TICO EXAM|VERIFIED QUESTIONS AND CORRECT DETAILED ANSWERS|RATED
AND GRADED A+ NEW UPDATE| 2026/2027.
Which item takes precedence over other claims on the travel industry compensation fund? Payments
for...
a) immediate departure
b) trip interruption
c) trip completion
d) a major event - ANSWER✔ trip completion
Joe Smith purchases a package tour from ABC Agency that includes a return economy flight, the airline
end supplier becomes bankrupt during Joe's trip and he is stranded at the destination. He purchases a
business class flight home and then makes a claim on the compensation fund for his trip completion
expenses. Will his trip completion expense claim be successful?
a) yes, because he was forced to make his own arrangements to get home as the Director did not direct
payments for trip completion
b) no, because trip completion expense claims may only be made when a trip cannot be completed
because travel services were not provided as a result of the failure of a registrant
c) yes, because the Fund is primarily concerned w/ 'trip completion' and getting stranded Ontarians
home
d) no, because he purchased a business class flight and he had to obtain services comparable to those
originally purchased - ANSWER✔ no, because trip completion expense claims may only be made
when a trip cannot be completed because travel services were not provided as a result of the failure of a
registrant
A consumer whole wishes to make a standard claim on the compensation fund for the travel services
paid for but not provided must do so
a) any time; there is no limitation
b) immediately
c) w/in 3 months of the registrant's or end supplier failure
d) w/in 6 months of the registrant's end supplier failure - ANSWER✔ d) w/in 6 months of the
registrant's end supplier failure
AND GRADED A+ NEW UPDATE| 2026/2027.
Which item takes precedence over other claims on the travel industry compensation fund? Payments
for...
a) immediate departure
b) trip interruption
c) trip completion
d) a major event - ANSWER✔ trip completion
Joe Smith purchases a package tour from ABC Agency that includes a return economy flight, the airline
end supplier becomes bankrupt during Joe's trip and he is stranded at the destination. He purchases a
business class flight home and then makes a claim on the compensation fund for his trip completion
expenses. Will his trip completion expense claim be successful?
a) yes, because he was forced to make his own arrangements to get home as the Director did not direct
payments for trip completion
b) no, because trip completion expense claims may only be made when a trip cannot be completed
because travel services were not provided as a result of the failure of a registrant
c) yes, because the Fund is primarily concerned w/ 'trip completion' and getting stranded Ontarians
home
d) no, because he purchased a business class flight and he had to obtain services comparable to those
originally purchased - ANSWER✔ no, because trip completion expense claims may only be made
when a trip cannot be completed because travel services were not provided as a result of the failure of a
registrant
A consumer whole wishes to make a standard claim on the compensation fund for the travel services
paid for but not provided must do so
a) any time; there is no limitation
b) immediately
c) w/in 3 months of the registrant's or end supplier failure
d) w/in 6 months of the registrant's end supplier failure - ANSWER✔ d) w/in 6 months of the
registrant's end supplier failure
