Insurance Institute
RIBO-Level-1
Q1:
Which of the client situations would prompt you to discuss a change to their habitational policy?
○
A
Your client tells you they are going to replace their garden shed.○
B
Your client tells you that they have purchased a boat.○
C
Your client tells you they are using a neighbour's trailer for a few months and will store it in their garage.○
D
Your client tells you they have moved their office to be entirely in their spare bedroom.
Insurance Institute
RIBO-Level-1
Q2:
Two business partners at Happy Accounting Limited suffered a loss. It was revealed that the loss was caused by one of the partners Mr.Hap. What options does the insurer have to recover for the loss paid?
○
A
Subrogation.○
B
No chance of recovery.○
C
Waiver of subrogation.○
D
Negligence.
Insurance Institute
RIBO-Level-1
Q3:
Under the O.A.P. 1 Owner's Policy, what is the standard deductible for a "Direct Compensation - Property Damage" (DCPD) claim in Ontario?
○
A
$300.○
B
$500.○
C
$0.○
D
$1,000.
Insurance Institute
RIBO-Level-1
Q4:
What is the minimum coverage requirement of a Visitor to Canada (VTC) Policy for a Non Canadian coming to Canada on a Super Visa?
○
A
$50,000 coverage and valid for 365 days.○
B
$100,000 coverage and valid for 300 days.○
C
$100,000 coverage and valid for 365 days.○
D
$150,000 coverage and valid for 180 days.
Insurance Institute
RIBO-Level-1
Q5:
Chan, a Broker, is preparing to do a review of homeowners quotes with his client. What are the MOST important details Chan should be discussing with his client?
○
A
Limits on the building and contents, excluding outbuildings.○
B
Limitations, exclusions and conditions.○
C
Premium, policy discounts, and deductible options.○
D
Coverage for liability and voluntary medical payments.