Module 1 for TICO Exam Questions & Answers 100% Correct!!

Tico - ANSWERIs a not for profit corporation that regulates, and is financed by the retail and wholesale travel community On June 25, 1995 - ANSWERThe government delegated the administration of the Travel Industry Act to the Travel Industry Council of Ontario What does TICO stands for - ANSWERTravel Industry Council of Ontario TICO is also responsible for - ANSWERIndustry financed Travel Industry Compensation Fund. The act governs travel retailers and wholesales registered in Ontario. Travel Industry Act - ANSWERWas found in 2002 End supplier - ANSWERA person that operates a travel service for which they have ownership. TICO is required by the ministry to? - ANSWERSubmit an annual report and annual business plan The provincial ministry of Consumer service is responsible for? - ANSWERConsumer legislation in Ontario, including the Travel Industry Act, 2002 TICO is managed by? - ANSWERA Board of Directors and a Chief Executive Officer(CEO). The board represents 15 members, 10 representatives from the travel industry, and 5 individuals appointed by the ministry to represent cosumers, business and the government. There are currently 10 Board committees TICO's primary responsibilities are to - ANSWERAdminister the Travel Industry Act, 2002 and ensures that registrants follow the rules so that consumers are protected and can be confident in their travel purchases. TICO's mission is to? - ANSWERPromote a fair and informed marketplace where consumers can be confident in their travel purchases. TICO works with three groups to carry out its mandate. What are the three groups? - ANSWERconsumers, the travel industry, and the government. Registrant - ANSWERA travel agent or travel wholesaler who is registered as a travel agent, travel wholesaler or both under the Travel Industry Act 2002.