TICO Exam Questions with 100% Correct Answers

What is the Corporate structure of TICO ? Correct Answer Non-profit TICO is an authority of which Ontario government? Correct Answer Ministry of Small business and Consumer Services TICO is financed by? Correct Answer Registrants Which is NOT a TICO Board Committee? Correct Answer Investments TICO's key stakeholders are: Correct Answer Registrants, Consumers, Ontario Government TICO administers the: Correct Answer The travel Industry Act, 2002 and Ontario Regulation 26/05 How many provinces have travel legislation? Correct Answer 3 A condition for a new TICO registration for a travel agency is Correct Answer Security deposit of 10,000 What type of accounting must TICO travel agencies implement ? Correct Answer Trust accounting Which consumer is protected by TICO regulations Correct Answer Any consumer who buys travel from a TICO registered travel agency A written representation may exclude the TICO registration number Correct Answer If there are time and space limitations Which is not an acceptable price representation Correct Answer total prices less all taxes and charges Which type of insurance must always be offered? Correct Answer Trip cancellation insurance What fact about accommodation must be disclosed Correct Answer Standards not always the same as in Canada what advertising is considered to be misleading, TICO may Correct Answer All of the above a. Order the agency to cease advertising b. Order the agency to retract advertising c.Order the agency to issue a correction to the advertising