Canada Exam Prep
OPC Travel Counsellor overview

OPC Travel Counsellor: The trust account

  • 12 questions
  • Topic drill
Answered 0/12

Preparing your questions…

Question 1 of 12Score 0/0

How may the agent withdraw money from the trust account?

Study reference: Editorial source checking, no licensed review — The trust account

All 12 questions in this test

Every original question, with optional answers, explanations and official references. Open an answer to study, or take the test above for instant feedback.

  1. How may the agent withdraw money from the trust account?

    1. By cheque or a documented bank transfer
    2. At an ATM with a bank card
    3. At the bank counter, in cash
    4. Any way, as long as it is recorded
    Show answer and explanation

    Correct answer: By cheque or a documented bank transfer

    A transfer must have the prescribed written record: date, amount, beneficiary, name and signature of the person making it. Recording a cash withdrawal does not make that method permitted.

    Based on: RAV art. 24; official source in French checked 2026-10-24

    Official reference ↗

  2. The owner wants to pay the electricity bill with his share of commission held in the trust account, without transferring it first. Is that allowed?

    1. Yes, if an accountant approves it
    2. No, the account never pays operating costs
    3. Yes, if the bill is under $500
    4. Yes, since the commission belongs to him
    Show answer and explanation

    Correct answer: No, the account never pays operating costs

    Even when entitled to part of the funds, the agent may not use the trust account to pay operating expenses or personal bills.

    Based on: RAV art. 25; official source in French checked 2026-10-24

    Official reference ↗

  3. A general-licence agency receives client travel funds, outside the direct-card-payment exception. Where must it deposit or credit them?

    1. The counsellor's personal bank account
    2. A trust account in Québec, in the agent's name
    3. A tour operator's account held abroad
    4. The agency's regular operating account
    Show answer and explanation

    Correct answer: A trust account in Québec, in the agent's name

    The ordinary rule is prompt, full deposit or credit to the agent’s Québec trust account. The regulation separately addresses direct credit-card transmission and certain restricted-licence outfitters.

    Based on: RAV art. 22, 22.01, 29.1; official source in French checked 2026-10-24

    Official reference ↗

  4. A licence holder delegates trust-account transactions to a staff member. What formality does Regulation s. 27 expressly require?

    1. Each customer’s signature for every transaction
    2. The licence holder’s written authorization
    3. Only the counsellor’s verbal agreement
    4. The travel supplier’s authorization
    Show answer and explanation

    Correct answer: The licence holder’s written authorization

    Section 27 permits written authorization of an officer or staff member, acting alone or jointly. This is distinct from the trust-account opening notice in s. 22.1.

    Based on: RAV art. 27; official source in French checked 2026-10-24

    Official reference ↗

  5. May the trust account be overdrawn for a few days?

    1. No, never
    2. Yes, up to $1,000
    3. Yes, for 5 days
    4. Yes, with the bank's consent
    Show answer and explanation

    Correct answer: No, never

    The trust account must never be overdrawn or in deficit.

    Based on: RAV art. 26; official source in French checked 2026-10-24

    Official reference ↗

  6. Which payment form falls within the definition of funds in Regulation s. 21?

    1. Airline loyalty points
    2. A verbal promise to pay
    3. An agency discount coupon
    4. A credit card payment
    Show answer and explanation

    Correct answer: A credit card payment

    The definition includes the monetary equivalent of card payments as well as cash and negotiable instruments. It does not remove the separate direct-transmission arrangement in s. 22.

    Based on: RAV art. 21–22; official source in French checked 2026-10-24

    Official reference ↗

  7. When may the agent take the commission out of the trust account?

    1. At the end of every month, whatever the file
    2. As soon as the customer makes a first deposit
    3. After paying the customer's suppliers
    4. Before paying the tour operator, to be safe
    Show answer and explanation

    Correct answer: After paying the customer's suppliers

    The agent may take commission and service fees from the account only after paying the suppliers of the customer's services.

    Based on: RAV art. 23(e); official source in French checked 2026-10-24

    Official reference ↗

  8. Customer A deposited $2,000. The agent must pay the tour operator $2,500 for A. May the agent use $500 deposited by customer B?

    1. Yes, if B is repaid before departure
    2. Yes, if the account total allows it
    3. Yes, with B's verbal consent
    4. No, never more than that customer deposited
    Show answer and explanation

    Correct answer: No, never more than that customer deposited

    The agent may not withdraw for a customer more than the funds deposited and held for that customer. One customer's money is never used for another.

    Based on: RAV art. 23 al. 1, 25; official source in French checked 2026-10-24

    Official reference ↗

  9. What must the agent's books show about trust funds?

    1. Only commissions paid to counsellors
    2. Funds received, outlays and the balance per customer
    3. Only the account's total balance at year end
    4. Only payments made in cash
    Show answer and explanation

    Correct answer: Funds received, outlays and the balance per customer

    The books record all funds received in trust, outlays from the account and the unspent balance, in total and for each customer.

    Based on: RAV art. 17; official source in French checked 2026-10-24

    Official reference ↗

  10. The agency opens a new trust account. Within what time must it notify the Office?

    1. Within 30 days
    2. Within 7 days
    3. At licence renewal
    4. Within 15 days
    Show answer and explanation

    Correct answer: Within 7 days

    Opening, closing and transferring the account are reported to the Office within seven days, with the institution's name and address and the account number.

    Based on: RAV art. 22.1; official source in French checked 2026-10-24

    Official reference ↗

  11. Which of these withdrawals from the trust account is allowed?

    1. Paying for the agency's advertising
    2. Paying the receptionist's salary
    3. Paying the agency's office rent
    4. Paying the hotel booked for that customer
    Show answer and explanation

    Correct answer: Paying the hotel booked for that customer

    The funds serve the customer's services: paying the customer's suppliers, refunding the customer, reimbursing outlays made for the customer and, once suppliers are paid, the agent's fees and commission.

    Based on: RAV art. 23(a); official source in French checked 2026-10-24

    Official reference ↗

  12. Without written delegation to an officer or staff member, who must carry out the trust account’s banking transactions?

    1. An inspector from the Office
    2. The licence holder
    3. Any counsellor
    4. The supplying tour operator
    Show answer and explanation

    Correct answer: The licence holder

    The holder carries out transactions but may authorize an officer or staff member in writing, alone or jointly. A counsellor is not automatically authorized merely by holding that job.

    Based on: RAV art. 27; official source in French checked 2026-10-24

    Official reference ↗

The trust account: key rules to remember

Our summary of what the official handbook says on this topic, in our own words. Read it before or after the practice questions above, then check the original chapter. Read the official chapter ↗

The trust account

  • A general-licence agency receives client travel funds, outside the direct-card-payment exception. Where must it deposit or credit them?: The ordinary rule is prompt, full deposit or credit to the agent’s Québec trust account. The regulation separately addresses direct credit-card transmission and certain restricted-licence outfitters.
  • Which payment form falls within the definition of funds in Regulation s. 21?: The definition includes the monetary equivalent of card payments as well as cash and negotiable instruments. It does not remove the separate direct-transmission arrangement in s. 22.
  • The agency opens a new trust account. Within what time must it notify the Office?: Opening, closing and transferring the account are reported to the Office within seven days, with the institution's name and address and the account number.
  • A licence holder delegates trust-account transactions to a staff member. What formality does Regulation s. 27 expressly require?: Section 27 permits written authorization of an officer or staff member, acting alone or jointly. This is distinct from the trust-account opening notice in s. 22.1.
  • Which of these withdrawals from the trust account is allowed?: The funds serve the customer's services: paying the customer's suppliers, refunding the customer, reimbursing outlays made for the customer and, once suppliers are paid, the agent's fees and commission.
  • How may the agent withdraw money from the trust account?: A transfer must have the prescribed written record: date, amount, beneficiary, name and signature of the person making it. Recording a cash withdrawal does not make that method permitted.
  • When may the agent take the commission out of the trust account?: The agent may take commission and service fees from the account only after paying the suppliers of the customer's services.
  • Customer A deposited $2,000. The agent must pay the tour operator $2,500 for A. May the agent use $500 deposited by customer B?: The agent may not withdraw for a customer more than the funds deposited and held for that customer. One customer's money is never used for another.
  • May the trust account be overdrawn for a few days?: The trust account must never be overdrawn or in deficit.
  • The owner wants to pay the electricity bill with his share of commission held in the trust account, without transferring it first. Is that allowed?: Even when entitled to part of the funds, the agent may not use the trust account to pay operating expenses or personal bills.
  • What must the agent's books show about trust funds?: The books record all funds received in trust, outlays from the account and the unspent balance, in total and for each customer.
  • Without written delegation to an officer or staff member, who must carry out the trust account’s banking transactions?: The holder carries out transactions but may authorize an officer or staff member in writing, alone or jointly. A counsellor is not automatically authorized merely by holding that job.

Study the The trust account rules as flashcards →

Other topics

Full practice tests