OMVIC Practice Test

What is considered a valid claim against the Motor Vehicle Dealers Compensation Fund?

1. A consumer changes their mind about a purchase

2. A vehicle bought from a dealer was previously stolen and not returned

3. A consumer could buy the same vehicle cheaper elsewhere

4. A dealer refuses to honor a promotional offer after its expiration date

The correct answer is: A vehicle bought from a dealer was previously stolen and not returned

A is incorrect because changing one's mind about a purchase is not a valid claim against the Motor Vehicle Dealers Compensation Fund. This claim falls under the category of buyer's remorse and it is the consumer's responsibility to research and make informed decisions before making a purchase. B is the correct answer because if a vehicle bought from a dealer was previously stolen and not returned, the consumer can file a claim against the Motor Vehicle Dealers Compensation Fund to receive compensation for their loss. This fund protects consumers in cases of fraud or deceptive practices by car dealerships. C is incorrect because the price of a vehicle is not a valid reason to file a claim against the Motor Vehicle Dealers Compensation Fund. Consumers are responsible for researching and comparing prices before making a purchase. D is incorrect because a dealer refusing to honor a promotional offer after its expiration date does not fall under the categories covered by the Motor Vehicle Dealers Compensation Fund. This is