OMVIC Practice Test 2025 – Complete Exam Prep Guide

The cooling-off period refers to the time frame in which a customer can change their mind about a purchase and cancel the contract without any penalty. In the context of vehicle purchases from registered dealers, there is no legally mandated cooling-off period. This means that once a customer signs a contract to purchase a vehicle, they are bound to it and cannot simply change their mind and cancel the purchase without facing potential penalties.

Options A, B, and C are incorrect because they suggest specific time frames for a cooling-off period, which is not applicable in the scenario of purchasing a vehicle from a registered dealer. Furthermore, these options may lead to confusion or misinformation as there is no set time frame for a cooling-off period. It is important for customers to understand their rights and the terms of a contract before entering into any purchase agreement.