TICO Supervisor/ Manager Exam

TICO Supervisor/ Manager Exam John is a student who has decided to create his own company to provide walking tours in his hometown of Thunder Bay. Some tourists book a tour, but because John has the flu, he does not show up. The tourists complain to TICO that their afternoon was ruined. Why is TICO unable to assist these consumers? a. a tour guide is considered to be an end supplier and is therefore exempt from registering with TICO b. John should have registered with TICO because he is providing a type of travel service c. having the flu is considered to be a force majeure, so the tourists have no grounds for complaint d. anyone selling guide or sightseeing services in Ontario is exempt from having to register with TICO - d Ontario Regulation 26/05 states that a person who has not registered with TICO in the previous 12 months must provide a a. refundable security deposit of $10,000.00 b. non-refundable security deposit of $10,000.00 c. promissory note, authorized by a lawyer, in the amount of $10,000.00 d. refundable security deposit of $25,000.00 - a A man has violated the Travel Industry Act, 2002 by providing services as a travel agent without actually being registered. As a result of his conviction, the penalty could be a. a fine of not more than $50,000 b. imprisonment for a term of not more than two years less a day c. a fine of not more than $250,000 d. both a fine of not more than $50,000 and imprisonment for a term of not more than two years less a day - d The time limit for prosecuting offences under the Act is no more than ___________ after the Director first becomes aware of the facts on which the proceeding is based. Fill in the blank with the correct answer from one of the following: a. six months b. one year c. two years d. five years - c The landlord of the building where ABC Travel Agency is located, is planning a major renovation. ABC Travel is forced to find another location until the renovation is completed. What is ABC Travel's duty as far as TICO is concerned? a. the agency must inform TICO, in writing, at least five days before the move b. the agency need not inform TICO, because the move is only a temporary one c. the agency need not inform TICO as long as the agency changes its phone message and puts a note on the door of its main premises to alert customers of the temporary relocation d. the agency must inform TICO within a reasonable time of the move, even though it is only a temporary move. - a As defined in Ontario Regulation 26/05, a financial statement does NOT need to include a. a statement of sales in Ontario made during a specific period b. a balance sheet or income statement c. the individual invoices sent to customers during a specific period d. a reconciliation of the trust account with customer deposits - c A trust account may NOT be used to a. borrow funds to keep the travel agency profitable if a customer is late in paying for a package tour b. pay a wholesaler for the package tour for which the travel agency has received the money c. issue refunds to customers d. transfer a registrant's commission to the general account after the travel wholesaler has been paid - a The amount of working capital required