TICO Module 1 Exam questions with complete solution

TICO Module 1 Exam questions with complete solution June 25, 1997 ANS-The ON government delegated the administration of the Travel Industry Act to the Travel Industry Council of Ontario. TICO ANS-Travel Industry Council of Ontario TIA ANS-Travel Industry Act Travel Industry Compensation Fund ANS-Refunds (fully or in part) eligible consumers who bought travel services from an Ontario-registered travel agency but did not receive them because of the bankruptcy or insolvency of a registrant or an airline or cruise line end supplier. End supplier ANS-A person that operates a travel service for which they have owner-ship. Examples of end suppliers include airlines, cruise lines, hotels and car rental companies. Do end suppliers need to be registered under the travel industry act, 2002? ANS-No, provided that they do not otherwise act as a travel agent or travel wholesaler in Ontario. The Travel Industry Compensation Fun does not cover the non-provision of travel services by an end supplier except for... ANS-Airlines and cruise lines Who is TICO financed by? ANS-The registration fees of travel agencies and travel wholesalers registered in Ontario. Those same agencies and wholesalers also finance the Travel Industry Compensation Fund. What is TICO? ANS-This is a not-for-profit corporation that regulates, and is financed by, the retail and wholesale travel community. What does the Act govern? ANS-Travel retailers and wholesalers registered in Ontario. Who is currently responsible for consumer legislation in Ontario, including the Travel Industry Act, 2002? ANS-The provincial Ministry of Consumer Services / "the Ministry" How does TICO work cooperatively with the government on behalf of the travel industry and the consumer? ANS-- holds regular liaison meetings with the Ministry to maintain communications and address issues - consults with the Ministry on policy and legal issues to ensure that the legislation remains relevant to all three stakeholder groups - government, the travel industry, and consumers - works with the Ministry to move recommendations forward through the legislative process. This was the process used to develop the changes that resulted in the Travel Industry Act,2002 - works with the Ministry to finalize outstanding items on the Administrative Agreement, the document setting out the responsibilities of TICO as the administrative authority for the Ontario travel industry. What is TICO required to submit to the Ministry? ANS-An annual report and an annual business plan. These documents outline TICO's financial position, discuss issues that have arisen, describe the organization's achievements in the past year, and set objectives for the coming three years. Both documents are posted on the TICO website at .