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.

What role does OMVIC play in administering the Compensation Fund?

Administrates the Compensation Fund
Collects funds for the Compensation Fund
None
Oversees claims for the Compensation Fund

The correct answer is: Administrates the Compensation Fund

OMVIC plays the role of administering the Compensation Fund, meaning they are in charge of managing and supervising the fund. This includes making sure that claims are properly handled, funds are collected and distributed, and all necessary administrative tasks are completed. Option B is incorrect because OMVIC does not simply collect funds for the Compensation Fund, they have a much more involved role in its management. Option C is also incorrect as OMVIC does play a role in administering the fund. Option D is incorrect because OMVIC is not just overseeing claims, but rather fully administering the Compensation Fund.