Ribo practice exam - Study guides, Class notes & Summaries

BB Practice Test 2 RIBO UPDATED Exam Questions and CORRECT Answers As a broker holding a restricted license you are not able to: a) Sell insurance policies on behalf of more than one insurer b) Open and operate a trust account c) Counsel Potential clients on the insurance choices available d) Bind coverage - Correct Answer- b Rules and agreements concerning binding insurance coverage by brokers are

©THEBRIGHTSTARS 2024 RIBO EXAM (practice online) Questions With Correct Answers. Risk - answerChance of Loss- where the object of insurance maybe exposed Peril - answerCause of loss (wind, fire, water) Indemnification - answerWhen insurer provides exact amount of loss, no more no less - provided in money or another item of similar value Covered losses - answerAccidental and future (not on purpose or in the past) Alternatives to payment - answerRepair or replacement three types of insur...

RIBO ACT INFORMATION EXAM QUESTIONS WITH CERTIFIED SOLUTIONS incapicitated member a member suffering froma physical or mental condition or disorder and can no longer carry on business as a registered insurance broker, this is typically determiend by the manager. insurance broker any person who for any comepnsation, commission or other thing of calue, with respect to persons or property in ontario, deals directly with the public. member an individual, partnership or corporating registered under...

RIBO EXAM (practice online)

Saskatchewan d) Ontario and Nova Scotia - answerC Of the following, the person who most clearly has an insurable interest in an automobile is? a) The person who actually owns the automobile b) The person whose name appears on the auto insurance policy c) A person who has a lien on the auto d) A person who can legally drive the insured auto - answerA When there is an auto loss, the insured is required to: a) Abandon the automobile to the possession of the insurer b) Protect the automobil...

RIBO Exam 1 Practice Questions

RIBO Exam 1 Practice Questions.

RIBO EXAM (practice online)

RIBO EXAM (practice online)