OMVIC Practice Test

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Prepare for the OMVIC Practice Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your OMVIC exam!

Practice this question and more.

Check any statement that is correct: A contract for sale or lease of a vehicle between dealers:

Is subject to the provisions of the Consumer Protection Act
Must disclose a statement as to whether CAMVAP is available
Must disclose exactly the same information required in the sale of a vehicle to a purchaser who is a consumer
Must disclose specific information to comply with the Code of Ethics Regulations

The correct answer is: Must disclose specific information to comply with the Code of Ethics Regulations

A Incorrect - A contract for sale or lease of a vehicle between dealers is not subject to the provisions of the Consumer Protection Act. That act applies to transactions between a dealer and a consumer. B: Incorrect - While CAMVAP may be available in this type of contract, it is not required to be disclosed. C: Incorrect - While some information may be similar, a contract between dealers does not have to disclose the same information as a sale to a consumer. Different regulations may apply. D: Correct - A contract for sale or lease of a vehicle between dealers must disclose specific information to comply with the Code of Ethics Regulations. This includes providing a statement of disclosures about the vehicle's history, warranty information, and any potential defects or issues.