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!

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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.

OMVIC considers an "interested person" to be:

  1. a. someone who has given or may have given financing (directly or indirectly) to the business

  2. b. someone who may inherit the business

  3. c. someone the dealer has taken a loan from

  4. d. All of the above

The correct answer is: a. someone who has given or may have given financing (directly or indirectly) to the business

OMVIC considers an "interested person" to be someone who has given or may have given financing (directly or indirectly) to the business. The other options (B, C, D) are incorrect because they do not directly relate to financing or potential financing. Option B mentions inheritance, which does not necessarily involve financing. Option C mentions taking a loan, which does not necessarily mean the person is "interested" in the business. Option D includes all of the options, but this is not an accurate definition of an "interested person." Therefore, the most accurate answer is A.

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