TICO Module #5 Exam | Questions with 100%
Correct Answers | Verified | Latest Update 2026
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Terms in this set (24)
What makes up the Fund? Contributions made by registrants
Any money borrowed under this or an earlier
Regulation
Recoveries of money paid from the Fund
Income earned on the money in the Fund.
What circumstances must the Registrant is bankrupt or insolvent or has ceased to
registrant reimburse the Fund for any carry on business
claims paid to the registrant's client? Registrant purchased travel services on the clients
behalf, extending credit to the client, and the client
paid the registrant for the services, after the
supplier of the services became bankrupt or
insolvent or ceased to carry on business.
, What are the 2 possible types of 1. Standard Claim; For services that were paid for
claims on the Fund? but weren't provided as a result of a failure of an
Ontario-registered agent or wholesaler or airline
or cruise line. Clients, agents or wholesalers may
make a standard claim.
2. Trip Completion Expense Claim; A claim
reasonable expenses incurred to complete a trip
where a client or another person began a trip they
cannot complete due to services not being
provided as the result of the failure of a TICO
registrant. Clients, or agents may make a trip
completion expense claim.
What reasons may a claim be made Bankruptcy or insolvency of a registrant
against the Fund for the non- Failure of an airline or cruise line end supplier.
provision of the services?
When can a Travel Agent make a If the Following Requirements are Met
claim on the Fund? 1. Client must have booked and paid for the
services through an Ontario-registered travel
agency
2. The agent must have dealt with a registered
wholesaler, an airline or cruise line in good faith
and at arm's length
3. The agent has either; Refunded the client,
Provided alternative services for the client because
the original services weren't provided because of a
registrant or airline or cruise line failure
4. Its clear that the client would have an eligible
claim against the Fund.
Correct Answers | Verified | Latest Update 2026
Save
Terms in this set (24)
What makes up the Fund? Contributions made by registrants
Any money borrowed under this or an earlier
Regulation
Recoveries of money paid from the Fund
Income earned on the money in the Fund.
What circumstances must the Registrant is bankrupt or insolvent or has ceased to
registrant reimburse the Fund for any carry on business
claims paid to the registrant's client? Registrant purchased travel services on the clients
behalf, extending credit to the client, and the client
paid the registrant for the services, after the
supplier of the services became bankrupt or
insolvent or ceased to carry on business.
, What are the 2 possible types of 1. Standard Claim; For services that were paid for
claims on the Fund? but weren't provided as a result of a failure of an
Ontario-registered agent or wholesaler or airline
or cruise line. Clients, agents or wholesalers may
make a standard claim.
2. Trip Completion Expense Claim; A claim
reasonable expenses incurred to complete a trip
where a client or another person began a trip they
cannot complete due to services not being
provided as the result of the failure of a TICO
registrant. Clients, or agents may make a trip
completion expense claim.
What reasons may a claim be made Bankruptcy or insolvency of a registrant
against the Fund for the non- Failure of an airline or cruise line end supplier.
provision of the services?
When can a Travel Agent make a If the Following Requirements are Met
claim on the Fund? 1. Client must have booked and paid for the
services through an Ontario-registered travel
agency
2. The agent must have dealt with a registered
wholesaler, an airline or cruise line in good faith
and at arm's length
3. The agent has either; Refunded the client,
Provided alternative services for the client because
the original services weren't provided because of a
registrant or airline or cruise line failure
4. Its clear that the client would have an eligible
claim against the Fund.
