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| Certification Vendor: | RIBO (Registered Insurance Brokers of Ontario) |
|---|---|
| Exam Name: | RIBO Level 1 Entry-Level Broker Examination |
| Exam Number: | RIBO-Level-1 |
| Exam Format: | Multiple Choice |
| Related Certifications: | RIBO Level 2 Broker License RIBO Level 3 Broker License |
| Available Languages: | English |
| Recommended Training: | RIBO Education Programs (Approved Providers) |
| Exam Registration: | RIBO Official Registration Portal |
| Sample Questions: | IIC RIBO-Level-1 Sample Questions |
| Exam Way: | Computer-based exam (in-person or authorized testing center depending on RIBO scheduling). |
| Pre Condition: | Must meet RIBO licensing eligibility requirements including approved education program completion before licensing. |
| Official Syllabus URL: | https://www.ribo.com |
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NEW QUESTION # 125
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: B
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 # 126
How many hours of Continuing Education (CE) on a yearly basis is required for a RIBO level 1 Broker to maintain their license?
Answer: A
Explanation:
The Continuous Learning and Development competency is a regulatory requirement under RIBO By-Law No.
3. To ensure that brokers remain current with evolving legislation (like the 2026 SABS reforms), industry trends, and ethical standards, RIBO mandates a specific number of Continuing Education (CE) hours each year. For a standard Level 1 (or "All Other Licensed Individuals") broker, the requirement is 8 hours per term (October 1st to September 30th).
These 8 hours are not just general study; they must be allocated into specific categories defined by RIBO:
* Minimum 1 hour of Ethics: Ensuring the broker remains grounded in the Code of Conduct.
* Minimum 3 hours of Technical: Focused on insurance products, the RIB Act, and the OAP 1.
* Remaining 4 hours: Can be a mix of technical, management, or professional development (though professional development is capped at 2 hours).
Failure to meet these requirements can lead to the suspension of the broker's license, as maintaining competence is a prerequisite for public protection. The RIBO Level 1 Blueprint stresses that brokers are responsible for their own "Information Management" regarding CE credits-they must keep certificates for five years for potential "spot checks." This commitment to learning ensures that the broker can continue to provide high-quality Consulting and Advising to the public. For new licensees, this requirement begins the first full October following their registration.
NEW QUESTION # 127
Which of the following actions is MOST appropriate for a RIBO Level 1 licensee working under the supervision of a Principal Broker?
Answer: D
Explanation:
This question defines the core of the "Level 1 - Acting Under Supervision" license. Under RIBO By-Law No.
3 and the RIB Act, a Level 1 broker is legally required to work under the direction and supervision of a Principal Broker or a designated supervising broker.
The Professionalism, Integrity, and Ethics competency requires the broker to understand the boundaries of their license. A Level 1 broker does not yet have the legal authority or experience to establish firm-wide policies (Option A) or to operate without oversight (Option C). The Principal Broker is the individual ultimately responsible to RIBO for the brokerage's compliance. Therefore, the most appropriate professional action is to recognize the limits of one's own knowledge and seek guidance.
The RIBO Competency Profile states that an entry-level broker must demonstrate "accountability" by identifying when a situation exceeds their current expertise. This collaborative relationship ensures that the client receives accurate advice while the Level 1 broker continues their Continuous Learning and Development. Supervision is not just a regulatory hurdle; it is a consumer protection mechanism. By relying on the Principal Broker for guidance, the licensee ensures that all Consulting and Advising activities are compliant with the Code of Conduct. This protects the brokerage from Errors and Omissions (E&O) and ensures the broker is following the "plan of supervision" mandated by RIBO guidelines.
NEW QUESTION # 128
When MUST brokers disclose conflicts of interest under the RIBO Mandatory Disclosures Guidance?
Answer: D
Explanation:
The correct answer is A. . RIBO's Mandatory Disclosures Guidance states that conflict of interest disclosures must be made as soon as possible and no later than at the time of quote . RIBO updated the guidance in 2024 specifically to clarify the timing requirement and moved away from later disclosure practices. The guidance says disclosures should be given before the client agrees to purchase the policy , with written confirmation and proper recordkeeping in the client file.
This means B. is not correct because disclosure is not tied only to the sending of a renewal notice. For renewals, if a new conflict arises, it must be disclosed when the policy is set to renew, and it may be included in the renewal package, but that does not replace the general rule about timing. C. is wrong because waiting until after policy issuance would be too late. D. is also wrong because disclosure is mandatory , not optional based on whether the client asks.
From a RIBO compliance perspective, the broker must make the disclosure clearly, draw it to the client's attention, confirm it in writing, and maintain records showing the requirement was met.
NEW QUESTION # 129
Laws regulating the zoning, demolition, repair or construction of buildings and their related services can increase costs of repair to buildings. Can these increased costs be insured?
Answer: B
Explanation:
The correct answer is B . Increased costs caused by by-laws, zoning requirements, demolition rules, building code upgrades, and similar legal requirements are generally known as by-law or ordinance exposures . These added costs are not automatically covered in every property policy , but they can be insured when specifically included by endorsement or wording in the property policy .
This is why A is incorrect. These costs are not inherently uninsurable; insurers commonly offer coverage for them, especially in commercial property and some habitational forms, where rebuilding must comply with current by-laws or construction standards after a loss. C is too specific and unreliable as a general rule because there is no universal "10% extension clause" that automatically applies to all property policies in the way described. D is also incorrect because this exposure is not limited to "All Risks" forms only; the key issue is whether the policy specifically provides coverage for the increased cost of construction or demolition required by law.
From a RIBO standpoint, this question tests product knowledge and the broker's duty to recognize when a standard property form may not fully respond to a rebuilding loss. The broker should identify this exposure and discuss whether By-Laws coverage or Increased Cost of Construction coverage should be added to the policy.
NEW QUESTION # 130
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