OMVIC Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

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 be disclosed in contracts of sale and lease between dealers for used vehicles?

The dealer’s personal opinion of the vehicle
Only the make and model of the vehicle
The total distance the vehicle has been driven
The dealer’s profit margin

The correct answer is: The total distance the vehicle has been driven

In contracts of sale and lease between dealers for used vehicles, it is important to disclose the total distance the vehicle has been driven. This is necessary for prospective buyers to accurately assess the condition and value of the vehicle. Option A is incorrect because a dealer's personal opinion may not be objective or factual. Option B is incorrect because it does not provide enough information about the vehicle. Option D is incorrect because a dealer's profit margin is not relevant to the condition or history of the vehicle. Therefore, option C is the most necessary and relevant piece of information to be disclosed in these types of contracts.