TICO Registration Requirements 2

Question 1

How often must TICO registrants renew their registration to remain in good standing?

Accepted Answer

Annually (once per year)

Answer

Every 6 months

Answer

Every 2 years

Answer

Every 3 years

Question 2

What is the legal consequence of operating as a travel agent in Ontario without a valid TICO registration?

Accepted Answer

The operator is committing an offence under the Travel Industry Act, 2002

Answer

A warning letter is issued for a first offence

Answer

The operator is penalized only if a consumer complaint is filed

Answer

The operator simply pays a late renewal fee to regularize their status

Question 3

Which individuals associated with a corporate travel agency applicant must personally meet TICO's fit and proper requirements?

Accepted Answer

Directors and officers of the corporation

Answer

All employees, regardless of role

Answer

Only the registered travel agent employees

Answer

The senior accountant and financial officers only

Question 4

Under what general standard can TICO refuse to grant registration to an applicant?

Accepted Answer

If the applicant is not fit and proper to carry on business as a registrant

Answer

Only if the applicant has been convicted of criminal fraud

Answer

Only if the applicant has prior travel industry complaints on record

Answer

If the applicant has previously operated in another Canadian province

Question 5

What must a registrant do when there is a material change to information previously submitted to TICO in their registration application?

Accepted Answer

Notify TICO of the change within the required timeframe

Answer

Wait until the next annual renewal cycle to update the information

Answer

Report changes only if they directly affect consumer-facing operations

Answer

File an amendment only if TICO specifically requests an update

Question 6

What is the primary purpose of TICO's fit and proper assessment during the registration process?

Accepted Answer

To determine whether an applicant has the character and competence to protect consumers

Answer

To ensure applicants hold formal travel industry education certificates from accredited institutions

Answer

To verify that applicants have sufficient revenue to pay annual TICO fees

Answer

To confirm that applicants have at least three years of industry experience

Question 7

Which statement about TICO registration for travel wholesalers is accurate?

Accepted Answer

Travel wholesalers operating in Ontario must be registered with TICO under the Travel Industry Act, 2002

Answer

Travel wholesalers who sell only to travel agents and not directly to consumers do not need TICO registration

Answer

Travel wholesalers are federally regulated and are exempt from TICO registration

Answer

Travel wholesalers only require registration if they also act as retail travel agents