Ribo insurance exam - Study guides, Class notes & Summaries

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RIBO Insurance Exam

What makes pure risk insurable while speculative not? correct answers Pure risk insurance is a situation involving a chance of a loss without a chance of gain. Insurance will accept situations where there is no potential for gain. Pure Risk correct answers A situation involving a chance of loss without a chance of gain. Example: property damage Speculative Risk correct answers A situation where the possibility of either financial loss or gain exists. This is not accepted by insurances. Exa...

RIBO Insurance Exam (1)

RIBO Insurance Exam With 100% Correct Answers 2024 What makes pure risk insurable while speculative not? - Answer Pure risk insurance is a situation involving a chance of a loss without a chance of gain. Insurance will accept situations where there is no potential for gain. Pure Risk - Answer A situation involving a chance of loss without a chance of gain. Example: property damage Speculative Risk - Answer A situation where the possibility of either financial loss or gain exists. Th...

What makes pure risk insurable while speculative not? Pure risk insurance is a situation involving a chance of a loss without a chance of gain. Insurance will accept situations where there is no potential for gain. Pure Risk A situation involving a chance of loss without a chance of gain. Example: property damage Speculative Risk A situation where the possibility of either financial loss or gain exists. This is not accepted by insurances. Example: gambling Insurance

RIBO General Insurance Exam- Solved

RIBO Insurance Exam

Ontario Auto Exam (RIBO) Questions and Answers Latest Update 2025 1: What does RIBO stand for? - correct answer - Registered Insurance Brokers of Ontario. 2: What is the primary purpose of auto insurance in Ontario? - correct answer - To provide financial protection against physical damage and bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. 3: What is the minimum required auto insurance coverage in Ontario? - corr...

RIBO Insurance Exam