OMVIC Practice Test

Question: 1 / 400

What actions are required of a dealer if the Motor Vehicle Dealers Compensation Fund pays a claim on their behalf?

No action is required

Issue a formal apology to the consumer

Reimburse the Fund or risk losing registration

If the Motor Vehicle Dealers Compensation Fund pays a claim on their behalf, the dealer is required to reimburse the fund to avoid the risk of losing their registration. This is because the fund acts as a safety net for consumers who have been harmed by a dealer's actions. By reimbursing the fund, the dealer is taking responsibility for their actions and ensuring that the fund can continue to protect consumers. No action is not a correct choice because the dealer does have a responsibility to reimburse the fund. Issuing a formal apology to the consumer may be a good ethical choice, but it is not a requirement outlined by the fund. Attending a vehicle sales training course may improve the dealer's sales skills, but it is not a specific action required by the fund in this scenario.

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Attend a vehicle sales training course

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