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Ribo Test #2 Attempt Questions and Answers with Solutions 2024/2025
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Ribo Test #2 Attempt Questions and Answers with Solutions 2024/2025
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Ribo Test #2 AttemptThe original perils insured by the Basic Fire Policy include - ANSfire,
lighting
and limited explosion
The Basic Fire Policy covers which of the following perils? - ANSfire, direct damage by lightning
and limited explosion
After the theft of a vehicle, when does the Loss of Use section begin reimbursement? - ANS72
hours after the theft has been reported to the insurer or to the police
The insured asks her broker to delete all coverage from her only automobile since she is going
south for three months during the winter. The broker should - ANSsuspend coverage- opcf16 -
suspension of coverage endorsement
Your insured has a Tenants Comprehensive Policy through your brokerage. He has signed a
waiver that releases the landlord from liability for injury or damage occurring on the premises
being rented. A fire in the building damages your insured's contents. It is established that the
landlord was responsible for the fire. Which of the following statements is CORRECT regarding
coverage under the policy? - ANSThe insurer will pay the loss but would be unable to subrogate
in the comprehensive condo policy, loss assessment coverage .... - ANSprovides protection for
the unit owner when the condominium corporation has underinsured the building.
What is pure premium? - ANSThe premium required to meet the losses that occur
According to the Statutory Conditions, after a loss, an insured - ANSd. must provide the insurer
with a proof of loss as soon as possible. Correct
Which of the following is NOT covered under Additional Agreements of Insurer (Third Party
Liability)? - ANSDefence costs for any criminal prosecution arising out of the accident
Which of the following affects the amount of settlement of an insured loss? -
ANSCOINSURANCE BITCH
An insurance binder is NOT valid unless the broker has which of the following? - ANSb.
Authority from an insurer to bind the risk Correct
Three (3) of the following are Travel Health Policy limitations. Which one (1) is NOT? - ANSAir
travel as a passenger in a commercial aircraft licensed to carry passengers for hire.
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