Ribo level 1 exam - Study guides, Revision notes & Summaries
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RIBO LEVEL 1 EXAM WITH QUESTIONS AND ANSWERS
- Exam (elaborations) • 30 pages • 2024
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RIBO LEVEL 1 EXAM WITH QUESTIONS AND ANSWERS ...
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RIBO Level 1 Exam Definition
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Indemnify Correct Answer-The action of compensating an insured following a loss under the insurance policy. 
 
Risk Correct Answer-The chance of loss; 
or an object or activity that is insured (about to be insured) 
 
Peril Correct Answer-An event that may cause a loss to occur 
 
Object of Insurance Correct Answer-The item that is insured or covered in an insurance policy
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RIBO Level 1 Exam with complete solution
- Exam (elaborations) • 6 pages • 2024
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RIBO Level 1 Exam with complete solution
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RIBO ENTRY LEVEL 1 EXAM WITH QUESTIONS AND ANSWERS
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RIBO ENTRY LEVEL 1 EXAM WITH QUESTIONS AND ANSWERS ....
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RIBO Bundled Exams with complete solution;Everything you need to pass RIBO is here.
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RIBO exam prep 2023 with complete solution
ONTARIO AUTO EXAM (RIBO) LATEST 2023 UPDATE WITH COMPLETE SOLUTION
RIBO Practice Test 5a Auto Questions and Answers 2023 with complete solution
RIBO: ENTRY LEVEL 1 STUDY GUIDE 2023 WITH COMPLETE SOLUTION
BB Practice Test 2 RIBO Actaul Questions and Answers 2023 with complete solution
RIBO Exam Fall 2023 wi
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RIBO ENTRY LEVEL 1 UPDATED Exam Questions and CORRECT Answers
- Exam (elaborations) • 15 pages • 2024
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RIBO ENTRY LEVEL 1 UPDATED Exam 
Questions and CORRECT Answers 
Risk - Correct Answer- Chance of a loss 
Which type of risk is insured and why? - Correct Answer- Pure risk, because speculative risk 
is comparable to gambling. 
3 Ways risk (management) is dealt with? - Correct Answer- REDUCE: preventative measures 
ASSUME/RETAIN: Self-insure 
TRANSFER: purchase insurance
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RIBO EXAM LEVEL 1 2024 WITH ACCURATE SOLOTIONS
- Exam (elaborations) • 15 pages • 2024
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What is General Insurance also known as? - AnswerProperty and Casualty (P&C) Insurance 
 
RIBO is not a - AnswerTrade Association 
 
Define Insurance - AnswerThe undertaking by one person to indemnify another person against loss or liability for loss in respect of a certain risk or peril to which the object of insurance may be exposed, or to pay a sum of money or other thing of value upon the happening of a certain event 
 
When was The Great Fire of London? - Answer1666 
 
What is property? - A...
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RIBO Level 1 Exam Questions With Correct Answers.
- Exam (elaborations) • 6 pages • 2024
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RIBO Level 1 Exam Questions With 
Correct Answers. 
Indemnify - answerThe action of compensating an insured following a loss under the 
insurance policy. 
Risk - answerThe chance of loss; 
or an object or activity that is insured (about to be insured) 
Peril - answerAn event that may cause a loss to occur 
Object of Insurance - answerThe item that is insured or covered in an insurance policy 
Indemnity - answerto put you back in the same financial position (just prior to loss) NO 
BETTER NO WORS...
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RIBO: ENTRY LEVEL 1 Exam Prep Latest Version 2024/2025 Expert-Verified Q&As
- Exam (elaborations) • 15 pages • 2024
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10 Included ONT. automobiles in OAP #1 
(PT 
BMS 
RAT 
LC) - Private passenger vehicle 
Trucks 
Buses 
Motorcycle 
Snowmobiles 
Recreational vehicle (RV) 
All-Terrain Vehicles (ATV) 
Trailers 
Leased Vehicles 
Commercial Vehicles 
2% Waiver - Pay loss in full (LOSS) 
3 Ways risk (management) is dealt with? - REDUCE: preventative measures 
ASSUME/RETAIN: Self-insure 
TRANSFER: purchase insurance
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RIBO Level 1 Exam
- Exam (elaborations) • 6 pages • 2024
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RIBO Level 1 Exam
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