Role and Mandate 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 Role and Mandate flashcards as text
The TICO Travel Industry Compensation Fund is designed to protect consumers in which scenario?
Answer: When a registered travel agent or wholesaler becomes insolvent or fails to provide services paid for
The Compensation Fund provides financial relief to Ontario consumers when a TICO-registered registrant becomes bankrupt or ceases to carry on business and fails to deliver paid travel services.
Who contributes to the TICO Travel Industry Compensation Fund?
Answer: TICO-registered travel agents and wholesalers through levies
Registered travel agents and wholesalers pay levies into the Compensation Fund, creating a pool of money to compensate consumers if a registrant fails.
When a consumer files a claim with the TICO Compensation Fund, what is a key eligibility requirement?
Answer: The travel services must have been purchased from a TICO-registered agent or wholesaler
Only consumers who purchased travel services through a TICO-registered travel agent or wholesaler are eligible to claim from the Compensation Fund.
Which consumer protection mechanism does TICO use to publicly verify a travel agency's registration status?
Answer: The TICO Ontario Registrar's search tool on the TICO website
TICO maintains a public online search tool that allows consumers to verify whether a travel business is currently registered with TICO.
What does the TICO Consumer Awareness program primarily aim to achieve?
Answer: Educate consumers about their rights and how to protect themselves when buying travel
TICO's Consumer Awareness program focuses on informing the public about their rights, the importance of booking with registered travel agents, and how to travel safely.
If an Ontario travel agent ceases operations without completing client travel arrangements, TICO's FIRST step is typically to:
Answer: Attempt to have another registered agent fulfill the travel arrangements where possible
TICO's preferred approach is first to facilitate transfer of bookings to another registrant so consumers can still travel, with compensation claims as a secondary remedy.
Which of the following best explains why TICO requires travel agencies to display their TICO registration number?
Answer: So consumers can verify the agency is legally registered and covered by TICO protections
Displaying the registration number allows consumers to verify the agency's standing with TICO and confirms they are entitled to consumer protections under the Travel Industry Act.