fails to comply with certain disclosure requirements according to the MVDA?

The customer can cancel the contract and return the vehicle (correct)

The dealer is fined

The customer loses the right to cancel the contract

The dealer's license is suspended

What is the primary basis for the requirements set out in this chapter?

Motor Vehicle Dealers Act (MVDA) Signup and view all the answers

How does OMVIC interpret CCP when it comes to providing disclosures?

"CCP" is interpreted based on the Canadian Oxford Dictionary and by applying common sense Signup and view all the answers

What is a key consideration when making disclosures according to the text?

Ensuring the disclosures are easily understood by consumers Signup and view all the answers

Which condition is NOT required to be disclosed in a vehicle contract as per the text?

If the vehicle has been leased (rented) on a daily basis and subsequently owned by someone other than a dealer Signup and view all the answers

What is the minimum threshold for disclosing collision or incident damage to a vehicle according to the text?

$3,000 Signup and view all the answers

Which classification of a vehicle must be disclosed according to the Highway Traffic Act?

Salvage or rebuilt Signup and view all the answers

Why is it important to make all required disclosure statements stand out from the page?

To ensure consumers pay attention to critical information about the vehicle Signup and view all the answers