OMVIC Practice Test

Dealers must disclose known damage repairs in excess of:

1. $2,000

2. $3,000

3. $5,000

4. $10,000

The correct answer is: $3,000

Dealers are required to disclose known damage repairs to the buyer before purchase. This is to protect the buyer's rights and ensure transparency in the transaction. While repairs in excess of $2,000, $5,000, and $10,000 may also be significant, the specific amount mentioned in option B is the correct and most accurate answer. This ensures that any repairs costing more than $3,000 are disclosed, allowing the buyer to make an informed decision. Options A, C, and D are incorrect because they do not accurately reflect the legal requirement, which is why B is the correct answer.