Exam (elaborations)
RIBO - AUTO Questions and Answers with Solutions 2024/2025
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RIBO - AUTO Questions and Answers with Solutions 2024/2025
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RIBO - AUTOUnder the defense costs, the insured is covered for Legal fees over and above their limit of
liability arising out of loss or damage to a person or property as a result of an auto accident. T or
F - ANSTrue (OAP1 PG19-20 3.3.1 and 3.3.2)
Who is defined as the insured person on your OAP1 under Accident Benefits? - ANSYour sister
in law while driving the car you lent her, if she doesn't have her own policy. (OAP1 PG 25 4.1)
If a person is unable to work due to an injury suffered in an auto accident, their OAP 1 could
potentially pay: - ANSUp to 70% of gross income up to $400 weekly.
What is the definition of territory that is specified in OAP 1? - ANSCanada and the USA or on a
vessel travelling between ports of these countries.
The recreational vehicle endorsement (OPCF32) provides coverage for which vehicles? -
ANSSnowmobile, trail bike, mini cycle, and dune buggy
The daughter of your client calls to report an accident she has had with her father's car. The
vehicle is not drivable and she is in the hospital with injuries. On completing the claim report you
find out that her father died a month earlier and no one advise the broker or insurer. You advise
her the insurer will: - ANSPay the claim in full. Death and Bankruptcy (OAP1 PG 53 Stat
Conditions Material Change in Risk)
The Facility Association is: - ANSAn insurance pool subscribed to by all auto insurance
companies, in order to share the writing of risks that are not ordinarily written in the normal
insurance market.
The threshold in Ontario refers to: - ANSDeath or permanent serious disfigurement or
permanent serious impairment of an important physical, mental or psychological function.
The insured has an OAP 1 with a $300 deductible on Comprehensive coverage. A cigarette sets
the car seat on fire causing $500 in damage. How much will the insurer pay? - ANS500 bones
(OAP1 PG 48 7.3 and PG 44 7.1.2 , we insure stupidity)
The driver loses control on a slippery road and collides with a telephone pole, causing damages
to the insured vehicle and no damage to the telephone pole. This would be covered under: -
ANSLoss or damage to insured automobile collision.
What is the minimum limit for liability coverage under an auto policy for the province of Ontario?
- ANS$200,000.00
, In the case of an accident involving the insured and an uninsured but identified driver who is
found at fault, the insured can: - ANSMake a claim for damages to the insured vehicle from their
own insurer.
Property damage, under section 3 of the auto policy means: - ANSDamage to property of others
but not the insured's own property. (You drive your car into someone's house the house id the
PD not your car) Always property of other's never the insured's own property
A rented auto is considered an "other" non-owned vehicle for the purposes of coverage by an
insured's auto policy. Is this true with respect to an auto rented by an insured while on vacation
in the USA? - ANSTrue
Third parties are not a party to a policy, true or false? - ANSTrue
The Highway Victims Indemnity Funds: - ANSWill not pay if the claimant is responsible for
causing the accident.:(For unidentified/uninsured accidents where victim d/n have own/a policy
to claim to)
Liability must be established with respect to who is at fault in an accident in regards to Direct
Compensation Property Damage (DCPD) True or False - ANSTrue
You may be found guilty of misrepresentation when you sign an Ontario Application for
Automobile Insurance if you fail to disclose that: - ANSYou may be found guilty of
misrepresentation when you sign an Ontario Application for Automobile Insurance if you fail to
disclose that:
Which of the following statements about the Facility Association (FA) is false? -
ANSUnderwriting and claims functions for facility business are provided by all insurance
companies operating in Ontario. F: (Only Servicing Carriers)
What is not a function of the Ontario Insurance Commission? - ANSApproving auto insurance
rates. (Financial Service Commission of Ont)
A client carries comprehensive coverage on their auto. Accidentally the car catches fire and is
completely destroyed. Which of the following statements is true? - ANSThe client will not have
to pay their deductible and the insurer will pay the rest.
An insured has a basic liability policy with no other coverage. In the event of theft to the entire
auto, what coverage would the client have? - ANSNo coverage
What is not an optional benefit under the AB section of the policy? - ANSIncrease in the
threshold.(Straight definition, not optional benefit)
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