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| Certification Vendor: | Registered Insurance Brokers of Ontario (RIBO), Insurance Institute of Canada (IIC) |
|---|---|
| Exam Name: | RIBO Level 1 Entry-Level Broker Exam |
| Exam Number: | RIBO-Level-1 |
| Real Exam Qty: | 100 scored + 15 unscored pilot questions |
| Exam Price: | 300 USD / CAD 300 |
| Available Languages: | English |
| Passing Score: | 75% (75/100) |
| Exam Duration: | 180 minutes |
| Exam Format: | Multiple-choice questions |
| Certificate Validity Period: | Annual renewal required |
| Related Certifications: | RIBO Level 2 Technical/Commercial Broker License RIBO Level 3 Management Broker License |
| Recommended Training: | Insurance Institute of Canada Preparation Courses RIBO Official Study Materials & Exam Blueprint |
| Exam Registration: | Insurance Institute of Canada (IIC) Insurance Brokers Association of Ontario (IBAO) |
| Sample Questions: | IIC RIBO-Level-1 Sample Questions |
| Exam Way: | Online remote proctored or in-person at approved test centers |
| Pre Condition: | Minimum 18 years old; valid criminal record check; meet suitability requirements; no prior RIBO license required |
| Official Syllabus URL: | https://www.ribo.com/getting-a-license/individual-licenses/new-applicants/examinations/level-1-entry-level-broker-exam/ |
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NEW QUESTION # 53
An insured dies in a fire at their home caused by careless smoking. What action will the insurer of the dwelling take?
Answer: C
Explanation:
This question explores the application of Statutory Conditions and the principle of fortuity in property insurance. Under the Insurance Act of Ontario, fire policies are designed to cover sudden and accidental losses. "Careless smoking" is considered a negligent act, but it is not a "willful" or "criminal" act intended to cause a loss. In insurance law, negligence (even gross negligence) does not void coverage; only intentional acts (arson) do.
Under the RIBO Level 1 Blueprint, a broker must understand Statutory Condition 3 (Change of Interest), which states that the policy does not terminate upon the death of the insured. Instead, the insurance continues for the benefit of the estate or the legal representative of the deceased. The insurer is legally obligated to indemnify the estate for the value of the building and contents, returning the assets to the financial position they were in before the fire.
The broker's role in Consulting and Advising during a fatality involves guiding the surviving family or executor through the Claims Services process. They must explain that a "Proof of Loss" form can be signed by the legal representative (executor) of the estate. Identifying that the contract remains valid despite the death of the named insured is a critical part of Legal and Regulatory Compliance. This scenario reinforces the broker's duty to provide Relationship Management during a sensitive time, ensuring the beneficiaries receive the funds they are contractually entitled to under the law of indemnity.
NEW QUESTION # 54
Adam's primary job is driving for Uber and Lyft. As a self employed contractor what coverage would provide him with the best liability protection while driving?
Answer: C
Explanation:
The correct answer is C. Section 3, Liability, under the OAP1 because liability arising from the ownership, use, or operation of an automobile is handled under the auto policy , not under general business liability forms. Section 3 of the Ontario Automobile Policy (OAP 1. is the part that responds if the insured is legally liable for bodily injury, death, or property damage caused by the automobile.
A). Contractor's Liability is not the proper coverage for automobile operation. That kind of liability is associated with business operations, not motor vehicle liability. D. Comprehensive General Liability (CGL.
also does not provide the best protection for losses arising from driving, because CGL policies generally exclude liability that should be covered under an automobile policy. B. Umbrella Liability may provide excess protection above an underlying auto liability policy, but it is not the primary coverage and cannot replace the need for automobile liability coverage.
From a RIBO perspective, this question tests the broker's ability to match the source of liability to the correct policy form. Since Adam's exposure arises directly from driving , the key liability protection is auto liability under the OAP 1. In practice, a broker would also need to ensure the vehicle is properly rated and endorsed for ridesharing use, because a standard personal auto setup may not be enough for Uber or Lyft activity.
NEW QUESTION # 55
A Broker is given two days notice from an insurance company that they are getting off risk for a small commercial property account. Which regulation or act outlines regulations governing how insurance companies must handle notice's of expiry or variation?
Answer: C
Explanation:
This question clarifies the jurisdictional boundaries of insurance law in Ontario. While the RIB Act (Option A) governs theconduct of brokers, the Insurance Act (Option B) governs theconduct of insurance companies and the mandatory terms of the insurance contracts themselves.
Under the Legal and Regulatory Compliance domain, a broker must know that the Insurance Act sets out the minimum requirements for how an insurer must communicate changes to a policy. Specifically, Statutory Condition 5 (Termination) and the regulations regarding the "Notice of Variation" or "Notice of Non- Renewal" mandate much longer timeframes than "two days." Typically, an insurer must provide at least 30 days' notice (and in some cases up to 45-60 days for specific classes) if they do not intend to renew a policy or if they are significantly changing the terms.
The RIBO Level 1 Blueprint requires brokers to act as the client's advocate when an insurer attempts to "get off risk" improperly. If a broker receives only two days' notice, they must recognize this as a violation of the Insurance Act. The broker's duty is to inform the insurer of the statutory requirement and protect the client's right to a reasonable transition period to find new coverage. This technical knowledge is essential for Information Management, ensuring that all parties adhere to the provincial standards designed to prevent consumers from being left suddenly uninsured. Understanding these rules is a core part of the Professionalism, Integrity, and Ethics required of an entry-level broker.
NEW QUESTION # 56
An insured is involved in a serious multi-vehicle accident in Ontario. They are 100% at fault for the collision, which resulted in significant injuries to a passenger in another vehicle. The injured party has now filed a lawsuit against your insured. Which part of the O.A.P. 1 will respond to defend the insured and pay the judgment?
Answer: B
Explanation:
This question tests the broker's understanding of the "Claims Table" and the structure of the Ontario Automobile Policy (OAP 1). In the RIBO Level 1 Blueprint, a broker must be able to identify which section of the policy is triggered by specific loss events to provide accurate Claims Services.
Section 3 - Liability (Option A) is specifically designed to protect the insured when they are "legally liable" for the injury or death of others, or for damage to property belonging to others. When a lawsuit is filed (as in this case for the injured passenger), Section 3 provides two critical services:
Duty to Defend: The insurer will provide and pay for legal counsel to defend the insured against the lawsuit.
Indemnity: The insurer will pay the awarded damages up to the limit of liability shown on the certificate (e.g.,
$1,000,000).
Other sections are not applicable here: Accident Benefits (B) only pay the insured's own medical and income needs regardless of fault. DCPD (C) only covers the insured's own vehicle damage when they are not at fault.
Uninsured Auto (D) applies when the other person has no insurance.
Under the Consulting and Advising competency, a broker must stress that being "at fault" does not mean the insured is abandoned by their policy. Section 3 is their primary shield against financial ruin. The broker's role is to ensure the client understands that their liability limit is the "maximum" the company will pay, highlighting why adequate limits (often $2M or $5M in the modern litigious environment) are essential. This technical knowledge ensures the broker provides Information Management that empowers the client during a high-stress legal situation.
NEW QUESTION # 57
Your insured starts operating a dog grooming business in their garage, which is attached to their principal residence insured under a standard homeowner's comprehensive policy. Annual revenue is $10,000, no employees. What is the most appropriate course of action for you as their Broker?
Answer: A
Explanation:
The correct answer is C. because starting a dog grooming business in an attached garage creates a business- use exposure that is outside the normal intent of a standard homeowner's policy unless the insurer specifically accepts it. A broker must recognize that even a small home-based business can create additional risks, including business property, customer property in care, custody or control, liability from clients visiting the premises, injury to animals, and increased activity in the home. The fact that the client still lives there does not remove the business exposure.
A). is incorrect because owner occupancy does not mean the policy automatically covers business operations.
B). is also incorrect because the size of the revenue alone does not determine whether coverage is acceptable; many insurers focus on the nature of the business , not just income. D. is wrong because the risk already exists now, even without employees or full-time operations.
From a RIBO perspective, the broker's duty is to identify the material change, explain the coverage concern, and advise that the insurer may require either a home-based business endorsement or a separate commercial policy . Proper advice protects the client from a possible denial arising from undisclosed business activity and ensures the coverage matches the actual exposure.
NEW QUESTION # 58
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