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TICO Chapter 1 questions and answers
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TICO Chapter 1 questions and answers
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TICO Chapter 1**Commissions Repayment by Registrant:** - correct answer-- If services are not received,
registrants repay commissions.
- Excludes counseling fees.
- No double reimbursement if the Compensation Fund already paid.
**Consumer Fund Claims:** - correct answer-- Consumers can claim against the Fund for
non-provision of services.
- Limited to bankruptcy/insolvency of registrant or end supplier failure.
**Filing Deadline Reminder:** - correct answer-- Standard claim within six months.
- Trip completion expense claim within six months after registrant failure.
- Late claims are not valid, and TICO has no authority for late approvals.
Commissions Repayment: - correct answer-- If a customer hasn't received paid services, the
registrant repays commissions.
Compensation Fund: - correct answer-- Industry-financed fund administered by TICO.
Consumer Claims - correct answer-- Claims against the Fund only for:
- Bankruptcy/insolvency of a registrant.
- Failure of an airline or cruise line end supplier.
Filing Deadline: - correct answer-Standard claim within six months of failure.
- Trip completion expense claim within six months of registrant failure.
- No valid claims accepted after the specified time period.
Licence Appeal Tribunal (LAT): - correct answer-- Independent tribunal hearing appeals
related to TICO decisions.
Outside Sales Representative - correct answer-- A travel counsellor working outside the
registered office.
- Sales must go through the registered travel retailer.
- May work for a travel wholesaler contacting retailers.
- Bound by laws and needs a written contract.
Registrant: - correct answer-- Registered travel retailer or wholesaler in Ontario.
Registrar: - correct answer-- Appointed by TICO's Board of Directors.
- Supervises Act and Regulation administration.
- Up to two Deputy Registrars.
Regulatory Structure: - correct answer-- Ministry of Public and Business Service Delivery:
- Oversees the Travel Industry Act, 2002.
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