OMVIC Practice Test

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Prepare for the OMVIC Certification Test with practice questions that include hints and detailed explanations. Enhance your learning with flashcards and multiple choice questions. Get ready to pass your OMVIC Test with confidence!

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Choose the most correct answer. An "as is" sale...

Is not legal to a "consumer"
Does not require the buyer to initial the words "as is"
Must have the buyer write an explanation of "as is"
Must include a specific definition of "as is" in the contract

The correct answer is: Must include a specific definition of "as is" in the contract

An "as is" sale means that the buyer is purchasing the item in its current condition without any guarantees from the seller. Option A is incorrect because "as is" sales are legal for both consumers and businesses. Option B is also incorrect because the buyer does not need to initial the words "as is" for the sale to be valid. Option C is incorrect because the buyer does not need to write an explanation of "as is" in the contract. Option D is the most correct because including a specific definition of "as is" in the contract clarifies the terms of the sale for both the buyer and seller.