TICO COMPREHENSIVE EXAM 2026
QUESTIONS AND CORRECT SOLUTIONS
● What are TICO's three main goals?
• Protecting Travel Agents, insuring proper business practices and
regulating the industry
• Closing down Expedia
• Collecting money for the Compensation Fund, regulating the industry
and administering the Travel Industry Act
• Consumer protection, industry regulation and good business ethics.
Answer: • Consumer protection, industry regulation and good business
ethics (correct answer)
● Ontario Regulations 26/05 demands that the following be shown when
advertising a price...
• Retail sales tax
• Federal goods and services tax
• All taxes, fees levies, service charges and surcharges
• All taxes except retail sales tax and federal goods and services tax.
Answer: • All taxes except retail sales tax and federal goods and services
tax (correct answer)
,● The Compensation Fund covers which of the following?
• Taxes
• Insurance premiums
• The cost of alternative travel services
• Counselling fees paid to a travel agent. Answer: • Taxes (correct
answer)
● What is the filing deadline for making a claim on the Compensation
Fund?
• Within 6 months of the date of the registrant or end supplier, airline or
cruise line failure
• Within 1 year of the date of the registrant or end supplier, airline or
cruise line failure
• Within 60 days of the date of the registrant or end supplier, airline or
cruise line failure
• Within 30 days of the date of the registrant or end supplier, airline or
cruise line failure. Answer: • Within 6 months of the date of the
registrant or end supplier, airline or cruise line failure (correct answer)
● The phrase "to promote a fair and informed marketplace where
consumers can be confident in their travel purchases" is the
• Purpose of the Travel Industry Act 2002
• Vision statement of TICO
, • Mission statement of the Ministry responsible for consumer legislation
in Ontario
• Mission statement of TICO. Answer: • Mission statement of TICO
(correct answer)
● The administration of the Travel Industry Act 2002, was delegated to
TICO by the
• Travel industry
• Ontario provincial government
• Ministry responsible for consumer legislation in Ontario
• Federal government. Answer: • Ministry responsible for consumer
legislation in Ontario (correct answer)
● What three groups does TICO works with to carry out its mandate?
• Suppliers, travel agents, consumers
• Travel retailers, travel wholesalers, consumers
• Consumers, travel retailers, the federal government
• The travel industry, the provincial government, consumers. Answer: •
The travel industry, the provincial government, consumers (correct
answer)
● Can the Registrar act as Director?
• No, because the Director supervises the duties of the Registrar
• No, because the Registrar supervises the duties of the Director
QUESTIONS AND CORRECT SOLUTIONS
● What are TICO's three main goals?
• Protecting Travel Agents, insuring proper business practices and
regulating the industry
• Closing down Expedia
• Collecting money for the Compensation Fund, regulating the industry
and administering the Travel Industry Act
• Consumer protection, industry regulation and good business ethics.
Answer: • Consumer protection, industry regulation and good business
ethics (correct answer)
● Ontario Regulations 26/05 demands that the following be shown when
advertising a price...
• Retail sales tax
• Federal goods and services tax
• All taxes, fees levies, service charges and surcharges
• All taxes except retail sales tax and federal goods and services tax.
Answer: • All taxes except retail sales tax and federal goods and services
tax (correct answer)
,● The Compensation Fund covers which of the following?
• Taxes
• Insurance premiums
• The cost of alternative travel services
• Counselling fees paid to a travel agent. Answer: • Taxes (correct
answer)
● What is the filing deadline for making a claim on the Compensation
Fund?
• Within 6 months of the date of the registrant or end supplier, airline or
cruise line failure
• Within 1 year of the date of the registrant or end supplier, airline or
cruise line failure
• Within 60 days of the date of the registrant or end supplier, airline or
cruise line failure
• Within 30 days of the date of the registrant or end supplier, airline or
cruise line failure. Answer: • Within 6 months of the date of the
registrant or end supplier, airline or cruise line failure (correct answer)
● The phrase "to promote a fair and informed marketplace where
consumers can be confident in their travel purchases" is the
• Purpose of the Travel Industry Act 2002
• Vision statement of TICO
, • Mission statement of the Ministry responsible for consumer legislation
in Ontario
• Mission statement of TICO. Answer: • Mission statement of TICO
(correct answer)
● The administration of the Travel Industry Act 2002, was delegated to
TICO by the
• Travel industry
• Ontario provincial government
• Ministry responsible for consumer legislation in Ontario
• Federal government. Answer: • Ministry responsible for consumer
legislation in Ontario (correct answer)
● What three groups does TICO works with to carry out its mandate?
• Suppliers, travel agents, consumers
• Travel retailers, travel wholesalers, consumers
• Consumers, travel retailers, the federal government
• The travel industry, the provincial government, consumers. Answer: •
The travel industry, the provincial government, consumers (correct
answer)
● Can the Registrar act as Director?
• No, because the Director supervises the duties of the Registrar
• No, because the Registrar supervises the duties of the Director
