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 an "as is" sale include in the contract?

Must include a specific definition of "as is" in the contract
Must include a statement about warranty coverage
Must include a clause for free servicing
Must include a provision for unlimited returns

The correct answer is: Must include a specific definition of "as is" in the contract

An "as is" sale refers to a sale where the property or item is sold in its current condition, without any guarantees or warranties from the seller. It also means that the buyer must accept the property or item in its current state, with any faults or defects. Therefore, the contract must include a specific definition of "as is" to ensure that both parties are clear on the terms of the sale. Option B is incorrect because an "as is" sale explicitly waives any warranty coverage. Option C is incorrect because a clause for free servicing would contradict the "as is" agreement. Option D is incorrect because an "as is" sale does not allow for any returns, let alone unlimited returns.