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.

What actions are required of a dealer if the Motor Vehicle Dealers Compensation Fund pays a claim on their behalf?

No action is required
Issue a formal apology to the consumer
Reimburse the Fund or risk losing registration
Attend a vehicle sales training course

The correct answer is: Reimburse the Fund or risk losing registration

If the Motor Vehicle Dealers Compensation Fund pays a claim on their behalf, the dealer is required to reimburse the fund to avoid the risk of losing their registration. This is because the fund acts as a safety net for consumers who have been harmed by a dealer's actions. By reimbursing the fund, the dealer is taking responsibility for their actions and ensuring that the fund can continue to protect consumers. No action is not a correct choice because the dealer does have a responsibility to reimburse the fund. Issuing a formal apology to the consumer may be a good ethical choice, but it is not a requirement outlined by the fund. Attending a vehicle sales training course may improve the dealer's sales skills, but it is not a specific action required by the fund in this scenario.