TICO 2024 QUESTIONS WITH COMPLETE SOLUTIONS PASSED AND VERIFIED

What is the Corporate structure of TICO ? - CORRECT ANSWER Non-profit TICO is an authority of which Ontario government? - CORRECT ANSWER Ministry of Small business and Consumer Services TICO is financed by? - CORRECT ANSWER Registrants Which is NOT a TICO Board Committee? - CORRECT ANSWER Investments TICO's key stakeholders are: - CORRECT ANSWER Registrants, Consumers, Ontario Government TICO administers the: - CORRECT ANSWER The travel Industry Act, 2002 and Ontario Regulation 26/05 How many provinces have travel legislation? - CORRECT ANSWER 3 A condition for a new TICO registration for a travel agency is - CORRECT ANSWER Security deposit of 10,000 What type of accounting must TICO travel agencies implement ? - CORRECT ANSWER Trust accounting Which consumer is protected by TICO regulations - CORRECT ANSWER Any consumer who buys travel from a TICO registered travel agency A written representation may exclude the TICO registration number - CORRECT ANSWER If there are time and space limitations Which is not an acceptable price representation - CORRECT ANSWER total prices less all taxes and charges Which type of insurance must always be offered? - CORRECT ANSWER Trip cancellation insurance What fact about accommodation must be disclosed - CORRECT ANSWER Standards not always the same as in Canada what advertising is considered to be misleading, TICO may - CORRECT ANSWER All of the above a. Order the agency to cease advertising b. Order the agency to retract advertising c.Order the agency to issue a correction to the advertising Micheal Wilson purchased a trip from his TICO registered travel agency. Prior to departure, the dates for the trip are no longer going to be operated. The agency must: - CORRECT ANSWER Offer the option of a full refund or similar alternative arrangements What must be included on the traveler's invoice? - CORRECT ANSWER The name of the Traveler's spouse when available