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.

In the event of re-selling a vehicle with an extended warranty, what must be disclosed?

The original purchase price of the warranty
Whether the warranty is transferable and for what fee
The original purchaser's information
The salesperson's registration number

The correct answer is: Whether the warranty is transferable and for what fee

When reselling a vehicle with an extended warranty, it is important to disclose whether or not the warranty is transferable and if there is a fee associated with the transfer. This is important information for the buyer to know, as they will need to understand if they will be able to benefit from the existing warranty or if they will need to purchase a new one. Option A, the original purchase price of the warranty, is not required to be disclosed as it is not relevant to the buyer's decision to purchase the vehicle. Option C, the original purchaser's information, is also not required to be disclosed as it is not relevant to the buyer of the vehicle. Option D, the salesperson's registration number, is also not required to be disclosed as it is not relevant to the transfer of the warranty.