OMVIC Practice Test 2026 - Free OMVIC Practice Questions and Study Guide

Get more with Examzify Plus

Remove ads, unlock favorites, save progress, and access premium tools across devices.

FavoritesSave progressAd-free
From $9.99Learn more

1 / 400

True or False: Before issuing a freeze order (freezing the dealer's assets or trust funds), OMVIC must first notify the dealer.

True

False

OMVIC does not need to notify the dealer before issuing a freeze order. According to the regulations, OMVIC has the authority to issue a freeze order without any prior notice to the dealer in order to protect consumers and the public interest. This is to ensure that the dealer does not dissipate or transfer any assets or trust funds while investigations are ongoing. Therefore, option A is incorrect.

Get further explanation with Examzify DeepDiveBeta
Next Question
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy