TICO TICO's Role and Mandate 3

Question 1

Under which Ontario legislation does TICO derive its authority to regulate the travel industry?

Accepted Answer

Travel Industry Act, 2002

Answer

TICO administers the Travel Industry Act, 2002, which governs the registration and conduct of Ontario travel agents and wholesalers.

Question 2

Which of the following best describes TICO's status as a regulatory body?

Accepted Answer

A self-funded, delegated administrative authority

Answer

TICO is a delegated administrative authority, meaning it operates independently but administers legislation on behalf of the Ontario government and is self-funded through registrant fees.

Question 3

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

Accepted Answer

To reimburse consumers who suffer financial losses due to a registrant's bankruptcy or fraud

Answer

The Compensation Fund provides financial protection to Ontario consumers who lose money because a TICO-registered travel agent or wholesaler ceases operations or commits fraud.

Question 4

A travel agency in Ontario wants to sell vacation packages to the public. What must it do before operating?

Accepted Answer

Register with TICO and maintain registration in good standing

Answer

All Ontario travel agents and wholesalers who sell travel services to the public must be registered with TICO before they can legally operate.

Question 5

How does TICO enforce compliance with the Travel Industry Act, 2002?

Accepted Answer

Through audits, inspections, investigations, and disciplinary proceedings

Answer

TICO enforces compliance through a range of tools including audits, inspections, investigations, and formal disciplinary processes such as hearings.

TICO - Travel Industry Council of Ontario Practice Test

TICO - Travel Industry Council of Ontario Practice Test

TICO TICO's Role and Mandate 3