Ribo insurance - Study guides, Class notes & Summaries

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...

©THEBRIGHTSTARS 2024 RIBO Insurance Course Practice Questions Week 3 With Correct Answers. What is a main benefit of having an insurance application completed in writing and signed by the applicant? Select one: a. Provides accurate documentation of the coverage requested and confirms the accuracy of the information. b. Is less costly for the insurer to underwrite written applications than oral applications c. Allows the insured to get a premium discount of fifteen percent d. Allows th...

RIBO General Insurance Exam- Solved

RIBO TEST #3 HOME INSURANCE Questions with Correct Answers

RIBO Insurance Course Practice Week 4 2024 Latest Updated 100% Rated Highgrade Pass!!!NEW GENERATION Question and AnswerRIBO Insurance Course Practice Week 4 2024 Latest Updated 100% Rated Highgrade Pass!!!NEW GENERATION Question and AnswerRIBO Insurance Course Practice Week 4 2024 Latest Updated 100% Rated Highgrade Pass!!!NEW GENERATION Question and AnswerRIBO Insurance Course Practice Week 4 2024 Latest Updated 100% Rated Highgrade Pass!!!NEW GENERATION Question and AnswerRIBO Insurance Cours...

Insurance - Protection against unforeseen events that cause covered loss Risk - Potential for loss or damage Insurer - Company that provides insurance coverage Insured - Person or entity with insurance protection under a policy Insurance Contract - Legal agreement between insured and insurer for payment in case of loss Representation - Statement made by applicant on insurance application

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 Course Practice Questions Week 4.

What is General Insurance also known as? - AnswerProperty and Casualty (P&C) Insurance RIBO is not a - AnswerTrade Association Define Insurance - AnswerThe undertaking by one person to indemnify another person against loss or liability for loss in respect of a certain risk or peril to which the object of insurance may be exposed, or to pay a sum of money or other thing of value upon the happening of a certain event When was The Great Fire of London? - Answer1666 What is property? - A...