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 party is responsible for remitting the Transaction Fee to OMVIC?

Registered salespeople
Registered dealers
Both dealers and salespeople
Customers

The correct answer is: Registered dealers

Registered dealers are responsible for remitting the Transaction Fee to OMVIC, not registered salespeople or customers. This fee is a cost of doing business for dealers and covers the cost of licensing, registrations, consumer protection and enforcement of regulations. Registered salespeople are only responsible for remitting their own registration fees to OMVIC. Customers are not responsible for remitting any fees to OMVIC.