TICO Travel Industry Act, 2002 5

Question 1

Under the Travel Industry Act, 2002, which scenario would result in an automatic revocation of a travel agent's registration?

Accepted Answer

Being convicted of fraud related to travel services

Answer

A conviction for fraud related to travel services can lead to automatic revocation of registration under the Act.

Question 2

What is the purpose of the Travel Industry Compensation Fund administered under the Travel Industry Act, 2002?

Accepted Answer

To compensate consumers who suffer financial loss due to a registrant's bankruptcy or fraud

Answer

The Compensation Fund protects consumers by reimbursing them for financial losses caused by a registered travel agent's insolvency or fraudulent conduct.

Question 3

A consumer cancels a trip 48 hours before departure. The travel agent says no refund is available. Under the Travel Industry Act, 2002, what must the agent provide?

Accepted Answer

A written explanation of why no refund is available under the contract terms

Answer

Even when a refund is not owed, the agent must provide a written explanation citing the specific contract terms that apply.

Question 4

Under the Travel Industry Act, 2002, how long must a registrant retain consumer transaction records?

Accepted Answer

3 years

Answer

Registrants are required to keep consumer transaction records for a minimum of 3 years.

Question 5

Which of the following individuals is exempt from registration under the Travel Industry Act, 2002?

Accepted Answer

An airline selling only its own flights directly to consumers

Answer

Airlines and other carriers selling only their own transportation services directly are exempt from registration under the Act.

TICO - Travel Industry Council of Ontario Practice Test

TICO - Travel Industry Council of Ontario Practice Test

TICO Travel Industry Act, 2002 5