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.

How is the Transaction Fee Program fee collected?

Monthly
Quarterly
Semi-annually
Annually

The correct answer is: Annually

The Transaction Fee Program fee is collected on an annual basis. This means that the fee is charged once a year. Options A, B, and C are incorrect because they refer to a collection period that is more frequent than annually. Monthly, quarterly, and semi-annually all indicate a collection period that occurs on a monthly, quarterly, or semi-annual basis respectively. Hence, these options are not correct as they do not align with the correct answer of annually.