OMVIC Practice Test

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Dive into the OMVIC Practice Test and test your knowledge on laws, regulations, and ethical practices in the automotive industry. Perfect for aspiring dealers and salespersons to validate their expertise!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Extended warranties must be supported by:

Insurance from a licensed company
Security to the Motor Vehicle Dealers Compensation Fund
A signed agreement from the vehicle manufacturer
A notarized statement from the dealer

The correct answer is: Insurance from a licensed company

Extended warranties must be supported by insurance from a licensed company. This means that the warranty provider must have a contract with an insurance company to cover any repair or replacement costs. Option B is incorrect because the Motor Vehicle Dealers Compensation Fund only applies to dealers, not warranty providers. Option C is incorrect because a signed agreement from the vehicle manufacturer is not required for extended warranties. Option D is incorrect because a notarized statement from the dealer does not guarantee the financial support needed for an extended warranty.