TICO Ontario Regulation 26/05 2

Question 1

Ontario Regulation 26/05 was made under which Ontario statute?

Accepted Answer

The Travel Industry Act, 2002

Answer

Ontario Regulation 26/05 is a regulation made under the authority of the Travel Industry Act, 2002 and provides the detailed rules implementing the Act.

Question 2

Under Ontario Regulation 26/05, what must the balance in a travel agency's designated trust account always equal?

Accepted Answer

An amount equal to all client funds received that have not yet been remitted to suppliers or earned as the agent's commission

Answer

The trust account must hold all client funds received that have not yet been paid to suppliers or otherwise properly disbursed. The balance must match the outstanding client obligations.

Question 3

Under Ontario Regulation 26/05, which of the following is a prohibited trade practice for travel registrants?

Accepted Answer

Charging an undisclosed fee that was not disclosed before the client made payment

Answer

Charging any fee that was not disclosed to the client in writing before payment is a prohibited trade practice under Ontario Regulation 26/05.

Question 4

Ontario Regulation 26/05 requires a travel agent to have a written booking confirmation with the consumer. When must this document be provided?

Accepted Answer

Before or at the time of final payment

Answer

Under Ontario Regulation 26/05, the written booking confirmation must be provided to the consumer before or at the time of making final payment.

Question 5

Under Ontario Regulation 26/05, which records must a travel registrant maintain in their files?

Accepted Answer

Written confirmation of all travel services purchased, trust account records, and records of all complaints received

Answer

Registrants must maintain comprehensive records including booking confirmations, trust account records, and complaint records for a minimum of seven years.

TICO - Travel Industry Council of Ontario Practice Test

TICO - Travel Industry Council of Ontario Practice Test

TICO Ontario Regulation 26/05 2