Ribo ontario - Study guides, Class notes & Summaries

RIBO Practice Test 5a Auto UPDATED Exam Questions and CORRECT Answers Which of the following provinces offer only government compulsory auto insurance? a) Alberta, Quebec and Saskatchewan b) Saskatchewan, Quebec and Manitoba c) British Columbia, Manitoba and Saskatchewan d) Ontario and Nova Scotia - Correct Answer- C

Those exempt from RIB Act. - lawyers, agents, accountants, adjusters, travel insurance agents, admin staff, trustee, reinsurance broker. Who can be a broker? - - age of majority - of good character - no criminal charges - no refused, suspended or revoked licenses - meet educational and experience requirements of Qualification and Registration Committee. - complies with Act - only business is Insurance Broker Insurance Broker defined: - Any person who for any commission, compensation or...

ONTARIO AUTO EXAM (RIBO)WITH A GUARANTEED PASS!!

A cigarette sets the automobile seat on fire and causes $450 damage. The policy shows a $300 deductible under Specified Perils. The insurer would pay: A. $0 B. $150 C. $300 D. $450 Deductible does not apply or is $0 in case of fire or lightening. - D. $450 A client phones to tell you he has brought a high-end stereo system costing $5,000, which has been installed in his car. What should you tell him? A. Be sure to always lock the car, as there is no coverage if the system costing $5,000...

ONTARIO AUTO EXAM (RIBO) QUESTIONS AND ANSWERS

BB Practice Test 2 RIBO Questions and Answers 100% Solved As a broker holding a restricted license you are not able to: a) Sell insurance policies on behalf of more than one insurer b) Open and operate a trust account c) Counsel Potential clients on the insurance choices available d) Bind coverage b Rules and agreements concerning binding insurance coverage by brokers are: a) Laid out in the Insurance Act of Ontario b) Set by RIBO and are uniform and apply to every insurance broker firm i...

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 Form, suitably endorsed. - A. O.A.P. 1 Owner Form, suitably endorsed. Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Coverages, is usually subject to a deductible. It does not app...

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 Form, suitably endorsed. o :## A. O.A.P. 1 Owner Form, suitably endorsed. Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Coverages, is usually subject to a deductible. It does no...

RIBO – General Questions and Answers Already Graded A Which of the following provinces offer only government compulsory auto insurance? British Columbia, Manitoba and Saskatchewan The definition of ordinary negligence? Is the failure to do what a reasonable person would do in a given situation. A broker/agent is responsible for what? Writing only those classes of business acceptable to his/her insurer. An insurance contract contains all of the elements of any other legal contract. One eleme...