Agent and Wholesaler Disclosures Flashcards
6 cards from real TICO practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Agent and Wholesaler Disclosures flashcards as text
Under TICO's standards, what information must a travel agent provide to a client before a travel booking is confirmed?
Answer: A description of all components, total price including taxes and fees, payment and cancellation conditions, and the agent's TICO registration number
Before confirming a booking, agents must provide a comprehensive written disclosure covering all components, total all-inclusive price, cancellation policies, and registration details.
What is the travel wholesaler's disclosure obligation regarding the terms and conditions of a package they create?
Answer: The wholesaler must ensure that all material terms and conditions are provided to retail agents in writing so they can disclose them to consumers
Wholesalers must provide agents with all material terms and conditions in writing so that agents can fulfill their own disclosure obligations to consumers.
When a travel agent receives a commission or incentive from a travel supplier, when must this be disclosed to the client under TICO standards?
Answer: When the commission or incentive could influence the agent's recommendation, and if the client asks
TICO standards require disclosure of commissions or incentives when they could influence the agent's recommendation, particularly when a client asks about the agent's remuneration.
A client is booking a package that includes a cruise line not registered with TICO. Under TICO's standards, the agent must:
Answer: Advise the client in writing before payment that the cruise line is not TICO-registered and that Travel Compensation Fund coverage may not apply
Agents must disclose in writing before payment that the cruise line is not TICO-registered and explain the implications for Travel Compensation Fund coverage.
Under TICO's standards, what must a travel agent disclose regarding travel insurance?
Answer: That travel insurance is available, the types of coverage offered, and that the client has the right to review the policy before purchasing
Agents must proactively inform clients that travel insurance is available, describe the types of coverage, and confirm the client can review the policy before committing.
Which of the following situations requires a travel agent to provide an updated written disclosure to a client who has already received initial booking disclosures?
Answer: A material change to the travel itinerary or pricing that occurs after the initial booking
Material changes — such as significant price increases, itinerary modifications, or service changes — require updated written disclosure so the client can make an informed decision about proceeding.