RIBO-Level-1 Exam Questions Dumps, Selling IIC Products [Q121-Q138]

RIBO-Level-1 Exam Questions Dumps, Selling IIC Products [Q121-Q138]

August 21, 2026 latestexam 0 Comments

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RIBO-Level-1 Exam Questions Dumps, Selling IIC Products

RIBO-Level-1 Cert Guide PDF 100% Cover Real Exam Questions

IIC RIBO-Level-1 Exam Overview:

Certification Vendor:	Registered Insurance Brokers of Ontario (RIBO), Insurance Institute of Canada (IIC)
Exam Name:	RIBO Level 1 Entry-Level Broker Exam
Exam Number:	RIBO-Level-1
Real Exam Qty:	100 scored + 15 unscored pilot questions
Certificate Validity Period:	Annual renewal required
Available Languages:	English
Exam Duration:	180 minutes
Related Certifications:	RIBO Level 2 Technical/Commercial Broker License RIBO Level 3 Management Broker License
Exam Format:	Multiple-choice questions
Passing Score:	75% (75/100)
Exam Price:	300 USD / CAD 300
Recommended Training:	Insurance Institute of Canada Preparation Courses RIBO Official Study Materials & Exam Blueprint
Exam Registration:	Insurance Brokers Association of Ontario (IBAO) Insurance Institute of Canada (IIC)
Sample Questions:	IIC RIBO-Level-1 Sample Questions
Exam Way:	Online remote proctored or in-person at approved test centers
Pre Condition:	Minimum 18 years old; valid criminal record check; meet suitability requirements; no prior RIBO license required
Official Syllabus URL:	https://www.ribo.com/getting-a-license/individual-licenses/new-applicants/examinations/level-1-entry-level-broker-exam/

NO.121 Simon’s spouse was riding the family’s watercraft when it hit a swimmer. The watercraft is 3 meters long and has a 16 Horse Power Motor and it’s not scheduled under their personal property insurance. As a result of the accident, Simon is being sued for medical expenses and minor injuries that the swimmer sustained. Does Simon have coverage under their property insurance and why?

No, as Simon’s property coverage does not extend to his spouse.

No, as watercrafts with a horse power motors of 16 or more are not included under this policy.

Yes, as liability is automatically extended to personal watercrafts regardless of the watercraft’s horse power.

Yes, as liability is extended to watercrafts of this length with horse power of 16 or less.

NO.122 According to the Statutory Conditions of an Automobile Policy (O.A.P. 1), if the insurer chooses to terminate the policy, they must provide a refund of the unearned premium. How must this refund be calculated?

On a short-rate basis, allowing the insurer to keep an administrative fee.

On a pro-rata basis, representing the exact proportion of the unused premium.

On a flat-rate basis, regardless of the time remaining in the policy term.

The insurer is not required to provide a refund if the termination is due to a claim.

NO.123 A condo owner failed to advise that they now rent out their unit and the tenant has caused a fire. What is most likely to happen?

The claim would be covered as fire is an insured peril.

The claim would be partially covered, owners property only.

The claim would be denied due to a material change.

The claim would be covered, settled on actual cash value rather than replacement cost.

NO.124 What is the meaning of implied consent?

The act where a person gives declarative permission for a specific action to be taken by the other party to which they both agreed.

The ability for one party to infer to another party how to proceed.

The assumption that a person has given permission for an action which is inferred from their actions rather than expressly provided.

The act where a third party gives declarative permission for a specific action to be taken by the first party to which they both agreed.

NO.125 You meet with a client on July 1st to review a quote home insurance you previously provided to them on June
28th. During your meeting the client accepts the quote and requests that coverage begin on June 28th. What should happen next?

As you met with the client on June 28, you can have coverage begin on this date.

The earliest date you can use is July 1st.

Call the insurance underwriter to obtain approval.

Call your principal broker to obtain approval.

NO.126 Whose responsibility is it to insure the condominium’s building and its common elements?

The individual unit owner.

The developer.

The condominium corporation.

The municipality that the condo is located in.

NO.127 What is the mandate of the Canadian Council of Insurance Regulators (CCIR.?

To facilitate public knowledge of the Ontario Auto and Homeowners Policies.

To regulate the insurers’ coverage and premiums in Ontario for the fair treatment of consumers.

To regulate and promote the fair treatment of the Canadian consumer.

To facilitate and promote an efficient and effective insurance regulatory system in Canada to serve the public interest.

NO.128 Nancy called Hula Brokers to set up a new policy. She told them she is picking up her vehicle at 9:00 pm on September 1st, 2025. When does Nancy’s policy expire?

12:01 pm October 1st, 2025.

12:01 am September 1st, 2026.

9:00 pm September 1st, 2026.

12:01 am October 1st, 2025.

NO.129 An insured is involved in an accident where a third party is 100% at fault. The insurer pays the insured $5,000 for their car repairs. The insurer then sues the third party to recover that $5,000. What is this legal process called?

Indemnity.

Contribution.

Subrogation.

Arbitration.

NO.130 Certain Accident Benefits limits under O.A.P. 1 Owner’s Policy can be increased or extended at the option of the insured. What benefit CANNOT be changed?

Death and Funeral Benefits.

Income Replacement Benefit.

Caregiver Benefit for Catastrophic Injuries.

Disability Benefit after Age 65.

NO.131 A client who is currently conducting their business as a sole proprietorship is considering incorporating their business. What would be of MOST benefit to the client?

The client would not be personally liable for the risks within the business.

The client would have more competitive insurance premiums.

The client would pay less tax.

The client will have more insurance options available for their business.

NO.132 What is the minimum Third Party Liability limit that every motorist must carry by law in the province of Ontario?

$50,000.

$200,000.

$500,000.

$1,000,000.

NO.133 There are a number of insurance policies which are designed for specific purposes. Which one is designed to give Third Party Liability protection to an employer whose salesmen use their own vehicles in the course of their employment?

O.A.P. 1 Owner’s Policy.

O.A.F. 2 Driver’s Form.

O.P.F. 6 Non-Owned Automobile Form.

Commercial General Liability Policy.

NO.134 A bank advises a Broker that their client’s mortgage has not been paid for several months. What coverage is available to the Mortgagee on the client’s Comprehensive Homeowner’s Policy?

The Standard Mortgage Clause allows the insurance company to cancel the policy on behalf of the mortgagee.

There is no coverage for this on a Comprehensive Homeowner’s Policy.

The Broker can contact the client to advise of the Mortgage holder’s concern.

The Broker can request the insurance company to cancel the policy for non-payment.

NO.135 Which of the following is NOT a travel health insurance policy condition?

Travel health policies do not cover eye glasses or contact lens.

Senior citizens are only eligible for travel health insurance if accompanied by an immediate family member.

Travel health policies do not cover medical treatment where the policy is sought specifically to obtain such treatment.

Benefits are not payable for elective surgery.

NO.136 Your insured asks if a cemetery plot they have just acquired is covered for Personal Liability under their Homeowners Comprehensive policy. What would be your reply?

A separate policy must be purchased.

The policy can be endorsed to cover the additional location for a small additional premium.

The Liability section of their policy automatically covers cemetery plots.

There is no need for coverage since they have no liability for the plot.

NO.137 Which of the following is NOT a valid reason for using a “Telephone Hot-line” to report claims?

To direct customers to appropriate medical facilities.

To determine urgency of the insured’s condition.

To control costs.

To report the incident to the Financial Services Regulatory Authority of Ontario (FSRA..

NO.138 Under the “What Automobiles Are Covered” section of O.A.P. 1 Owner’s Policy, a newly acquired automobile is automatically covered for a period of 14 days. This automatic coverage is limited to:

a vehicle which replaces one already insured under the policy and not to additional automobiles.

private passenger vehicles which are mainly used for pleasure purposes.

private passenger vehicles and no other types of automobile.

those coverages which applied to the vehicle replaced, or to all of the insured’s vehicles if it is an additional automobile.

IIC RIBO-Level-1 Exam Syllabus Topics:

Topic	Details
Topic 1	General Insurance and Industry Knowledge: Covers the fundamentals of insurance principles, policy structure, regulatory environment, and the roles of key stakeholders within the insurance industry.
Topic 2	Personal Lines Automobile: Explains automobile insurance basics such as coverage types, accident benefits, liability, and policy regulations for personal vehicles.
Topic 3	Personal Lines Habitational: Focuses on residential insurance including property coverage, risks, policy types, and protection for homeowners, tenants, and dwellings.
Topic 4	Travel Health: Deals with travel medical insurance, including coverage for emergencies, eligibility, exclusions, and policy conditions for travelers.
Topic 5	Commercial Lines: Covers insurance solutions for businesses, including property, liability, and risk management tailored to commercial operations.

Pass RIBO-Level-1 Exam – Real Questions and Answers: https://www.latestcram.com/RIBO-Level-1-exam-cram-questions.html

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