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 pays into the Motor Vehicle Dealers Compensation Fund?

Salespeople only
General Dealers and Brokers
Customers and consumers
Vehicle manufacturers

The correct answer is: General Dealers and Brokers

The general dealers and brokers are the ones that are required to pay into the Motor Vehicle Dealers Compensation Fund, as stated in the Motor Vehicle Act. This is because they are responsible for selling vehicles to customers and need to ensure that they are providing safe and reliable vehicles. The other options listed are incorrect because salespeople would not have the financial means to contribute to the fund, customers and consumers are the recipients of the fund, and vehicle manufacturers are not responsible for the actions of the dealers and brokers.