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 must a vehicle lease advertisement disclose?

The name of the leasing company only
Length of the lease, monthly payment amount, and any payments to be made at the beginning of the lease
Only the amount of the monthly payment
Annual mileage limits and penalties only

The correct answer is: Length of the lease, monthly payment amount, and any payments to be made at the beginning of the lease

A vehicle lease advertisement must disclose more than just the name of the leasing company. It must also include the length of the lease, monthly payment amount, and any payments to be made at the beginning of the lease in order to provide potential customers with a clear understanding of the financial commitment. Option C may seem attractive to advertisers as it only discloses the monthly payment amount, but it fails to provide the full picture of the lease terms. Option D only includes annual mileage limits and penalties, which do not give a comprehensive overview of the lease terms and may mislead potential customers. Therefore, option B is the most accurate and complete answer.