Omvic Greasy Dealer 187 Correctly Answered Questions Latest Update

Dealers are required to disclose all the information set out below (a - f); however, rescission is only granted automatically for failing to disclose three of them. Which are they? a) The make, model and model year of the vehicle b) The vehicle is missing airbags c) The vehicle was previously a taxi or limo d) The vehicle's manufacturer's warranty has been cancelled e) The vehicle has been branded f) The vehicle was involved in a collision {Ans: a,c,e}Is it possible for more than one party to hold a lien on the same vehicle? {Ans: Yes}True or False: If a consumer defaults on a loan/payment schedule but has paid off more than two-thirds of the total purchase price, the dealer must get permission from the court to repossess the vehicle. {Ans: t}How much does each salesperson pay into the Fund? {Ans: nothing}List five pieces of information that must be on all repair invoices. {Ans: Any five from 14.05}True or False: The inspector cannot remove anything from the dealer without the dealer's permission or a warrant. {Ans: f}