Practice Test GeeksTICO - Travel Industry Council of Ontario Practice Test
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Travel Compensation Fund 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 Travel Compensation Fund flashcards as text

  1. Under TICO regulations, what is the maximum amount a single consumer can claim from the Travel Compensation Fund?

    Answer: $10,000

    The Travel Compensation Fund caps individual consumer claims at $10,000 per person.

  2. Which of the following situations would NOT qualify a consumer for a Travel Compensation Fund claim?

    Answer: A consumer's flight is delayed by 6 hours due to weather

    Weather-related flight delays are an airline operational issue, not a registrant insolvency event covered by the Fund.

  3. How does the Travel Compensation Fund treat claims when total valid claims exceed the available fund balance?

    Answer: Claims are paid on a pro-rata basis proportional to each claim's value

    When the Fund is insufficient to cover all claims, payments are distributed pro-rata so each claimant receives a proportional share.

  4. A consumer books a vacation package through a TICO registrant and pays in full. The registrant collapses financially. Which document is most important for the consumer to submit with their claim?

    Answer: Proof of payment such as a receipt or bank statement

    Proof of payment is essential to demonstrate the consumer's financial loss when filing a Travel Compensation Fund claim.

  5. What role does TICO play after a registrant's collapse triggers Travel Compensation Fund claims?

    Answer: TICO administers the claims process and distributes Fund payments

    TICO administers the claims process, reviews submissions, and authorizes Fund disbursements to eligible consumers.

  6. A travel agent working as an independent contractor under a TICO-registered host agency fails to forward a client's cruise deposit to the cruise line. Can the client claim from the Travel Compensation Fund?

    Answer: Yes, because the registered host agency is responsible for the registrant's obligations

    The host agency, as the TICO registrant of record, bears responsibility, making the consumer eligible for a Fund claim.

  7. What is the filing deadline for a consumer to submit a claim to the Travel Compensation Fund after a registrant's failure is announced?

    Answer: 6 months

    Consumers generally have 6 months from the date of the registrant's failure announcement to file a claim with the Travel Compensation Fund.