OMVIC Practice Test 2025 - Free OMVIC Practice Questions and Study Guide

Question: 1 / 400

Is the Compensation Fund available to all customers, or only customers who are considered "consumers"?

All customers

Customers who are corporations

Customers who are considered "consumers"

The Compensation Fund is available to customers who are considered "consumers". This means that if a customer purchases a product or service for personal use, then they are protected by the Compensation Fund. Customers who are corporations or acting for business purposes are not considered "consumers" and are therefore not eligible for coverage from the Compensation Fund. It is important to note that the Compensation Fund is specifically designed to protect individual consumers, not businesses or corporations.

Get further explanation with Examzify DeepDiveBeta

Customers acting for business purposes

Next Question

Report this question

Download OMVIC License Practice Test & Course – Prepare for the OMVIC Exam in Ontario PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy