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!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If a dealer agrees to pay out a lien on a customer's trade-in, when must the lien be paid out?

Any time prior to reselling the vehicle
Immediately
Within five business days
Within two weeks

The correct answer is: Immediately

The lien must be paid out immediately in order for the dealer to have a clear title to the vehicle before reselling it. Choosing option A would leave the dealer vulnerable to any potential complications that may arise during the reselling process. Option C and D offer timelines that are too lenient and may result in delays or complications for both the dealer and the customer. Therefore, it is best to pay out the lien immediately to ensure a smooth transaction for both parties.