Final answer:
The statement is true; dealers must pay a $10 Transaction Fee to OMVIC for each vehicle sold or leased retail.
Step-by-step explanation:
The statement that under the Transaction Fee Program, dealers are required to remit $10 (to OMVIC) for each retail vehicle sold or leased is True. OMVIC, the Ontario Motor Vehicle Industry Council, administers this program as part of their mandate to provide consumer protection and regulate motor vehicle sales in Ontario. This fee helps fund the council's activities, including enforcement of sales regulations and the Motor Vehicle Dealers Compensation Fund. Dealers must remit this fee for every retail sale or lease of a vehicle, contributing to the regulatory framework within the automotive industry in Ontario.