TICO Registration Requirements

Question 1

Under the Travel Industry Act, 2002, who is required to be registered with TICO to sell travel services in Ontario?

Accepted Answer

Any person or business that sells travel services to Ontario consumers

Answer

Only travel wholesalers with annual revenues above $500,000

Answer

Only travel agents operating physical storefront locations

Answer

Only businesses incorporated in Ontario

Question 2

Which of the following is a category of registrant recognized under TICO?

Accepted Answer

Travel wholesaler

Answer

Travel insurer

Answer

Travel technology provider

Answer

Travel bank

Question 3

What education requirement must individuals working as travel agents in Ontario fulfil under TICO standards?

Accepted Answer

Completion of the TICO Education Standards exam

Answer

A university degree in hospitality or tourism

Answer

A recognized college diploma in travel and tourism

Answer

Five years of documented experience in the travel industry

Question 4

If a travel agency operates three branch locations in Ontario, how must those locations be registered with TICO?

Accepted Answer

Each branch location must hold its own separate TICO registration

Answer

Only the head office needs to be registered on behalf of all branches

Answer

A single registration automatically covers all branch locations

Answer

Branches require registration only if they employ more than three agents

Question 5

Can a travel agent based in another Canadian province sell travel services to Ontario consumers without registering with TICO?

Accepted Answer

No, they must register with TICO if selling to Ontario consumers

Answer

Yes, provincial registrations are mutually recognized across Canada

Answer

Yes, provided they are registered in their home province

Answer

Only if they complete fewer than 10 Ontario transactions per year

Question 6

What type of insurance are travel agents registered with TICO required to carry?

Accepted Answer

Errors and omissions (E&O) insurance

Answer

General liability insurance

Answer

Business interruption insurance

Answer

Directors and officers (D&O) insurance

Question 7

What financial requirement must a travel agent applicant demonstrate to obtain TICO registration?

Accepted Answer

Adequate financial resources to operate as a travel agent

Answer

Annual revenue of at least $500,000

Answer

A minimum bank balance of $50,000 in a trust account

Answer

Personal net worth exceeding $100,000