Ribo act exam Study guides, Class notes & Summaries

incapicitated member - ️️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 - ️️any person who for any comepnsation, commission or other thing of calue, with respect to persons or property in ontario, deals directly with the public. member - ️️an individual, partnership or corporating registered under this act to carry on business as...

RIBO ACT Exam(Selected sections as per study guide) 2023

RIBO ACT -Exam Questions With Correct Answers. An insurance broker - answermeans 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 risk management service 3. makes recommendations or gives advice regarding the insurance plan A manager may cancel a registration when: - answer1. for n...

©THEBRIGHTSTARS 2024 RIBO EXAM (practice online) Questions With Correct Answers. Risk - answerChance of Loss- where the object of insurance maybe exposed Peril - answerCause of loss (wind, fire, water) Indemnification - answerWhen insurer provides exact amount of loss, no more no less - provided in money or another item of similar value Covered losses - answerAccidental and future (not on purpose or in the past) Alternatives to payment - answerRepair or replacement three types of insur...