MVDA Regulations for Auto Dealers Quiz
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Questions and Answers

What is the minimum third-party coverage required for a valid garage and auto policy?

  • $500,000
  • $750,000
  • $2,000,000
  • $1,000,000 (correct)

    • Under the MVDA, which of the following types of records must a dealer maintain?

  • Financial auditing records
  • Customer feedback records
  • Business records (correct)
  • Employee records

    • What must a dealer ensure when sharing a location with other dealers?

  • Dealers can close their businesses anytime
  • Customers can easily identify the dealers (correct)
  • No inspections can be conducted by OMVIC
  • All vehicles must be owned by the same dealer

    • Which type of record is NOT covered by the MVDA?

    <p>Insurance claim records</p> Signup and view all the answers

    What does the MVDA require regarding the storage of records?

    <p>Records should be stored properly to allow inspection</p> Signup and view all the answers

    What must applicants provide to OMVIC on their application forms?

    <p>Complete and true information</p> Signup and view all the answers

    What happens if a new applicant does not meet the MVDA requirements?

    <p>OMVIC can refuse the application without further explanation</p> Signup and view all the answers

    Who must complete the Automotive Certification Course in a partnership?

    <p>One partner must complete the course</p> Signup and view all the answers

    What could be a consequence for a dealer not following MVDA requirements?

    <p>They could lose their registration</p> Signup and view all the answers

    If a dealership is registered as a sole proprietorship, who is required to complete the Automotive Certification Course?

    <p>The sole proprietor</p> Signup and view all the answers

    What is required for each dealer operating from shared premises?

    <p>A separate, permanent office space</p> Signup and view all the answers

    What is a requirement for the office space of a General Dealer?

    <p>Must have enough space for six years of records</p> Signup and view all the answers

    What must dealers display in an area for showcasing vehicles?

    <p>Each dealership's name on every vehicle</p> Signup and view all the answers

    How must the premises be distinguished if shared with other businesses?

    <p>By clearly marking the dealership's name</p> Signup and view all the answers

    Which of the following is NOT a requirement for the office space?

    <p>Permanent construction materials</p> Signup and view all the answers

    What is required regarding the location of a dealer's business?

    <p>It must be separate from a dwelling</p> Signup and view all the answers

    What must dealers adhere to regarding their business premises?

    <p>Municipal bylaws and zoning requirements</p> Signup and view all the answers

    To whom can a dealership share its office space?

    <p>With a related business they operate</p> Signup and view all the answers

    What must a dealer do if they need to store records at another location?

    <p>Obtain permission from OMVIC.</p> Signup and view all the answers

    Which of the following documents must be included in a dealer's records?

    <p>Copies of cheques.</p> Signup and view all the answers

    What is the timeframe within which a dealer must inform OMVIC about lost records due to a serious event?

    <p>Within five days.</p> Signup and view all the answers

    What type of records does a fleet lessor not need to keep?

    <p>Cost breakdown for each sale.</p> Signup and view all the answers

    Which statement regarding electronic record-keeping is correct?

    <p>It is optional as per guidelines.</p> Signup and view all the answers

    What is the purpose of the Motor Vehicle Dealers Compensation Fund?

    <p>To cover losses incurred by consumers under specific circumstances</p> Signup and view all the answers

    How many members are on the OMVIC board of directors?

    <p>Nine members</p> Signup and view all the answers

    What document type must be included to show payment evidence in dealer records?

    <p>Worksheets related to sales.</p> Signup and view all the answers

    What should dealers do with paper records after digitizing them?

    <p>Dispose of them securely.</p> Signup and view all the answers

    Which of the following is NOT a responsibility of OMVIC?

    <p>Collecting fees for new vehicle registrations</p> Signup and view all the answers

    When must OMVIC staff be able to access records stored at another location?

    <p>During normal business hours.</p> Signup and view all the answers

    Which regulation is directly related to the ethical operations of vehicle dealers?

    <p>Code of Ethics and Operation of Committees Regulations</p> Signup and view all the answers

    What does OMVIC stand for?

    <p>Ontario Motor Vehicle Industry Council</p> Signup and view all the answers

    What is the source of funding for OMVIC’s operations?

    <p>Transaction Fee Program</p> Signup and view all the answers

    What is a key distinction between the two sets of detailed Regulations under the Motor Vehicle Dealers Act?

    <p>One addresses general rules while the other pertains to ethics and operation</p> Signup and view all the answers

    Which group does NOT have representation on the OMVIC board?

    <p>Local government officials</p> Signup and view all the answers

    What is the main purpose of the Automotive Certification Course in Ontario?

    <p>To ensure that all salespeople are knowledgeable about Ontario's laws and regulations</p> Signup and view all the answers

    How long do students have to complete the Automotive Certification Course?

    <p>12 weeks</p> Signup and view all the answers

    What is the minimum passing grade for the Automotive Certification Test?

    <p>75%</p> Signup and view all the answers

    What type of questions are featured on the Automotive Certification Test?

    <p>Multiple choice questions</p> Signup and view all the answers

    Which of the following statements is true about the Automotive Certification Course?

    <p>It was the first mandatory course for dealers in Canada</p> Signup and view all the answers

    Who developed the Automotive Certification Course in collaboration with OMVIC?

    <p>Georgian College’s Automotive Business School</p> Signup and view all the answers

    What should individuals do if they have questions regarding the Motor Vehicle Dealers Act?

    <p>Consult a lawyer</p> Signup and view all the answers

    What type of review questions are included in the student manual?

    <p>Multiple choice, true-false, and fill in the blank questions</p> Signup and view all the answers

    Study Notes

    OMVIC Certification Course

    • This is a mandatory course for all new car dealers and salespeople in Ontario
    • Course material is divided into 18 chapters with review questions
    • Review questions are various formats (multiple choice, true/false, fill in the blank)
    • Answers for review questions are in Appendix 1
    • The Automotive Certification Test is multiple choice only
    • Students have 12 weeks to complete the course and test
    • Minimum passing grade of 75% is required
    • Registration in this course doesn't automatically register you with OMVIC

    Laws, Regulations and Practices

    • The course material covers the laws and regulations related to selling and/or leasing vehicles in Ontario
    • Students must consult a lawyer for legal advice
    • The student manual is not legal advice

    Student Manual

    • 2024 Edition
    • Published by OMVIC and the Automotive Business School of Canada at Georgian College
    • This handbook covers various topics related to vehicle sales in Ontario
    • The manual details the processes, policies, laws and regulations of automobile transactions in Ontario. This is not legal advice.

    Registration

    • Enrolling in the course does not automatically register you with OMVIC
    • You must apply to OMVIC separately after completing the course
    • Once registered with OMVIC, you can use the "C.A.L.E." designation, which stands for Certified in Automotive Law and Ethics, and receive a certificate as well as a congratulatory letter and industry pin
    • The C.A.L.E. designation builds trust and credibility with consumers

    Fast Facts

    • All new car dealers and salespeople in Ontario are required to complete this course
    • Students have 12 weeks to complete the course and test
    • Minimum passing grade for the test is 75%
    • Individuals must apply to OMVIC for specific dealer or salesperson registration

    Table of Contents

    • The manual includes a detailed table of contents listing all chapters in the manual and the page numbers where each chapter starts
    • The manual is broken down into 18 chapters

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    Related Documents

    Georgian College ACC Textbook 2024 Edition PDF

    Description

    Test your knowledge on key regulations from the Motor Vehicle Dealers Act (MVDA) that apply to automotive dealerships. This quiz covers essential topics such as record-keeping, certification requirements, and consequences for non-compliance. Perfect for current and aspiring auto dealers looking to understand regulatory compliance.

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