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 the Compensation Fund available to all customers, or only customers who are considered "consumers"?

All customers
Customers who are corporations
Customers who are considered "consumers"
Customers acting for business purposes

The correct answer is: Customers who are considered "consumers"

The Compensation Fund is available to customers who are considered "consumers". This means that if a customer purchases a product or service for personal use, then they are protected by the Compensation Fund. Customers who are corporations or acting for business purposes are not considered "consumers" and are therefore not eligible for coverage from the Compensation Fund. It is important to note that the Compensation Fund is specifically designed to protect individual consumers, not businesses or corporations.