TICO EXAM NEW STUDY QUESTIONS AND
VERIFIED SOLUTIONS COMPLETE REVIEW
RESOURCE 100 PERCENT CORRECT
GRADED A+
⩥ Who must register under the Travel Industry Act, 2002?
Answer: All travel retailers and travel wholesalers operating in Ontario.
⩥ What are travel services defined as under the Act?
Answer: Transportation or sleeping accommodation for travelers,
tourists, or sightseers, along with other related services.
⩥ Who is considered a Travel Agent or Travel Retailer?
Answer: A person or business that sells travel services to consumers.
⩥ What is the role of a Travel Wholesaler?
Answer: To acquire rights to travel services for resale to travel retailers.
⩥ What is a Travel Counsellor?
Answer: An individual employed by a travel retailer to sell travel
services to customers.
,⩥ What distinguishes an Outside Sales Representative?
Answer: A travel counsellor who works from a location other than the
registered office of a travel retailer.
⩥ What is TICO?
Answer: The Travel Industry Council of Ontario, responsible for
administering and enforcing the Travel Industry Act.
⩥ What is the function of the Registrar appointed by TICO?
Answer: To carry out administrative and regulatory functions under the
Act.
⩥ What does the Licence Appeal Tribunal do?
Answer: Hears appeals regarding compensation claims and licensing
activities regulated by TICO.
⩥ When was the Travel Industry Act first passed?
Answer: In 1974.
⩥ What consumer protection measures are included in the Travel
Industry Act?
Answer: Registration requirements, financial security, compensation for
non-provision of services, and truth in advertising.
,⩥ What is the purpose of the Travel Compensation Fund?
Answer: To refund eligible consumers who did not receive travel
services due to the bankruptcy of a registrant.
⩥ What is required of new registrants in Ontario?
Answer: They must post a security deposit of $10,000.
⩥ What is the significance of trust accounting in travel services?
Answer: Monies collected from consumers must be placed in a trust
account for travel purchases.
⩥ What happens if a travel counsellor fails to book travel products
correctly?
Answer: It can lead to errors or delays in travel arrangements.
⩥ What is TICO's relationship with the provincial government?
Answer: TICO administers the Travel Industry Act on behalf of the
Ontario government.
⩥ What are the three stakeholder groups involved with TICO?
Answer: Government, the travel industry, and consumers.
⩥ Who finances TICO's operations?
, Answer: Fees paid by registered travel retailers and wholesalers.
⩥ What is the role of the CEO in TICO's organizational structure?
Answer: The CEO reports to the Board of Directors and is a member but
does not vote.
⩥ How many Directors are on TICO's Board?
Answer: There are 9 Directors.
⩥ What is the main goal of the Travel Industry Act?
Answer: To protect consumers in the travel industry.
⩥ What must travel counsellors be supervised by?
Answer: Individuals with travel expertise and experience.
⩥ What does 'truth in disclosures' mean for Ontario registrants?
Answer: They are prohibited from making false or misleading
statements in advertisements.
⩥ What is the consequence for a non-registrant selling travel services in
Ontario?
Answer: It is illegal for them to conduct business without registration.
VERIFIED SOLUTIONS COMPLETE REVIEW
RESOURCE 100 PERCENT CORRECT
GRADED A+
⩥ Who must register under the Travel Industry Act, 2002?
Answer: All travel retailers and travel wholesalers operating in Ontario.
⩥ What are travel services defined as under the Act?
Answer: Transportation or sleeping accommodation for travelers,
tourists, or sightseers, along with other related services.
⩥ Who is considered a Travel Agent or Travel Retailer?
Answer: A person or business that sells travel services to consumers.
⩥ What is the role of a Travel Wholesaler?
Answer: To acquire rights to travel services for resale to travel retailers.
⩥ What is a Travel Counsellor?
Answer: An individual employed by a travel retailer to sell travel
services to customers.
,⩥ What distinguishes an Outside Sales Representative?
Answer: A travel counsellor who works from a location other than the
registered office of a travel retailer.
⩥ What is TICO?
Answer: The Travel Industry Council of Ontario, responsible for
administering and enforcing the Travel Industry Act.
⩥ What is the function of the Registrar appointed by TICO?
Answer: To carry out administrative and regulatory functions under the
Act.
⩥ What does the Licence Appeal Tribunal do?
Answer: Hears appeals regarding compensation claims and licensing
activities regulated by TICO.
⩥ When was the Travel Industry Act first passed?
Answer: In 1974.
⩥ What consumer protection measures are included in the Travel
Industry Act?
Answer: Registration requirements, financial security, compensation for
non-provision of services, and truth in advertising.
,⩥ What is the purpose of the Travel Compensation Fund?
Answer: To refund eligible consumers who did not receive travel
services due to the bankruptcy of a registrant.
⩥ What is required of new registrants in Ontario?
Answer: They must post a security deposit of $10,000.
⩥ What is the significance of trust accounting in travel services?
Answer: Monies collected from consumers must be placed in a trust
account for travel purchases.
⩥ What happens if a travel counsellor fails to book travel products
correctly?
Answer: It can lead to errors or delays in travel arrangements.
⩥ What is TICO's relationship with the provincial government?
Answer: TICO administers the Travel Industry Act on behalf of the
Ontario government.
⩥ What are the three stakeholder groups involved with TICO?
Answer: Government, the travel industry, and consumers.
⩥ Who finances TICO's operations?
, Answer: Fees paid by registered travel retailers and wholesalers.
⩥ What is the role of the CEO in TICO's organizational structure?
Answer: The CEO reports to the Board of Directors and is a member but
does not vote.
⩥ How many Directors are on TICO's Board?
Answer: There are 9 Directors.
⩥ What is the main goal of the Travel Industry Act?
Answer: To protect consumers in the travel industry.
⩥ What must travel counsellors be supervised by?
Answer: Individuals with travel expertise and experience.
⩥ What does 'truth in disclosures' mean for Ontario registrants?
Answer: They are prohibited from making false or misleading
statements in advertisements.
⩥ What is the consequence for a non-registrant selling travel services in
Ontario?
Answer: It is illegal for them to conduct business without registration.
