TICO EXAM [2026] | UPDATED ACTUAL | 100%
CORRECT ANSWERS | DETAILED SOLUTIONS |
• Retail Sales Tax -✓✓ANSWER: Tax required to be shown when advertising a
price
• Federal Goods and Services Tax -✓✓ANSWER: Tax required to be shown when
advertising a price
• Compensation Fund -✓✓ANSWER: Covers taxes and is claimed within 6 months
of failure
• Filing Deadline -✓✓ANSWER: Within 6 months of registrant or supplier failure
• Mission Statement of TICO -✓✓ANSWER: To promote a fair marketplace for
confident consumer travel purchases
• Administration Delegation -✓✓ANSWER: Delegated to TICO by the Ministry
responsible for consumer legislation in Ontario
• TICO Mandate Groups -✓✓ANSWER: TICO works with suppliers, travel agents,
and consumers
• Registrar vs. Director -✓✓ANSWER: Registrar cannot act as Director due to
supervisory roles
, • Total Compensation Fund Payout -✓✓ANSWER: $5 million for claims and $2
million for trip completion
• Client Notification -✓✓ANSWER: Travel agent does not need to inform about
cloudy days in a sun destination
• Advertisement Acceptability -✓✓ANSWER: Price must be exact to prevent
consumer confusion
• Wholesaler Invoice Exclusion -✓✓ANSWER: Wholesaler does not need to
include typical destination information on the invoice
• TICO Reporting -✓✓ANSWER: Reports to the Ministry of Small Business and
Consumer Services
• TICO exam -✓✓ANSWER: Exam required for travel counselors in every province
• TICO Education Standards -✓✓ANSWER: Standards travel centers must comply
with
• Ontario organization -✓✓ANSWER: Organization where TICO rules apply
• Travel agent obligations -✓✓ANSWER: Duties include informing clients of
counseling fees
CORRECT ANSWERS | DETAILED SOLUTIONS |
• Retail Sales Tax -✓✓ANSWER: Tax required to be shown when advertising a
price
• Federal Goods and Services Tax -✓✓ANSWER: Tax required to be shown when
advertising a price
• Compensation Fund -✓✓ANSWER: Covers taxes and is claimed within 6 months
of failure
• Filing Deadline -✓✓ANSWER: Within 6 months of registrant or supplier failure
• Mission Statement of TICO -✓✓ANSWER: To promote a fair marketplace for
confident consumer travel purchases
• Administration Delegation -✓✓ANSWER: Delegated to TICO by the Ministry
responsible for consumer legislation in Ontario
• TICO Mandate Groups -✓✓ANSWER: TICO works with suppliers, travel agents,
and consumers
• Registrar vs. Director -✓✓ANSWER: Registrar cannot act as Director due to
supervisory roles
, • Total Compensation Fund Payout -✓✓ANSWER: $5 million for claims and $2
million for trip completion
• Client Notification -✓✓ANSWER: Travel agent does not need to inform about
cloudy days in a sun destination
• Advertisement Acceptability -✓✓ANSWER: Price must be exact to prevent
consumer confusion
• Wholesaler Invoice Exclusion -✓✓ANSWER: Wholesaler does not need to
include typical destination information on the invoice
• TICO Reporting -✓✓ANSWER: Reports to the Ministry of Small Business and
Consumer Services
• TICO exam -✓✓ANSWER: Exam required for travel counselors in every province
• TICO Education Standards -✓✓ANSWER: Standards travel centers must comply
with
• Ontario organization -✓✓ANSWER: Organization where TICO rules apply
• Travel agent obligations -✓✓ANSWER: Duties include informing clients of
counseling fees
