Free IIC RIBO-Level-1 Exam Questions
Absolute Free RIBO-Level-1 Exam Practice for Comprehensive Preparation
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IIC RIBO-Level-1 Exam Questions
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Provided By: IIC
- Exam: RIBO Level 1 - Entry-Level Broker
- Certification: Registered Insurance Brokers of Ontario (RIBO)
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Total Questions: 217
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Updated On: Jul 25, 2026
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Rated: 4.9 |
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Online Users: 434
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Question 1
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How would a broker apply the concept of risk analysis in commercial insurance?
Answer: A
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How would a broker apply the concept of risk analysis in commercial insurance?
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Question 2
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Risk may be dealt with in a number of ways including transferring it to others or retaining it intentionally.
Which of the following alternatives is a transfer of risk?
Answer: D
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Risk may be dealt with in a number of ways including transferring it to others or retaining it intentionally.
Which of the following alternatives is a transfer of risk?
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Question 3
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Many automobile insurers have introduced User-Based Insurance (UBI) programs (e.g., Telematics) to help
determine rating and insurance premiums. Which MOST accurately describes elements that a UBI program
tracks?
Answer: A
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Many automobile insurers have introduced User-Based Insurance (UBI) programs (e.g., Telematics) to help
determine rating and insurance premiums. Which MOST accurately describes elements that a UBI program
tracks?
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Question 4
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Sonia, a Broker, advises all their clients to purchase $2 million in personal liability insurance when they
provide quotes. When checking their upcoming renewals, they notice several policies with only $1 million in
personal liability coverage. They consider increasing these limits to $2 million automatically on renewal as
the premium cost is only an additional $20, and asking the client if they are in agreement after. What legal
principle would Sonia be in breach of?
Answer: B
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Sonia, a Broker, advises all their clients to purchase $2 million in personal liability insurance when they
provide quotes. When checking their upcoming renewals, they notice several policies with only $1 million in
personal liability coverage. They consider increasing these limits to $2 million automatically on renewal as
the premium cost is only an additional $20, and asking the client if they are in agreement after. What legal
principle would Sonia be in breach of?
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Question 5
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When is a Vacancy Permit required in order to continue fire insurance on a property?
Answer: B
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When is a Vacancy Permit required in order to continue fire insurance on a property?