RIBO INSURANCE LATEST 2026 TESTS PAPER QUESTIONS
AND SOLUTIONS SCORED A+
✔✔Which of the following best describes the proximate cause of a loss? - ✔✔The
immediate and effective cause of loss
✔✔Provincial Insurance Acts governing automobile insurance applications states that -
✔✔A "true" copy of the application may be signed after the policy has been issued
✔✔A Commercial General Liability Policy covers which of the following? - ✔✔All of the
above
✔✔With respect to the Outboard Motors/Boats coverage, a Full Average Clause -
✔✔Relates an insurer's share of a loss to the adequacy of the amount of insurance.
✔✔An insurance broker whose registration is restricted to acting under supervision may
perform which of the following? - ✔✔Solicit insurance from members of the public
anywhere in Ontario
✔✔When collecting a premium deposit, the agent is required to do which of the
following? - ✔✔Place the deposit in a trust account
✔✔The purpose of Accident Benefits coverage is to provide the insured with which of
the following? - ✔✔Financial protection following physical injury
✔✔A claim under a liability policy may be triggered by which of the following? - ✔✔A
negligent act
✔✔Your client tells you that while visiting his prospective in-laws, he accidentally burnt
a small hole in their rug. The client wants to know if the cost of repairing the rug is
covered under his Tenants Comprehensive Policy. What do you advise your client? -
✔✔Yes, coverage under the Voluntary Property Damage section would apply.
✔✔In section 2 Liability Coverage of the Homeowners Comprehensive Policy, coverage
is provided for Voluntary Payment for Damage to Property in which of the following
situations? - ✔✔Property of others damaged intentionally by the insured's 10-year-old
son, for which he is not legally liable.
✔✔A liability policy written on a claims-made basis will respond to injury or damages
that: - ✔✔Occur to the policy inception and are reported during the policy period
, ✔✔What provisions are included in the Basic Fire Policy for removal of property to
prevent further loss or damage? - ✔✔Automatic coverage is given for a limited time and
subject to certain conditions
✔✔In the rating of a Commercial Property Floater, the amount added to a basic fire rate
is called - ✔✔Loading.
✔✔Which of the following major perils is covered when insuring boilers? - ✔✔Cracking
✔✔An insured with automobile insurance is riding her bicycle when she is struck by an
automobile. She suffers minor injuries. Medical payments for the insured will - ✔✔Be
paid by the insured's automobile policy under Accident Benefits
✔✔A Commercial Crime Insurance Policy: - ✔✔Allows the selection of coverages from
a menu
✔✔Which of the following statements about the OAP 1 Owners Policy Direct
Compensation - Property Damage coverage is incorrect? - ✔✔The accident may occur
anywhere in Canada and at least one of the other automobiles involved is insured under
a motor vehicle liability policy.
✔✔A number of factors may be involved in determining the premium for travel health
insurance. Which one of the following is UNLIKELY to affect the premium? - ✔✔The
mode of transportation and the common carrier used
✔✔The RIB Act requires that evidence of coverage must be provided to the buyer within
which of the following periods? - ✔✔Within 21 days
✔✔A dwelling valued at $100,000 is owned and insured by three people. The first
person has $50,000 invested, the second person has $25,000 invested, and the third
person has $25,000 invested. The first person resides in the house, which is insured for
$60,000. The house is demolished by a tornado. How much would the second person
receive from the insurer? - ✔✔$15,000
✔✔Following registration as an insurance broker, an individual - ✔✔Must notify the
Registered Insurance Brokers of Ontario within 30 days of any change of information in
the original application for registration or renewal.
✔✔If the insured drove his automobile into his own garage door, what would be
included under the Own Damage coverage of his automobile policy? - ✔✔The auto
✔✔Individual losses for the OAP 1 are subject to a deductible. However, no deductible
applies to losses resulting from which of the following perils? - ✔✔Fire or lightning
AND SOLUTIONS SCORED A+
✔✔Which of the following best describes the proximate cause of a loss? - ✔✔The
immediate and effective cause of loss
✔✔Provincial Insurance Acts governing automobile insurance applications states that -
✔✔A "true" copy of the application may be signed after the policy has been issued
✔✔A Commercial General Liability Policy covers which of the following? - ✔✔All of the
above
✔✔With respect to the Outboard Motors/Boats coverage, a Full Average Clause -
✔✔Relates an insurer's share of a loss to the adequacy of the amount of insurance.
✔✔An insurance broker whose registration is restricted to acting under supervision may
perform which of the following? - ✔✔Solicit insurance from members of the public
anywhere in Ontario
✔✔When collecting a premium deposit, the agent is required to do which of the
following? - ✔✔Place the deposit in a trust account
✔✔The purpose of Accident Benefits coverage is to provide the insured with which of
the following? - ✔✔Financial protection following physical injury
✔✔A claim under a liability policy may be triggered by which of the following? - ✔✔A
negligent act
✔✔Your client tells you that while visiting his prospective in-laws, he accidentally burnt
a small hole in their rug. The client wants to know if the cost of repairing the rug is
covered under his Tenants Comprehensive Policy. What do you advise your client? -
✔✔Yes, coverage under the Voluntary Property Damage section would apply.
✔✔In section 2 Liability Coverage of the Homeowners Comprehensive Policy, coverage
is provided for Voluntary Payment for Damage to Property in which of the following
situations? - ✔✔Property of others damaged intentionally by the insured's 10-year-old
son, for which he is not legally liable.
✔✔A liability policy written on a claims-made basis will respond to injury or damages
that: - ✔✔Occur to the policy inception and are reported during the policy period
, ✔✔What provisions are included in the Basic Fire Policy for removal of property to
prevent further loss or damage? - ✔✔Automatic coverage is given for a limited time and
subject to certain conditions
✔✔In the rating of a Commercial Property Floater, the amount added to a basic fire rate
is called - ✔✔Loading.
✔✔Which of the following major perils is covered when insuring boilers? - ✔✔Cracking
✔✔An insured with automobile insurance is riding her bicycle when she is struck by an
automobile. She suffers minor injuries. Medical payments for the insured will - ✔✔Be
paid by the insured's automobile policy under Accident Benefits
✔✔A Commercial Crime Insurance Policy: - ✔✔Allows the selection of coverages from
a menu
✔✔Which of the following statements about the OAP 1 Owners Policy Direct
Compensation - Property Damage coverage is incorrect? - ✔✔The accident may occur
anywhere in Canada and at least one of the other automobiles involved is insured under
a motor vehicle liability policy.
✔✔A number of factors may be involved in determining the premium for travel health
insurance. Which one of the following is UNLIKELY to affect the premium? - ✔✔The
mode of transportation and the common carrier used
✔✔The RIB Act requires that evidence of coverage must be provided to the buyer within
which of the following periods? - ✔✔Within 21 days
✔✔A dwelling valued at $100,000 is owned and insured by three people. The first
person has $50,000 invested, the second person has $25,000 invested, and the third
person has $25,000 invested. The first person resides in the house, which is insured for
$60,000. The house is demolished by a tornado. How much would the second person
receive from the insurer? - ✔✔$15,000
✔✔Following registration as an insurance broker, an individual - ✔✔Must notify the
Registered Insurance Brokers of Ontario within 30 days of any change of information in
the original application for registration or renewal.
✔✔If the insured drove his automobile into his own garage door, what would be
included under the Own Damage coverage of his automobile policy? - ✔✔The auto
✔✔Individual losses for the OAP 1 are subject to a deductible. However, no deductible
applies to losses resulting from which of the following perils? - ✔✔Fire or lightning
