OMVIC Practice Test

What disclosure is required for a vehicle sold with a known faulty odometer?

1. A disclaimer on the contract that the odometer reading may not be accurate

2. A statement providing an estimate of the true mileage

3. An advice to consult a mechanic for an accurate reading

4. No specific disclosure is required

The correct answer is: A disclaimer on the contract that the odometer reading may not be accurate

A disclaimer on the contract that the odometer reading may not be accurate is the correct answer because it is a legal requirement for the seller to disclose a known issue with the odometer. This disclaimer would inform the buyer that the odometer may not accurately reflect the actual mileage of the vehicle. Option B, providing an estimate of the true mileage, is incorrect because it does not fully disclose the known issue with the odometer. It may also mislead the buyer into thinking that the mileage provided is accurate. Option C, advising the buyer to consult a mechanic, is incorrect because it does not legally disclose the issue to the buyer. It puts the responsibility on the buyer to seek out more information rather than the seller providing full disclosure. Option D, stating that no specific disclosure is required, is incorrect because it goes against the legal requirement for the seller to disclose known issues with the vehicle