OMVIC Practice Test 2025 – All-In-One Guide to Exam Success!

Question: 1 / 400

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

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.

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