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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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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OMVIC can refuse, revoke or suspend registration if the financial responsibility or past conduct of an "interested person" concerns them. Who might be considered an "interested person"?

  1. A person with beneficial interest in the business

  2. A random customer

  3. A salesperson only

  4. The janitor

The correct answer is: A person with beneficial interest in the business

An "interested person" is someone who holds a beneficial interest in the business, meaning they have a financial stake or ownership in the company. This can include shareholders, directors, and officers. Options B, C, and D are not considered "interested persons" as they do not have a direct financial interest in the business. Therefore, they would not be grounds for refusal, revocation, or suspension of registration.

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