OMVIC Practice Test

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Prepare for the OMVIC exam with our comprehensive quiz. Test your knowledge with multiple-choice questions designed to emphasize key concepts in Ontario's motor vehicle industry regulations and responsibilities of dealership representatives. Get ready to ace your exam!

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.

If a customer includes financing approval as a condition in their contract, what are they seeking?

Approval for a loan to purchase the vehicle
Approval for the vehicle’s color
Approval for vehicle customization
Approval from the insurance company

The correct answer is: Approval for a loan to purchase the vehicle

By including financing approval as a condition in their contract, the customer is seeking approval for a loan to purchase the vehicle. This means they want to ensure that they are able to secure the necessary funding in order to purchase the vehicle. The other options, such as approval for the vehicle's color or customization, would pertain to the physical features of the vehicle and would not be included as a condition in the contract. Additionally, approval from the insurance company would pertain to insurance coverage for the vehicle and would not be relevant to the customer's financing needs.