TICO PRACTICE EXAM SCRIPT 2026 FULL
QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥ 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
QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥ 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
