During these years, our PDF version of our IIC RIBO-Level-1 study engine stays true to its original purpose to pursue a higher pass rate that has never been attained in the past. And you will be content about our considerate service on our IIC RIBO-Level-1 training guide. If you have any question, you can just contact us!
| Certification Vendor: | RIBO (Registered Insurance Brokers of Ontario) |
|---|---|
| Exam Name: | RIBO Level 1 Entry-Level Broker Examination |
| Exam Number: | RIBO-Level-1 |
| Related Certifications: | RIBO Level 3 Broker License RIBO Level 2 Broker License |
| Exam Format: | Multiple Choice |
| 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 |
>> Pdf RIBO-Level-1 Exam Dump <<
In order to let all people have the opportunity to try our RIBO-Level-1 exam questions, the experts from our company designed the trial version of our RIBO-Level-1 prep guide for all people. If you have any hesitate to buy our products. You can try the trial version from our company before you buy our RIBO-Level-1 Test Practice files. The trial version will provide you with the demo. More importantly, the demo from our company is free for all people. You will have a deep understanding of the RIBO-Level-1 preparation materials from our company by the free demo.
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
NEW QUESTION # 153
Your insured belongs to a car pool and uses their automobile to transport the other three members to work every fourth week. One of the other members drives each of the other three weeks. As their insurance broker, what would you do to make sure your client is covered against claims from passengers for injuries?
Answer: B
Explanation:
The correct answer is C because a normal car pool arrangement does not usually require any special endorsement under the O.A.P. 1 Owner's Policy . The standard OAP 1 already provides Liability Coverage for amounts the law holds the insured responsible for because of bodily injury to others arising from the ownership, use, or operation of the automobile. It also confirms that the insured and anyone using the described automobile with consent are covered persons under that liability section.
Option A is not correct because the endorsement for Permission to Carry Passengers for Compensation (OPCF 6A) is intended to override the exclusion for carrying passengers for compensation , such as taxi, rideshare, or similar fare-paying use. The reference material specifically describes OPCF 6A as typically applying to commercial situations like taxis, cabs, and Uber drivers. A shared car pool where members take turns driving to work is not the same as carrying passengers for compensation.
Option B is not required for this ordinary commuting arrangement, and D is incorrect because commuting in a car pool does not automatically convert the risk into business use. From a RIBO perspective, this tests the distinction between private passenger use with shared commuting and commercial passenger-carrying exposure .
NEW QUESTION # 154
A building worth $100,000 is insured for $60,000 under a policy with a 90% co-insurance clause. Fire damages the building to the extent of $45,000. How much does the insurer pay?
Answer: C
Explanation:
The correct answer is D. $30,000 .
A co-insurance clause requires the insured to carry insurance equal to a stated percentage of the property's value. If the insured carries less than that amount, a penalty applies at claim time.
Here, the building value is $100,000 and the co-insurance requirement is 90% . So the amount of insurance that should have been carried is:
$100,000 × 90% = $90,000
But the insured only carried $60,000 . That means the insured did not meet the co-insurance requirement. The loss payment is calculated using the standard formula:
Insurance carried ÷ Insurance required × Loss
$60,000 ÷ $90,000 × $45,000 = $30,000
So the insurer pays $30,000 , assuming no deductible is mentioned.
Why the others are wrong: A. is the policy limit, not the amount payable. B. would only be paid if the insured had met the co-insurance requirement. C. does not match the correct calculation.
From a RIBO perspective, this is a basic commercial property calculation and a very important broker concept. Brokers must explain that co-insurance exists to encourage proper insurance-to-value. If a client underinsures, they effectively become a co-insurer for part of the loss themselves.
NEW QUESTION # 155
An accident in Ontario between two Ontario registered and insured cars leaves your insured with permanent serious disfigurement. The other driver's injuries are neither permanent nor serious. Both cars are damaged, but neither one is insured for collision damage. Both drivers are found equally to blame for the accident.
Which of the following statements is INCORRECT?
Answer: A
Explanation:
The incorrect statement is B . Under Ontario's Insurance Act , an injured person may sue for bodily injury damages if they have suffered permanent serious disfigurement or permanent serious impairment of an important physical, mental or psychological function . The uploaded Insurance Act excerpt states that protected defendants are not liable for health care expenses or non-pecuniary loss unless the injured person has died or sustained permanent serious disfigurement or qualifying permanent serious impairment. Your insured meets that threshold, so they may be entitled to sue the other driver for qualifying bodily injury damages.
A is not incorrect because economic loss tort rights are only partly protected. The Act removes liability for the first 7 days of income loss and for part of later income loss, which means some residual economic loss can still be claimed in tort.
C is also correct. Under DCPD, each insured claims against their own insurer , and payment is based on the degree to which they were not at fault . At 50/50 fault, each would recover 50% of their own vehicle damage under their own policy's DCPD section.
D is correct because statutory accident benefits, including medical/rehabilitation and income replacement where applicable, are generally claimed under one's own policy .
NEW QUESTION # 156
Nearly every insurance policy has Policy Conditions which are common to all policies issued in a particular class. Some policies also contain Statutory Conditions. Which of the following class of insurance policies contain Statutory Conditions?
Answer: B
Explanation:
The Legal and Regulatory Compliance competency requires a deep understanding of the Insurance Act of Ontario, which mandates the inclusion of Statutory Conditions in specific types of policies. These conditions are legally required and cannot be altered or removed by the insurer or the broker, as they serve to protect the rights of both the insured and the insurer.
Statutory Conditions apply to three main classes of insurance in Ontario: Fire, Automobile, and Accident and Sickness. While liability, burglary, and marine policies contain "Policy Conditions" (which are contractual), they are not governed by the legislated "Statutory Conditions" found in the Insurance Act. For a Fire policy, these conditions cover critical areas such as misrepresentation, property of others, change of interest, material change, termination, requirements after loss, and appraisal. The RIBO Level 1 Blueprint emphasizes that brokers must distinguish between these mandated conditions and standard policy wordings. Knowledge of these conditions is essential when a broker is Consulting and Advising a client on their obligations-for example, the requirement to provide a "Proof of Loss" within a specific timeframe or the rules surrounding the termination of a policy. Understanding that Fire policies are the foundation of habitational insurance (homeowners, tenants, condo) and that they carry these rigid legal protections is a core requirement for any entry-level broker seeking to ensure that their clients' contracts are compliant with provincial law.
NEW QUESTION # 157
Which is a non medical coverage offered as part of Travel health insurance plan?
Answer: C
Explanation:
The correct answer is C because family transportation if the traveler is hospitalized is a common example of a non-medical benefit included in many travel health insurance plans. Travel health insurance does not only cover emergency medical treatment; it often also includes related assistance benefits such as transportation of a family member, return of dependants, meal and accommodation allowances, emergency evacuation, repatriation, and bedside visit expenses. These are not medical treatments themselves, but they are important supportive coverages that arise because of a medical emergency during travel.
A is incorrect because prescription drug coverage for pre-existing conditions is generally limited, excluded, or strictly controlled under travel medical policies unless very specific underwriting requirements are met. B is not a standard travel health insurance benefit in the way described; a simple taxi fare to the airport is usually not recognized as a core insured non-medical travel health coverage. D is incorrect because an ultrasound is a medical diagnostic expense , not a non-medical coverage.
From a RIBO standpoint, this question tests the broker's ability to distinguish between medical expenses and ancillary assistance benefits within travel insurance. A broker should explain both types clearly so clients understand that travel health insurance may include emergency support services in addition to treatment costs.
NEW QUESTION # 158
......
New RIBO-Level-1 Real Test: https://www.testkingpdf.com/RIBO-Level-1-testking-pdf-torrent.html