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.

Which of the following transactions is exempt from the Transaction Fee Program?

Selling a vehicle to an unregistered dealer
Leasing a vehicle directly to a consumer
Selling a vehicle directly to another registered dealer
Selling a personal vehicle

The correct answer is: Selling a vehicle directly to another registered dealer

Selling a vehicle directly to another registered dealer is exempt from the Transaction Fee Program because it does not involve a direct transaction with a consumer. The program only applies to sales or leases of vehicles to consumers and not between registered dealers. Option A, selling a vehicle to an unregistered dealer, is incorrect because it does not involve a direct transaction with a consumer and therefore is not subject to the Transaction Fee Program. Option B, leasing a vehicle directly to a consumer, is incorrect because leasing is still considered a transaction with a consumer and is subject to the program. Option D, selling a personal vehicle, is incorrect because it involves a direct transaction with a consumer and is therefore subject to the Transaction Fee Program.