Ribo - Study guides, Class notes & Summaries

Ontario Auto Exam (RIBO) Questions and Answers Latest Update 2025 1: What does RIBO stand for? - correct answer - Registered Insurance Brokers of Ontario. 2: What is the primary purpose of auto insurance in Ontario? - correct answer - To provide financial protection against physical damage and bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. 3: What is the minimum required auto insurance coverage in Ontario? - corr...

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...

RIBO – Habitational Questions with Correct Answers

ONTORIO AUTO (RIBO) EXAM QUESTIONS WITH ACCURATE SOLUTIONS (A+ graded).

RIBO General Insurance Essentials - C81 + C82 100% Correct

RIBO Insurance Practice Exam Solved 100% Correct

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...

Ribo - chapter 1 Latest Update with Certified Solutions Insurance The undertaking by one person to imdemnify 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 thr happening of a certain event. 5 functions of insurance 1. Spread of risk. 2. Basis of credit system. 3. Eliminates worry - encourages entrepreneurship. 4. Loss prevention and loss reduc...

RIBO Insurance Course Practice Questions and Answers Week 4