RIBO ACT CERTIFICATION PAPER 2026
FULL PRACTICE Q&A GRADED A+
⩥ A manager may cancel a registration when: Answer: 1. for non-
payment of any prescribed fee after giving the member at least one
month notice in writing of the default and intention to cancel the
registration
2. An individual member may resign his or her membership by filing
with the Manager a resignation in writing and the registration is
thereupon cancelled
⩥ No person shall use the title "registered insurance broker" unless:
Answer: the person is the holder of a certificate under this Act
⩥ Subjects to the regulations, the council shall be composed of: Answer:
(a) eight persons who are individual members of the Corporation and are
elected by the members in the manner provided by the regulations;
(b) three persons who are not members of the Corporation and are
appointed by the Lieutenant Governor in Council.
⩥ No person shall act as an insurance broker unless the person is a
registered insurance broker under this Act except: Answer: (a) lawyers,
accountants or actuaries acting in their professional capacity;
(b) an insurance agent licensed under the Insurance Act, while acting
within the authority of his or her licence;
, (c) an insurance adjuster licensed under the Insurance Act, while acting
within the authority of his or her licence;
(d) any individual, partnership or corporation who acts solely as a
reinsurance broker;
(e) a person registered under the Travel Industry Act, 2002, acting in
respect of travel accident and sickness, baggage or trip cancellation
insurance;
(f) an employee of a person registered under this Act when the employee
is acting for or on behalf of his or her employer engaged solely in the
performance of clerical or administrative duties in the office of his or her
employer;
(g) any regular salaried employee of an insured or of a subsidiary or
affiliate or corporate insured whose duties in whole or in part are to
negotiate for or procure insurance or render other services on behalf of
such employer or employers in connection with the procuring or
maintaining of insurance on the property or risks of such employer or
employers if the employee does not receive compensation, commission
or other thing of value from any insurance agent, broker, or insurer for,
or in connection with such services;
(h) a trustee appointed under this Act;
(i) an insurer or a subsidiary or an affiliate of an insurer or any
employee, officer or director thereof if he or she is not acting in any
manner in soliciting, negotiating or procuring the making of any contract
of insurance;
(j) such other persons as are exempted by the regulations.
FULL PRACTICE Q&A GRADED A+
⩥ A manager may cancel a registration when: Answer: 1. for non-
payment of any prescribed fee after giving the member at least one
month notice in writing of the default and intention to cancel the
registration
2. An individual member may resign his or her membership by filing
with the Manager a resignation in writing and the registration is
thereupon cancelled
⩥ No person shall use the title "registered insurance broker" unless:
Answer: the person is the holder of a certificate under this Act
⩥ Subjects to the regulations, the council shall be composed of: Answer:
(a) eight persons who are individual members of the Corporation and are
elected by the members in the manner provided by the regulations;
(b) three persons who are not members of the Corporation and are
appointed by the Lieutenant Governor in Council.
⩥ No person shall act as an insurance broker unless the person is a
registered insurance broker under this Act except: Answer: (a) lawyers,
accountants or actuaries acting in their professional capacity;
(b) an insurance agent licensed under the Insurance Act, while acting
within the authority of his or her licence;
, (c) an insurance adjuster licensed under the Insurance Act, while acting
within the authority of his or her licence;
(d) any individual, partnership or corporation who acts solely as a
reinsurance broker;
(e) a person registered under the Travel Industry Act, 2002, acting in
respect of travel accident and sickness, baggage or trip cancellation
insurance;
(f) an employee of a person registered under this Act when the employee
is acting for or on behalf of his or her employer engaged solely in the
performance of clerical or administrative duties in the office of his or her
employer;
(g) any regular salaried employee of an insured or of a subsidiary or
affiliate or corporate insured whose duties in whole or in part are to
negotiate for or procure insurance or render other services on behalf of
such employer or employers in connection with the procuring or
maintaining of insurance on the property or risks of such employer or
employers if the employee does not receive compensation, commission
or other thing of value from any insurance agent, broker, or insurer for,
or in connection with such services;
(h) a trustee appointed under this Act;
(i) an insurer or a subsidiary or an affiliate of an insurer or any
employee, officer or director thereof if he or she is not acting in any
manner in soliciting, negotiating or procuring the making of any contract
of insurance;
(j) such other persons as are exempted by the regulations.
