👑 VIP Practice Test
OMVIC Trade-Ins, Liens and Vehicle Registration 4 is a VIP-exclusive practice test — only for VIP members.
Question 1👑 VIP
A customer trades in a vehicle with an outstanding lien of $8,400. The dealer agrees to a trade-in allowance of $6,000 and rolls the $2,400 negative equity into the new financing contract without separately disclosing it as negative equity. Under OMVIC's disclosure obligations, this practice is:
Remaining questions and full explanations are VIP-exclusive.