TICO & OPC Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
TICO Travel Industry Council of Ontario
What does TICO do? - works with the government on behalf of
the travel
industry and consumers
- regulates travel retailers and wholesalers
in
Ontario
Ontario Travel Industry Act (2002) - sets down the rules under which travel
retailers
and travel wholesalers must operate in
Ontario
- a law or act describes a set of rules
- a regulation describes how the rules will
be
enforced
- a person who sells travel services
provided by
another person
Who is TICO funded by? Ontario registrants
OPC Office of Protection for the consumer
,OPC's Mission to protect consumers, promote a better
balance of
power between consumers and
merchants, to
inform consumers
Act the idea the gov is going for (a piece of
legislation)
Regulations the rules set in place to make it happen
Tribunal a court or forum of justice
Parliament the group of people who are responsible
for
making the laws
Small claims claims of $15,000 or less
Civil Court claims of more than $15,000 but less than
$85,000
Trust Account an account where the agency deposits
money that
is received from customers
Travel Counselors can deposit customer funds into the
account
, Commission is to be collected only AFTER the suppliers
have
been paid
Force Majeure unforeseeable circumstances that prevent
someone from fulfilling a contract or event
Invoice a form describing the goods or services
sold, the
quantity, and the price
Registrar responsible for the regulatory functions
within
TICO
Registraint the Ontario registered travel retailers or
wholesalers
Insurance Travel Agencies/counselors MUST advise
the
customer of the availability of trip
cancellation
insurance and out-of-province health
insurance
TICO contributions are made twice a year (six-month
intervals)
TICO Claims Limit the maximum refund is $5,000 per person
with Verified Solutions | Latest Updated 2026
TICO Travel Industry Council of Ontario
What does TICO do? - works with the government on behalf of
the travel
industry and consumers
- regulates travel retailers and wholesalers
in
Ontario
Ontario Travel Industry Act (2002) - sets down the rules under which travel
retailers
and travel wholesalers must operate in
Ontario
- a law or act describes a set of rules
- a regulation describes how the rules will
be
enforced
- a person who sells travel services
provided by
another person
Who is TICO funded by? Ontario registrants
OPC Office of Protection for the consumer
,OPC's Mission to protect consumers, promote a better
balance of
power between consumers and
merchants, to
inform consumers
Act the idea the gov is going for (a piece of
legislation)
Regulations the rules set in place to make it happen
Tribunal a court or forum of justice
Parliament the group of people who are responsible
for
making the laws
Small claims claims of $15,000 or less
Civil Court claims of more than $15,000 but less than
$85,000
Trust Account an account where the agency deposits
money that
is received from customers
Travel Counselors can deposit customer funds into the
account
, Commission is to be collected only AFTER the suppliers
have
been paid
Force Majeure unforeseeable circumstances that prevent
someone from fulfilling a contract or event
Invoice a form describing the goods or services
sold, the
quantity, and the price
Registrar responsible for the regulatory functions
within
TICO
Registraint the Ontario registered travel retailers or
wholesalers
Insurance Travel Agencies/counselors MUST advise
the
customer of the availability of trip
cancellation
insurance and out-of-province health
insurance
TICO contributions are made twice a year (six-month
intervals)
TICO Claims Limit the maximum refund is $5,000 per person
