OMVIC Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

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: OMVIC must notify a dealer before issuing an order to freeze their assets or trust funds.

True
False

The correct answer is: False

OMVIC must not notify a dealer before issuing an order to freeze their assets or trust funds. This is because the dealer may attempt to hide or move their assets, which would defeat the purpose of the order. The order is meant to protect consumers and ensure that the dealer's assets are available to address any complaints or claims against them. Therefore, it is important for OMVIC to be able to act swiftly and without warning in these situations.