TICO Travel Compensation Fund 4

Question 1

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

Accepted Answer

$10,000

Answer

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

Question 2

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

Accepted Answer

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

Answer

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

Question 3

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

Accepted Answer

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

Answer

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

Question 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?

Accepted Answer

Proof of payment such as a receipt or bank statement

Answer

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

Question 5

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

Accepted Answer

TICO administers the claims process and distributes Fund payments

Answer

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

TICO - Travel Industry Council of Ontario Practice Test

TICO - Travel Industry Council of Ontario Practice Test

TICO Travel Compensation Fund 4