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 information must a warranty contract include regarding deductibles?

A fixed percentage of the repair cost
The exact amount
A variable amount decided by the dealer
No information on deductibles is required

The correct answer is: The exact amount

A warranty contract is a legally binding agreement between the seller and buyer of a product, and it typically includes information about coverage and limitations. In terms of deductibles, the contract should clearly state the exact amount that the buyer will be responsible for paying before the warranty coverage kicks in. Options A and C are incorrect because they do not provide a specific amount, which could lead to confusion or potential disputes between the buyer and seller. Option D is also incorrect because although it is possible that a contract may not have any information on deductibles, it is not a requirement and would likely be uncommon. Therefore, the most accurate and complete answer is option B, as it specifies the specific amount that the buyer must pay.