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!

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Is it possible for more than one party to hold a lien on the same vehicle?

No
Only if it is a government lien
Only under special circumstances
Yes

The correct answer is: Yes

It is possible for more than one party to hold a lien on the same vehicle. This can occur if the vehicle owner has taken out multiple loans using the vehicle as collateral, or if there is a joint ownership of the vehicle and each owner has a lien attached to their portion. Options A, B, and C are incorrect because they all restrict the possibility of multiple liens on a vehicle. Option A is incorrect because it states that it is not possible, option B is incorrect because it limits it to government liens, and option C is incorrect because it implies that it is possible under very specific circumstances. It is important to note that having multiple liens on a vehicle can complicate matters if the owner falls behind on their payments or if the vehicle needs to be sold.