OMVIC CHAPTER 5 QUESTIONS WITH ANSWERS 2023-2024 [PRACTICE EXAM]

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OMVIC CHAPTER 5 QUESTIONS WITH ANSWERS 2023-2024 [PRACTICE EXAM] 1. List three "previous uses of a vehicle" dealers must disclose. 2. List three types of incident damage that must be dis- closed. ... 3. True or False: Dealer A buys from a daily rental com- pany a car previously used in the rental fleet. Dealer A then sells the car (giving full disclosure of the car's history as a daily rental) to a consumer who buys it for personal use. A year later, the consumer trades that car in to Dealer B. Dealer B does a history search and sees the car was once a daily rental. Under Regulation 42 of the MVDA, when Dealer B sells this car to another customer they are not required to inform the customer of the car's previous use as a daily rental. 4. True or False: If a vehicle was declared a total loss in a collision, but has since been repaired and received a structural safety certificate and a Safety Standards Certificate (SSC) from an authorized repair centre, the dealer does not need to notify a purchaser of the previous damage. Taxi, Limo, Police vehicle... Fire, Flood, Colli- sion damage more than $3000 True False 5. Which of the following must be disclosed? The replacement of two or more ad- jacent body panels (excluding bumper covers) 6. Dealers must disclose known damage repairs in ex- cess of: 7. True or False: A dealer does not have to inform a purchaser that a vehicle's manufacturer's warranty has been cancelled, so long $3000 False as the dealer offers or sells the purchaser an extended warranty 8. True or False: If a dealer knows the odometer of a vehicle is inaccurate, and cannot provide any indication of what the true mileage might be, they must write on the contract "TMU" (which stands for "true mileage unknown"). 9. Which of the following must be disclosed (select all that apply)? 10. Disclosure must be provided in a timely manner, in writing, and be presented in a way that is: [Show More]

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