Ribo act - Study guides, Class notes & Summaries
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RIBO ACT -Quiz 1 Well Answers!!
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RIBO ACT -Quiz 1 Well Answers!!
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RIBO – General Questions and Answers Already Graded A
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RIBO – General Questions and Answers Already Graded A Which of the following provinces offer only government compulsory auto insurance? British Columbia, Manitoba and Saskatchewan 
The definition of ordinary negligence? Is the failure to do what a reasonable person would do in a given situation. 
A broker/agent is responsible for what? Writing only those classes of business acceptable to his/her insurer. 
An insurance contract contains all of the elements of any other legal contract. One eleme...
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RIBO FINAL EXAM 2024
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RIBO FINAL EXAM 2024...
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RIBO PRACTICE EXAM 2024
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RIBO PRACTICE EXAM 2024...
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RIBO EXAM QUESTIONS WITH 100% CORRECT SOLUTIONS ALREADY PASSED!!
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Which of the following statements best describes actual cash value? - Answer-The replacement cost 
at the time of loss less depreciation 
Personal injury liability under the Commercial General Liability Policy covers sums that the insured 
becomes legally obligated to pay: - Answer-Because of injury to a person's character by such things 
as false arrest or malicious prosecution. 
Under an automobile policy, property damage means damage to which of the following? - AnswerProperty of others but ...
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RIBO TOP TESTED QUESTIONS & ANSWERS 2024 (UPDATE)
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Those exempt from RIB Act. - lawyers, agents, accountants, adjusters, travel insurance 
agents, admin staff, trustee, reinsurance broker. 
Who can be a broker? - - age of majority 
- of good character 
- no criminal charges 
- no refused, suspended or revoked licenses 
- meet educational and experience requirements of Qualification and Registration Committee. 
- complies with Act 
- only business is Insurance Broker 
Insurance Broker defined: - Any person who for any commission, compensation or...
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Level 2 Management – RIBO Questions and Answers Already Passed
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Level 2 Management – RIBO Questions and Answers Already Passed 
What are the provisions and responsibilities of direction and supervision of the principal broker? 1. To ensure all registered insurance brokers who are employees or partners comply with this act, regulations and by-laws 
2.Ensure all brokers who are employees are provided the necessary information respecting insurance for them to act in accordance of the code of conduct and be competent as outlined by the act 
3. All registered i...
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RIBO ACT -Exam Questions With Correct Answers.
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RIBO ACT -Exam Questions With Correct 
Answers. 
An insurance broker - answermeans any person who for compensation, commission or other 
thing of value, with respect to person or property in Ontario, deals directly with public and holds 
himself, herself or itself out as : 
1. acts or aids in negotiating the contracts of insurance 
2. provides risk management service 
3. makes recommendations or gives advice regarding the insurance plan 
A manager may cancel a registration when: - answer1. for n...
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RIBO regulations (with Complete Solutions)
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What does ribo stand for? correct answers Registered Insurance Broker of Ontario 
 
Who does the RIB act protect? correct answers The insurance consumer 
 
What are 3 things a broker with a restricted license (acting under supervision) may not do? correct answers Control trust funds, act as principal broker, or operate as a sole proprietor 
 
When do ribo licenses expire? correct answers August 31 
 
Bailee vs. Bailor correct answers A Bailee is someone to whom goods are entrusted for a stated p...
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RIBO – General Questions and Answers Latest Version 100% Graded A+
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Which of the following provinces offer only government compulsory auto insurance? - British Columbia, Manitoba and Saskatchewan 
 
The definition of ordinary negligence? - Is the failure to do what a reasonable person would do in a given situation. 
 
A broker/agent is responsible for what? - Writing only those classes of business acceptable to his/her insurer. 
 
An insurance contract contains all of the elements of any other legal contract. One element that must also be contained in a valid co...
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