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!

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: If the Discipline Panel decides that a dealer or salesperson failed to comply with the Code of Ethics Regulations, the committee may impose a maximum fine of $10,000.

False
True

The correct answer is: False

One possible explanation The correct answer is actually False. These committees may impose maximum fines of $15,000. Additionally, The Discipline Panel is responsible for imposing fines, not the committee. A committee's responsibility is to decide the outcome. The question appears to have some out-of-date information that should be updated in order to avoid confusion.