OMVIC Practice Test

Image Description

Question: 1 / 400

Under the Code of Ethics Regulations, a dealer or salesperson indicating OMVIC has set or approved any payment or commission is considered?

Acceptable practice

A financial strategy

Prohibited

This statement is meant to prevent dealerships or salespeople from falsely misleading or illegally charging customers fees. If a dealer or salesperson claims that OMVIC has approved or set a payment or commission, it is considered prohibited because OMVIC does not have the authority to dictate such terms. Options A, B, and D are incorrect because they do not align with the Code of Ethics Regulations and would therefore not be considered acceptable, recommended, or a financial strategy.

Get further explanation with Examzify DeepDiveBeta

Recommended

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy