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.

Who may attend and bid at wholesale vehicle auctions?

Anyone interested in purchasing a vehicle
Only the general public
Registered dealers and dealers registered in another jurisdiction
Specifically invited guests only

The correct answer is: Registered dealers and dealers registered in another jurisdiction

Wholesale vehicle auctions are only open to registered dealers and dealers registered in another jurisdiction. This is because these auctions are primarily for selling vehicles in bulk to dealerships or other businesses, rather than individual purchases by the general public. Registered dealers are more knowledgeable about the market, and have the necessary licenses and permits to make these types of purchases. Option A, anyone interested in purchasing a vehicle, is incorrect because the auctions are not open to the general public. Option B, only the general public, is incorrect because wholesale auctions are not open to the general public. Option D, specifically invited guests only, is incorrect because while some auctions may have limited invitations, they are primarily open to registered dealers.