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 be included concerning OMVIC/Compensation Fund on the contract?

A drawing of the OMVIC logo
Important Information statement in 14 pt. bold font
A list of all OMVIC employees
A detailed history of OMVIC

The correct answer is: Important Information statement in 14 pt. bold font

On the contract, you must include the Important Information statement in 14 pt. bold font regarding OMVIC/Compensation Fund. This statement provides important information about OMVIC's role in regulating motor vehicle sales in Ontario, and the Compensation Fund that protects consumers in case of dealer fraud or failure to disclose. Including a drawing of the OMVIC logo (A), a list of all OMVIC employees (C), or a detailed history of OMVIC (D) is not necessary and would not fulfill the requirement to include the Important Information statement.