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.

If a customer gives a deposit but doesn't sign a contract, what right does the customer have?

The right to alter the transaction at any time
No additional rights without a signed contract
The right to demand a trade-in or deposit refund
The option to proceed with an unsigned contract

The correct answer is: The right to demand a trade-in or deposit refund

If a customer gives a deposit but doesn't sign a contract, they do not have the right to alter the transaction as they have not signed any agreement. Option A is incorrect because a deposit does not give the customer the ability to change the terms of the transaction without a signed contract. Option B is incorrect because although the customer does not have additional rights without a signed contract, they do have rights to their deposit and any potential trade-in. Option D is incorrect because an unsigned contract is not legally binding and the customer cannot proceed with it. Therefore, option C is the only correct choice as it accurately reflects the customer's rights in this situation.