TICO - Travel Industry Council of Ontario Compliance and Enforcement Questions and Answers

Question 1

A TICO inspector arrives at a registered travel agency to conduct an inspection. The agency manager must ensure that the inspector is given:

Accepted Answer

Prompt access to all records, documents, and computers as required.

Answer

A copy of the agency's most recent marketing materials only.

Answer

Access to client booking files but not financial records.

Answer

A verbal summary of the agency's financial standing.

Question 2

An individual is convicted in court of operating as a travel agent without being registered with TICO. Under the Travel Industry Act, 2002, what is the maximum penalty this individual faces?

Accepted Answer

A fine of up to $50,000 and/or imprisonment for up to two years less a day.

Answer

A fine of up to $10,000 and a one-year probation.

Answer

A fine of up to $250,000.

Answer

Mandatory industry-specific education and community service.

Question 3

The TICO Registrar issues a 'Proposal to Revoke Registration' to a travel agency. The agency owner wishes to dispute this action. What is the owner's immediate formal right of recourse?

Accepted Answer

To request a hearing before the Licence Appeal Tribunal (LAT).

Answer

To publish a public statement disagreeing with the Registrar.

Answer

To request a new inspection by a different TICO official.

Answer

To appeal directly to the Minister of Public and Business Service Delivery.

Question 4

A travel agent receives a $3,000 e-transfer from a client on Friday for a vacation package. According to the trust accounting rules in Ontario Regulation 26/05, what is the latest the agent must ensure this money is deposited into the agency's trust account?

Accepted Answer

Within 2 banking days.

Answer

By the end of the day on Friday.

Answer

Within 5 business days.

Answer

Before the final payment is due to the supplier.

Question 5

Which of the following actions can the Discipline Committee take if it finds a TICO registrant guilty of misconduct?

Accepted Answer

Require the registrant to successfully complete educational courses.

Answer

Order the registrant to pay restitution to all affected clients.

Answer

Order the registrant's business to be sold to another TICO registrant.

Answer

Sentence the individual owner to a term of imprisonment.

Question 6

According to Ontario Regulation 26/05, what is the minimum period for which a travel agent must retain business records, such as invoices and bank statements related to the trust account?

Accepted Answer

6 years after the end of the fiscal year to which the records relate.

Answer

2 years after the date of the transaction.

Answer

3 years after the client has returned from their trip.

Answer

Indefinitely, for the life of the business.

A TICO inspector arrives at a registered travel agency to conduct an inspection.The agency manager must ensure that the inspector is given:

A TICO inspector arrives at a registered travel agency to conduct an inspection.
The agency manager must ensure that the inspector is given: