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>> Minimum RIBO-Level-1 Pass Score <<
The web-based IIC RIBO-Level-1 practice exam is compatible with all browsers like Chrome, Mozilla Firefox, MS Edge, Internet Explorer, Safari, Opera, and more. Unlike the desktop version, it requires an internet connection. The RIBO Level 1 Entry-Level Broker Exam (RIBO-Level-1) practice exam will ask real RIBO Level 1 Entry-Level Broker Exam (RIBO-Level-1) exam questions.
NEW QUESTION # 172
To establish cause of legal action against someone, what is NOT required to satisfy the court?
Answer: A
Explanation:
This question tests the broker's knowledge of Tort Law versus Contract Law. In the insurance industry, liability claims are usually based on the "Law of Negligence" (a Tort). To win a negligence lawsuit, a plaintiff must prove four specific elements:
* Duty of Care (A): The defendant owed a legal obligation to act reasonably toward the plaintiff.
* Breach of Duty (C): The defendant failed to meet the required standard of care (e.g., they were careless).
* Damage: The plaintiff suffered an actual loss or injury.
* Causation (D): There is a direct "proximate" link between the defendant's breach and the plaintiff's damage.
Consideration (B) is an element of Contract Law, not Tort Law. Consideration refers to "something of value" (like money) exchanged between two parties to make a contract legally binding. While it is essential for the insurance policy itself to be valid, it is not an element used to determine if one person is "liable" for hitting another person with their car or having them slip on their icy sidewalk.
The RIBO Level 1 Blueprint requires brokers to understand these legal foundations to effectively manage Claims Services. When a client is sued, the broker must be able to explain that the court will look for these four elements of negligence. This knowledge is also critical for Consulting and Advising regarding liability limits; if a client's "breach" causes "massive damage," their liability limit is all that stands between them and financial ruin. Distinguishing between the rules for forming a contract (Consideration) and the rules for committing a wrong (Negligence) is a fundamental legal competency for general insurance brokers.
NEW QUESTION # 173
Angela has an automobile policy with Maple Insurance that renews on August 1, 2026. Before July 1, 2026, Angela had Income Replacement Benefits, Caregiver Benefits, and Housekeeping Benefits included in her policy. Angela does not request any changes. Under the updated Statutory Accident Benefits Schedule (SABS), what happens to these benefits after July 1, 2026?
Answer: A
Explanation:
This question addresses the significant 2026 SABS Reform in Ontario, which takes effect on July 1, 2026.
Under this reform, many previously mandatory benefits-such as Income Replacement, Caregiver, and Housekeeping-transition to being optional benefits. The RIBO Level 1 Blueprint requires brokers to understand the transition rules for existing policyholders to avoid coverage gaps and ensure Legal and Regulatory Compliance.
For policies already in force before July 1, 2026, the existing contract remains legally binding until its expiry or renewal date. This means Angela's coverage does not "drop off" or change mid-term on July 1. Her benefits continue under the old rules until her specific renewal date of August 1, 2026. At the point of renewal, the "existing member" transition rule applies: to protect consumers, insurers are required to automatically renew the existing coverage levels as optional selections unless the client expressly chooses to opt out or change them. This ensures that a client who forgets to review their renewal notice is not suddenly left without critical income protection.
As part of the Consulting and Advising competency, a broker must proactively inform clients like Angela that while her benefits are safe until August, her next renewal will reflect a shift from "mandatory" to "optional" status. The broker must conduct a "Needs Assessment" to confirm if these optional benefits still align with her lifestyle (e.g., if she has external disability insurance). Failure to explain this change could lead to an Errors and Omissions (E&O) claim if the client later removes the benefits to save money without understanding the loss of protection. The reform shifts the burden of "choice" to the consumer, making the broker's role as an expert navigator of the OAP 1 more vital than ever.
NEW QUESTION # 174
A building worth $120,000 is insured for $60,000 under a fire policy with an 80% co-insurance clause. Fire damages the building to the extent of $24,000. How much does the insurer pay?
Answer: D
Explanation:
The correct answer is D. $15,000 .
With a co-insurance clause , the insured must carry insurance equal to a stated percentage of the property value to avoid a penalty at claim time. Here, the building is worth $120,000 and the policy has an 80% co- insurance requirement . That means the insured should have carried:
$120,000 × 80% = $96,000
However, the building was only insured for $60,000 , which is less than the required amount. Because of that, the loss payment is reduced proportionately using the co-insurance formula:
Insurance carried ÷ Insurance required × Loss
$60,000 ÷ $96,000 × $24,000 = $15,000
So the insurer pays $15,000 , assuming no deductible is mentioned.
This is a classic RIBO commercial property calculation. Co-insurance encourages insureds to carry adequate insurance to value. If they underinsure, they become a co-insurer for part of the loss themselves. A is wrong because that is the policy limit, not the payable amount. B would only apply if the co-insurance requirement had been met. C does not match the formula. Brokers must understand co-insurance so they can explain underinsurance penalties clearly to clients.
NEW QUESTION # 175
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: B
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 # 176
Additional Living Expense under a Homeowners Comprehensive policy is payable when the premises become unfit for occupancy in what circumstance?
Answer: D
Explanation:
Additional Living Expense (ALE), found under Coverage D of a Homeowners policy, is designed to indemnify the insured for the increase in living costs (such as hotel bills and restaurant meals) when their dwelling is rendered uninhabitable. However, the RIBO Level 1 Competency Profile stresses that this coverage is not "all-encompassing"; it is strictly triggered by a loss caused by an insured peril.
Option A (Insects): Most property policies exclude damage caused by "vermin" or "insects" (except in very specific circumstances like building glass). Since the underlying cause is an excluded peril, ALE would not be triggered.
Option B (Open Window): Damage caused by "seepage or leakage" or rain entering through an open window is typically excluded under the "Water" exclusions or considered a lack of maintenance/due diligence.
Option D (Renovations): Intentional renovations are a lifestyle choice, not a sudden and accidental loss. ALE does not apply to voluntary displacement.
Option C is the correct answer because it correctly identifies the contractual trigger: the damage must result from a peril that is actually covered by the policy (e.g., fire, windstorm, or a burst pipe). The broker's role in Consulting and Advising is to ensure the client understands that ALE only pays for the "additional" costs- the amount over and above the insured's normal expenses-and only for the "reasonable time" required to repair the damage. The RIBO Blueprint highlights that brokers must be able to distinguish between a "covered loss" and "excluded maintenance" to properly manage Claims Services and ensure the client's expectations align with the policy wording.
NEW QUESTION # 177
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