100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
ONTARIO AUTO EXAM (RIBO) Questions and Correct Answers & Latest Updated $13.49   Add to cart

Exam (elaborations)

ONTARIO AUTO EXAM (RIBO) Questions and Correct Answers & Latest Updated

 4 views  0 purchase
  • Course
  • ONTARIO
  • Institution
  • ONTARIO

Your client calls to advise he/she needs insurance on a car leased from an automobile dealer. Which one (1) of the following policies is required? A. O.A.P. 1 Owner Form, suitably endorsed. B. O.P.F. #2 Driver's Form. C. O.P.F. #6 Non-owned Automobile Form, suitable endorsed. D. Garage Auto F...

[Show more]

Preview 4 out of 60  pages

  • August 25, 2024
  • 60
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • ONTARIO
  • ONTARIO
avatar-seller
ExamArsenal
1|Page: 2024/2025 Grade A+




ONTARIO AUTO EXAM (RIBO) Questions and
Correct Answers & Latest Updated
Your client calls to advise he/she needs insurance on a car leased from an automobile

dealer. Which one (1) of the following policies is required?




A. O.A.P. 1 Owner Form, suitably endorsed.

B. O.P.F. #2 Driver's Form.

C. O.P.F. #6 Non-owned Automobile Form, suitable endorsed.

D. Garage Auto Form, suitably endorsed.


o :## A. O.A.P. 1 Owner Form, suitably endorsed.



Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Coverages, is usually

subject to a deductible. It does not apply to damage caused by:




A. Windstorm

B. Explosion

C. Vandalism

D. Fire




(P48. only fire + lightening /no deductible for fire + lightening)




Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

,2|Page: 2024/2025 Grade A+

o :## D. Fire



Uninsured Automobile coverage:




A. Must be added by endorsement to O.A.P. Owner's Form

B. Only cover's bodily injury, but never property damage.

C. Can cover accidental damage to the insured's automobile, provided the uninsured owner

or the driver of the actual automobile is identified.

D. Provides coverage for third parties if the insured causes bodily injury and has breached a

statutory condition.




P.30 52.3 (Uninsured needs to be identified in order to be categorized under uninsured

insurance hence needs to be identified first, to make sure he did not have

coverage/insurance in reality)


o :## C. Can cover accidental damage to the insured's automobile, provided the uninsured
owner or the driver of the actual automobile is identified.



A client phones to tell you he has brought a high-end stereo system costing $5,000, which

has been installed in his car. What should you tell him?




A. Be sure to always lock the car, as there is no coverage if the system costing $5,000 is

stolen when the car is unlocked.

B. There is no coverage on the system without an approved security system in the car.


Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

,3|Page: 2024/2025 Grade A+


C. No further action is needed. The new system is automatically covered under his O.A.P. 1

Owners's Form as a part of the car.

D. To provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Form

endorsed to cover its full value.


o :## D. To provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Form
endorsed to cover its full value.



One of the following statements is correct. Which one (1) is it? Electronic accessories or

equipment are covered under O.A.P. 1 Owner's Form:




A. For the full replacement cost.

B. Up to $2,500 if installed after the vehicle is purchased

C. For the actual cash value if factory installed.

D. For the actual cash value.




Page 52.


o :## C. For the actual cash value if factory installed.



Your insured parks his/her automobile at a shopping mall and on his/her return it has been

damaged by another vehicle. Your insured has O.A.P. 1 Owner's Form with Liability, Accident

Benefits, Comprehensive and OPCF44, Family Protection Endorsement coverages. What

section would cover the damage?




Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

, 4|Page: 2024/2025 Grade A+


A. Comprehensive

B. OPCF 44, Family Protection Endorsement

C. Liability

D. There would be no coverage




This type of loss would be covered under Collision or All perils, and the insured does not

have either of those coverages.


o :## D. There would be no coverage.



Insured under Section 7 of O.A.P. 1 Owner's Form, Loss or Damage Coverages, is usually

subject to a deductible. It does not apply to loss or damage caused by:




A. Water

B. Lightening

C. Vandalism

D. Windstorm




Page 48.: If you are insured for loss or damage caused by fire or lightening, there is no

deductible for these losses.


o :## B. Lightening




Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamArsenal. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82191 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart