TICO Module 3 Correct Questions & Answers!!

representation - ANSWERSa presentation of fact made in person, electronically, or in print in order to induce someone to act or enter into a contract. Examples of representations include: - ANSWERSoral presentations, advertisements, brochures, and websites. Section 31 of the Regulation - ANSWERSRegistrants must ensure that any representations made on their behalf comply with the Act and Regulation. Therefore, all registrants must understand what is acceptable under the legislation. Written representations obligations - ANSWERSexamples such as newspaper advertisements, brochures, or websites, must contain the registrant's business name, address, and registration number. Residential phone numbers should not be included in written representations. Oral representations obligations - ANSWERS(for example, a sales presentation) do not have to include the registrant's business name, address, and registration number Time and space limitations apply to: - ANSWERSA representation displayed on a billboard or bus board or made through any other medium with similar time or space limitations Time and space limitations are not required to: - ANSWERSinclude a registrant's business name, address, and registration number. Registrants should not assume that something is a limited medium unless: - ANSWERSTICO has specifically stated that the medium has time or space limitations. For all forms of representation, any statement made about price must be: - ANSWERSclear, comprehensible, and prominent Prices can be shown in three ways. They are: - ANSWERSas a total price, including all fees, levies, service charges, and surcharges; as a base price plus a total for all fees, levies, service charges, and surcharges; or as a base price plus an itemized list of all fees, levies, service charges, and surcharges. What does not need to be included in a price representation? - ANSWERSprovincial retail sales tax (PST), federal Goods and Services Tax (GST) and Harmonized Sales Tax (HST).