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.

True or False: In dealer-to-dealer transactions, the following disclosure is not required as it is for retail transactions only - any fact about the vehicle that affects the structural or mechanical quality or performance of the vehicle that, if disclosed, could reasonably be expected to influence the decision of a reasonable buyer or lessee to buy or lease the vehicle.

False
True

The correct answer is: False

In dealer-to-dealer transactions, certain disclosures are still required for the protection of the buyer. These disclosures pertain to any information about the vehicle that could potentially influence a reasonable buyer's decision to buy or lease the vehicle. This includes any factors that could affect the structural or mechanical quality or performance of the vehicle. Therefore, the statement in the question is false and the correct answer is A. Option B is incorrect because it suggests that the statement is true and no disclosure is necessary in dealer-to-dealer transactions, which as explained above is not the case.