Ribo exam 1 - Study guides, Class notes & Summaries
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ONTARIO AUTO EXAM (RIBO) UPDATED Exam Questions and CORRECT Answers
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ONTARIO AUTO EXAM (RIBO) 
UPDATED Exam Questions and 
CORRECT Answers 
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. - Correct Answer- A. O.A.P. 1 Owner Form,
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RIBO Exam (Ch 1-4) Latest 2023 Graded A
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RIBO Exam (Ch 1-4) Latest 2023 Graded A Insured A person or entity who purchases an insurance policy. 1st party 
Insurer The insurance company who issues an insurance policy. 2nd party 
Lessor a person or entity that grants a lease (bank) 
Lessee A person who purchases the lease 
Mortgagee A person or entity that provides a loan (bank) 
Mortgagor A person who borrows money 
Chinese Shippers -Around 2000 BCE -First group to demonstrate "risk mitigation" -They used to separate boats for each goo...
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RIBO ENTRY LEVEL 1 UPDATED Exam Questions and CORRECT Answers
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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 Level 1 Exam with complete solution
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RIBO Level 1 Exam with complete solution
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RIBO UPDATED Exam Questions and CORRECT Answers
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RIBO UPDATED Exam Questions and 
CORRECT Answers 
The Manager, under the RIBO Act, may cancel the license of a member for non-payment of 
any prescribed fee after giving the member at least: - Correct Answer- 1 month notice in 
writing of the default and intention to cancel the registration subject to the continuing 
jurisdiction of the Corporation.
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RIBO Exam Questions and Answers Already Passed
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RIBO Exam Questions and Answers Already Passed 
The Manager, under the RIBO Act, may cancel the license of a member for non-payment of any prescribed fee after giving the member at least: 1 month notice in writing of the default and intention to cancel the registration subject to the continuing jurisdiction of the Corporation. 
Upon successful completion of the examination, you may qualify for registration as an insurance broker. If issued, the registration will be "restricted to acting under s...
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ONTARIO AUTO EXAM (RIBO) QUESTIONS AND ANSWERS ALREADY PASSED
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ONTARIO AUTO EXAM (RIBO) QUESTIONS AND ANSWERS ALREADY PASSED 
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. A. O.A.P. 1 Owner Form, suitably endorsed. 
Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Covera...
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RIBO EXAM LEVEL 1 2024 WITH ACCURATE SOLOTIONS
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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 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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Portage Learning Chem 210 Module EXAM 6
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Portage Learning Chem 210 Module EXAM 6 Question 1 3 / 3 pts In DNA, adenine always pairs with . Correct! Thymine Guanine Uracil Cytosine Both A and B Question 2 3 / 3 pts DNA is built from which of the following? Nucleosides Genes Purines Correct! Nucleotide Codons Question 3 3 / 3 pts The double helix of DNA is stabilized mainly by . Ionic bonds Covalent bonds Ion-dipole bonds Correct! Hydrogen bonds Hydrogen covalent bonds Question 4 3 / 3 pts Which of the following pentose sugars is a consti...
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