We examine the reliability of the tip of the red giant branch (TRGB) as a distance indicator for stellar populations with different star formation histories (SFHs) when photometric errors and completeness corrections at the TRGB are small. In general, the TRGB-distance method is insensitive to the shape of the SFH except when it produces a stellar population with a significant component undergoing the red giant branch phase transition. The I-band absolute magnitude of the TRGB for the middle and late stages of this transition (~1.3-1.7 Gyr) is several tenths of a magnitude fainter than the canonical value of M_I ~ -4.0. If more than 30% of all stars formed over the lifetime of the Universe are formed at these ages, then the distance could be overestimated by 10-25%. Similarly, the TRGB-distance method is insensitive to the metallicity distribution of stars formed except when the average metallicity is greater than = -0.3. If more than ~70% of all stars formed have [Fe/H] > -0.3, the distance could be overestimated by ~10-45%. We find that two observable quantities, the height of the discontinuity in the luminosity function at the TRGB and the median (V-I)_0 at M_I = -3.5 can be used to test if the aforementioned age and metallicity conditions are met.

41 pages, 30 figures, uses emulateapj5.sty, accepted to ApJS, high resolution figures available at http://www.astro.ufl.edu/~mbarker/trgb_figs