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.

True or false: If the Discipline Panel decides that a dealer or salesperson broke the Code of Ethics, they can order the dealer or salesperson to pay a fine of up to $10,000.

False
True
Not specified
Varies by offense

The correct answer is: False

The correct answer is A because the Discipline Panel can only order the dealer or salesperson to pay a fine of up to $5,000, not $10,000. This is specified in the Real Estate and Business Brokers Act, which sets the maximum fine at $5,000. Options B, C, and D are incorrect because they do not reflect this specific limitation on the fine amount. Option B is false because the $10,000 limit is not specified in the Act. Option C is incorrect because the Act clearly sets the maximum fine at $5,000. Option D is incorrect because while the maximum fine may vary for different offenses, the specific limit of $5,000 is still stated in the Act.