Pass RIBO-Level-1 Exam Questions ~ 100% success in initial try

Question No 1

Who is a Broker NOT permitted to pay a referral fee to?

Choose the Choices:

Question No 2

What does a medical questionnaire for Travel insurance determine?

Choose the Choices:

The medical condition of the client to confirm if they can travel.

The client's eligibility and rate category.

The amount of coverage and deductible the company can offer the client.

Mode of travel and length of stay for client.

Question No 3

Rashid has purchased a new home that has a woodstove but no current Wood Energy Technology Transfer (WETT) inspection. Coverage is needed for the home closure in 14 days. Company ABC has agreed to provide insurance as long as the WETT inspection is provided within 30 days of possession. What should the Broker do?

Choose the Choices:

Advise Rashid that the WETT inspection is required but no further action is needed.

Advise Rashid to remove the woodstove upon possession, so that they can avoid the hassle of obtaining the WETT inspection.

Advise Rashid of the inspection requirement and that the insurer may require removal of the unit if it does not pass the WETT inspection.

Leave the existence of the woodstove off the application and policy until such time as a WETT inspection is completed.

Question No 4

Stanley recently moved back to Ontario after living abroad for two years. He purchased a vehicle and is asking his Broker for insurance quotes. One insurance company's quote is favourable but the company prefers not to insure Stanley because of the gap in his insurance history. What should the Broker do to act within the scope of his agreement with the insurance company?

Choose the Choices:

Obtain approval for the risk from the Principal Broker for approval and then submit the completed application to the insurer.

Discuss the risk with the insurer's underwriter for binding approval and then submit the completed application to the insurer.

Discuss the risk with colleagues first and then submit the completed application to the insurer.

Submit the application without the driving gap as this will get Stanley the best rate.

Question No 5

John's Excavating commercial liability policy shows the description of operation as construction. John advises his Broker that he will be doing some snow removal for a period of 60 days. What should John's Broker do?

Choose the Choices:

Advise the client that no action is required as the snow removal is being done for a short period of time.

Advise the client there is automatic coverage under the Commercial General Liability policy for additional operations.

Advise the client that the change in operations will be reported to the insurance company.

Advise the client to delay the snow - removal work until the policy renews to avoid complications.

Practice Insurance Institute RIBO-Level-1 Exam Questions

Question No 1

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Question No 3

Question No 4

Question No 5

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