OMVIC Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

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.

True or False: At a wholesale auction, dealers may be accompanied by a customer so long as the customer bids only through the dealer.

False
True

The correct answer is: False

The assertion indicates that dealers can bring customers to a wholesale auction, but it specifies that customers should only bid through the dealer. This understanding aligns with industry practices, as wholesale auctions are generally conducted exclusively for licensed dealers, not consumers. Dealers are authorized to represent their clients in the bidding process, which means that customers who attend must not engage in direct bidding themselves. The integrity of the auction process relies on licensed dealers maintaining their status among other dealers, who also must adhere to the auction's regulations. Hence, allowing customers to bid independently—even through a dealer—could lead to confusion and potential breaches of the auction's standards. In this context, the statement is false. Only dealers are permitted to represent themselves in the bidding process, ensuring a streamlined and regulated auction environment.