TICO Module 5 Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
Section 52 of the Regulation Purpose of the travel Industry
compensation Fund
The purpose of the Travel Industry protect consumers who purchase travel
Compensation Fund (usually services
referred from Ontario-registered retailers.
to simply as the Compensation
Fund,
or the Fund) is to:
If travel services cannot be receive compensation from the Fund.
provided
because of the financial failure of a
registrant or an airline or cruise
line
end supplier, then a consumer
may
be eligible to:
,True or False: Consumers do not True. As long as consumers purchase
have to live in Ontario to be travel
covered services from an Ontario registered travel
by the Fund. agency,
they are protected by the Compensation
Fund in
the event that they do not receive their
travel
services as a result of the failure of an
Ontario
registered travel retailer, an Ontario
registered
travel wholesaler or an airline or cruise
line.
The Fund is made up of: contributions made by registrants
any money borrowed under this or an
earlier
Regulation
recoveries of money paid from the Fund;
and
income earned on the money in the Fund.
Section 72 of the Regulation TICO has the legal right to borrow money
to
supplement the Fund.
Section 70 of the Regulation A registrant is required to reimburse the
Fund for
any claims paid to the registrant's
customers under
certain circumstances
, A registrant is required to the registrant is bankrupt or insolvent or
reimburse has
the Fund for any claims paid to the ceased to carry on business; or the
registrant's customers under the registrant
following circumstances: purchased travel services on the
customer's behalf,
extending credit to the customer, and the
customer
paid the registrant for the travel services
after the
supplier of the travel services had become
bankrupt or insolvent or ceased to carry on
business.
claimant someone who officially makes a claim to a
benefit
or right. In the case of the Travel Industry
Compensa-tion Fund, they are someone
who
wishes to be paid back ("reimbursed") for
what he
or she spent on a travel service but did not
receive
or someone who wish-es to be reimbursed
for rea-
sonable expenses incurred to complete a
trip.
A travel agent or travel wholesaler Travel Industry Compensation Fund.
must contribute to the:
with Verified Solutions | Latest Updated 2026
Section 52 of the Regulation Purpose of the travel Industry
compensation Fund
The purpose of the Travel Industry protect consumers who purchase travel
Compensation Fund (usually services
referred from Ontario-registered retailers.
to simply as the Compensation
Fund,
or the Fund) is to:
If travel services cannot be receive compensation from the Fund.
provided
because of the financial failure of a
registrant or an airline or cruise
line
end supplier, then a consumer
may
be eligible to:
,True or False: Consumers do not True. As long as consumers purchase
have to live in Ontario to be travel
covered services from an Ontario registered travel
by the Fund. agency,
they are protected by the Compensation
Fund in
the event that they do not receive their
travel
services as a result of the failure of an
Ontario
registered travel retailer, an Ontario
registered
travel wholesaler or an airline or cruise
line.
The Fund is made up of: contributions made by registrants
any money borrowed under this or an
earlier
Regulation
recoveries of money paid from the Fund;
and
income earned on the money in the Fund.
Section 72 of the Regulation TICO has the legal right to borrow money
to
supplement the Fund.
Section 70 of the Regulation A registrant is required to reimburse the
Fund for
any claims paid to the registrant's
customers under
certain circumstances
, A registrant is required to the registrant is bankrupt or insolvent or
reimburse has
the Fund for any claims paid to the ceased to carry on business; or the
registrant's customers under the registrant
following circumstances: purchased travel services on the
customer's behalf,
extending credit to the customer, and the
customer
paid the registrant for the travel services
after the
supplier of the travel services had become
bankrupt or insolvent or ceased to carry on
business.
claimant someone who officially makes a claim to a
benefit
or right. In the case of the Travel Industry
Compensa-tion Fund, they are someone
who
wishes to be paid back ("reimbursed") for
what he
or she spent on a travel service but did not
receive
or someone who wish-es to be reimbursed
for rea-
sonable expenses incurred to complete a
trip.
A travel agent or travel wholesaler Travel Industry Compensation Fund.
must contribute to the:
