Practice Test GeeksTICO - Travel Industry Council of Ontario Practice Test
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Registration Requirements Flashcards

7 cards from real TICO practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Registration Requirements flashcards as text

  1. A sole proprietor registered with TICO decides to incorporate their travel business. What must happen regarding their TICO registration?

    Answer: A new registration must be obtained in the name of the corporation

    A change in legal structure requires a new TICO registration because the registrant is a different legal entity.

  2. Under TICO's rules, within how many days must a registrant notify TICO of a change in the principal place of business address?

    Answer: Within 5 days

    Registrants must notify TICO within 5 days of any change to their principal place of business.

  3. Which of the following scenarios would likely result in TICO refusing or revoking a registration?

    Answer: The applicant has a past conviction for fraud related to financial transactions

    A history of fraud or dishonesty is grounds for TICO to refuse or revoke registration because it reflects on the applicant's fitness to operate.

  4. What is the primary purpose of the Ontario Travel Industry Compensation Fund administered by TICO?

    Answer: To reimburse consumers who suffer financial loss due to a registered travel agent's insolvency or failure

    The Compensation Fund protects consumers by reimbursing them when a registered Ontario travel agent or wholesaler becomes insolvent or fails to deliver services.

  5. 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?

    Answer: No, if they are not carrying on business in travel services for compensation

    Registration is required only when a person is carrying on business as a travel agent or wholesaler; occasional non-commercial activity for no compensation is excluded.

  6. A TICO registrant's key personnel officer is convicted of a criminal offence involving theft. What is the registrant's obligation?

    Answer: Report the conviction to TICO as it may affect the registration

    Registrants must disclose to TICO any changes in circumstances—including convictions of key officers—that may affect fitness for registration.

  7. When a registered travel agency is sold to new owners, which of the following is correct regarding TICO registration?

    Answer: The new owners must apply for their own TICO registration before operating

    TICO registration is not transferable; when ownership changes, the new owners must obtain their own registration before selling travel services.