RIBO EXAM PACKAGE DEAL WITH COMPLETE SOLUTIONS GRADED A+

Mary lives in a townhouse unit that she rents. A fire in the unit next door also damages Mary's unit. The damage is significant and Mary will have to move out while it is being repaired. Which tenants policy section will cover the cost of providing her with a temporary place to live? Select one:...

An insurance broker - Answer-means any person who for compensation, commission or other thing of value, with respect to person or property in Ontario, deals directly with public and holds himself, herself or itself out as : 1. acts or aids in negotiating the contracts of insurance 2. provides ri...

Which of the following statements best describes actual cash value? - Answer-The replacement cost at the time of loss less depreciation Personal injury liability under the Commercial General Liability Policy covers sums that the insured becomes legally obligated to pay: - Answer-Because of injury...

Risk - Answer-Chance of a loss Which type of risk is insured and why? - Answer-Pure risk, because speculative risk is comparable to gambling. 3 Ways risk (management) is dealt with? - Answer-REDUCE: preventative measures ASSUME/RETAIN: Self-insure TRANSFER: purchase insurance Which of the foll...

incapicitated member - Answer-a member suffering froma physical or mental condition or disorder and can no longer carry on business as a registered insurance broker, this is typically determiend by the manager. insurance broker - Answer-any person who for any comepnsation, commission or other thi...

Your client calls to advise he/she needs insurance on a car leased from an automobile dealer. Which one (1) of the following policies is required? A. O.A.P. 1 Owner Form, suitably endorsed. B. O.P.F. #2 Driver's Form. C. O.P.F. #6 Non-owned Automobile Form, suitable endorsed. D. Garage Auto Fo...

Which of the following provinces offer only government compulsory auto insurance? - Answer-British Columbia, Manitoba and Saskatchewan The definition of ordinary negligence? - Answer-Is the failure to do what a reasonable person would do in a given situation. A broker/agent is responsible for wh...

Implied Contract - Answer-a contract that comes about from the actions of the parties Express Contract - Answer-Terms have been specificity states and agreed upon by both parties Reinsurance - Answer-insurance for insurance companies Frequency - Answer-Percentage of what we insure. severity - An...

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: - Answer-1 month notice in writing of the default and intention to cancel the registration subject to the continuing jurisdiction of the Corporation. Upon su...