TICO's Role in the Travel Industry
Module 1
1 Business Strategy - correct answer-develops and monitors TICO's business policies and
plans and works on TICO's consumer awareness campaign.
10. Education Standards - correct answer-is involved in the development and
implementation of the Education Standards program.
2. Compensation Fund - - correct answer-reviews and makes recommendationsto the Board
regarding the payment of claims against the fund.
3. Complaints - correct answer-reviews, monitors, and addresses complaints
against TICO and makes recommendations regarding
TICO's complaints procedures and standards.
4. E-Commerce - correct answer-reviews e-commerce issues to identify
challenges and make recommendations regarding
consumer protection and the delivery of TICO's
services through the Internet.
5. Executive - correct answer-reviews large closures, manages emergency issues, provides
support to the CEO, and makes recommendations regarding the composition of Board
committees.
6. Governance - correct answer-reviews criteria, communication, and retention
issues related to Board membership, and helps clarify
the Board's role and responsibilities.
7 .Legislative and Regulatory Review - correct answer-works closely with stakeholders,
including the Ministry, on issues where legislative or regulatory changes would be beneficial.
8. Alternate Finance - correct answer-makes recommendations to the Board with respect to
alternative methods of financing the Travel Industry Compensation Fund.
9. Audit - correct answer-reviews internal controls, accounting and investment
policies, investment reports, and financial statements
of the organization and reports to the Board.
The Travel Industry Compensation Fund (or, simply, Compensation Fund) - correct
answer-refunds (fully or in part) eligible consumers who
bought travel services from an Ontario-registered travel
agency but did not receive them because of the bankruptcy or insolvency of a registrant or
an airline or cruise line end supplier.
Module 1
1 Business Strategy - correct answer-develops and monitors TICO's business policies and
plans and works on TICO's consumer awareness campaign.
10. Education Standards - correct answer-is involved in the development and
implementation of the Education Standards program.
2. Compensation Fund - - correct answer-reviews and makes recommendationsto the Board
regarding the payment of claims against the fund.
3. Complaints - correct answer-reviews, monitors, and addresses complaints
against TICO and makes recommendations regarding
TICO's complaints procedures and standards.
4. E-Commerce - correct answer-reviews e-commerce issues to identify
challenges and make recommendations regarding
consumer protection and the delivery of TICO's
services through the Internet.
5. Executive - correct answer-reviews large closures, manages emergency issues, provides
support to the CEO, and makes recommendations regarding the composition of Board
committees.
6. Governance - correct answer-reviews criteria, communication, and retention
issues related to Board membership, and helps clarify
the Board's role and responsibilities.
7 .Legislative and Regulatory Review - correct answer-works closely with stakeholders,
including the Ministry, on issues where legislative or regulatory changes would be beneficial.
8. Alternate Finance - correct answer-makes recommendations to the Board with respect to
alternative methods of financing the Travel Industry Compensation Fund.
9. Audit - correct answer-reviews internal controls, accounting and investment
policies, investment reports, and financial statements
of the organization and reports to the Board.
The Travel Industry Compensation Fund (or, simply, Compensation Fund) - correct
answer-refunds (fully or in part) eligible consumers who
bought travel services from an Ontario-registered travel
agency but did not receive them because of the bankruptcy or insolvency of a registrant or
an airline or cruise line end supplier.
