TICO Cheat Sheet 2026

The 30 highest-yield TICO facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. A travel agent is found to have withdrawn client trust funds to pay personal expenses. Under TICO's enforcement framework, what is the most likely consequence? → Registration suspension or revocation and possible criminal charges for fraud
2. Which of the following records is a TICO-registered travel agency required to maintain? → Records of all client transactions, including contracts, receipts, and correspondence
3. For a CRS what does the acronym PNR stand for? → Passenger Name Record
4. Which of the following is grounds for TICO to revoke a travel agent's registration? → Making a false statement in the registration application
5. The Travel Compensation Fund does NOT cover losses arising from which of the following situations? → A consumer who booked a flight directly with an airline that subsequently went bankrupt
6. A travel registrant sells a tour package and collects the full payment 11 months before departure. Under trust accounting rules, these funds must: → Remain in trust until remitted to the supplier or refunded
7. If a consumer has a complaint about an Ontario-registered travel agent, what is the correct first step? → Contact the travel agent or agency to resolve the matter first
8. Which Ontario government ministry is responsible for overseeing TICO as a delegated administrative authority? → Ministry of Public and Business Service Delivery
9. When TICO receives a consumer complaint against a registrant, what is TICO's first typical step? → Attempt to mediate a resolution between the consumer and the registrant
10. A travel invoice must include which specific information about the travel agent who issued it? → The registered agent's name and TICO registration number
11. Under TICO's enforcement framework, what is the first step a TICO inspector typically takes when initiating a compliance audit of a registered travel agency? → Provide advance written notice of the inspection to the registrant
12. Under the Travel Industry Act, 2002, what must a registered travel agent do if they are unable to provide a travel service that has been paid for? → Provide a full refund to the consumer
13. A TICO registrant's key personnel officer is convicted of a criminal offence involving theft. What is the registrant's obligation? → Report the conviction to TICO as it may affect the registration
14. What is the purpose of requiring registrants to display their TICO registration number in all advertising? → To allow consumers to verify the registrant is authorized to sell travel in Ontario
15. Which of the following is NOT a function of TICO under its consumer protection mandate? → Providing direct legal representation to consumers in lawsuits against travel agents
16. If a registered travel agency wishes to open a second branch location in Ontario, what must the registrant do? → Notify TICO and ensure the branch is listed on the registration
17. Which record must a TICO-registered travel agent maintain to demonstrate compliance with trust accounting requirements? → A trust account ledger reconciled monthly
18. What enforcement action can TICO take against a registrant who fails to comply with the Travel Industry Act, 2002 or its regulations? → Suspend or revoke the registrant's registration
19. Which of the following individuals is exempt from registration under the Travel Industry Act, 2002? → An airline selling only its own flights directly to consumers
20. In what year was TICO established as a delegated administrative authority in Ontario? → 1997
21. Which of the following is a key requirement for a TICO registrant regarding customer funds under the Travel Industry Act, 2002? → Maintaining a separate trust account for all customer funds received for travel services.
22. Which consumer protection mechanism does TICO use to publicly verify a travel agency's registration status? → The TICO Ontario Registrar's search tool on the TICO website
23. A person working from home selling travel services only to friends and family occasionally, without advertising or charging a fee, must they register with TICO? → No, if they are not carrying on business in travel services for compensation
24. A client wants to travel to Cuba from Canada. Which entry document is required in addition to a valid passport for most Canadian tourists? → A tourist card (tarjeta del turista)
25. When must a travel registrant provide a consumer with a written contract or invoice? → At the time of booking or as soon as reasonably practical thereafter
26. Under TICO rules, a travel agent's written disclosure to consumers must include all of the following EXCEPT: → A personal guarantee from the agent's owner
27. Which of the following best describes the purpose of the TICO Registration Education Program (REP)? → To ensure prospective registrants understand their obligations under Ontario travel law
28. The TICO Code of Ethics applies to: → All TICO-registered travel agents and travel wholesalers in Ontario
29. Which of the following best describes the role of administrative monetary penalties (AMPs) under TICO's enforcement framework? → To hold registrants financially accountable for violations and deter future non-compliance
30. What is the primary purpose of TICO's fit and proper assessment during the registration process? → To determine whether an applicant has the character and competence to protect consumers