OMVIC Practice Test

What is the purpose of the OMVIC Code of Ethics?

1. To define the roles of consumers in vehicle sales

2. To establish professional standards and ethical practices for dealers and salespersons

3. To provide a marketing strategy for dealerships

4. To outline vehicle depreciation rates

The correct answer is: To establish professional standards and ethical practices for dealers and salespersons

The purpose of the OMVIC Code of Ethics is to establish professional standards and ethical practices for dealers and salespersons. This code is designed to promote integrity and professionalism within the automotive sales industry, ensuring that all transactions are conducted fairly, honestly, and transparently. Adhering to these ethical guidelines helps protect both consumers and dealers, creating a more trustworthy marketplace. The focus on ethical practices includes the necessity for dealers and salespersons to be truthful about vehicle conditions, history, and pricing, which fosters consumer confidence and contributes to a healthier industry reputation. By emphasizing professional standards, the OMVIC Code of Ethics seeks to guide attendees in making ethical decisions that benefit all parties involved in the vehicle sales process.