[Q104-Q122] Easily To Pass New RIBO-Level-1 Premium Exam Updated [Oct 19, 2026]

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Easily To Pass New RIBO-Level-1 Premium Exam Updated [Oct 19, 2026]

RIBO-Level-1 Certification All-in-One Exam Guide Oct-2026

IIC RIBO-Level-1 Exam Syllabus Topics:

Section	Weight	Objectives
Travel Insurance	5%	– Travel health insurance products – Coverage limitations and exclusions – Emergency medical coverage
Commercial Lines	20%	– Reinsurance and subscription policies – Business interruption insurance – Coinsurance principles – Commercial property insurance – Commercial automobile insurance – Commercial General Liability (CGL)
Personal Lines Automobile Insurance	25%	– OPF #2 – Policy Forms – Automobile coverage options and endorsements – OAP #6 – Uninsured Automobile Coverage – Fault determination rules – Ontario Automobile Policy (OAP) #1
Personal Lines Habitational Insurance	25%	– Liability coverage – Homeowner’s insurance policies – Vacancy permits and exclusions – Condominium and tenant insurance – Fire and Extended Coverage (EC)
General Insurance and Industry Knowledge	25%	– Professional standards and ethics – RIBO By-Laws – RIB Act and Regulations – Ontario insurance industry overview – Insurance fundamentals and principles

NO.104 What should a Commercial Vehicle Operator’s Registration (CVOR. include?

Description of the nature of the applicant’s business and the experience for all drivers on like vehicles.

The number of unlisted drivers in the business and who will be operating which vehicle.

The amount of money the applicant makes in their business and the amount they write off on their taxes.

The purchase price of each vehicle including taxes and where these vehicles will be parked.

NO.105 Additional Living Expense under a Homeowners Comprehensive policy is payable when the premises become unfit for occupancy in what circumstance?

The insured must live elsewhere while the home is sprayed for insects.

A room is damaged by rain entering a window left open during a heavy rainstorm.

The insured’s home has suffered damage by an insured peril.

The insured is having his home renovated.

NO.106 Which of the client situations would prompt you to discuss a change to their habitational policy?

Your client tells you they are going to replace their garden shed.

Your client tells you that they have purchased a boat.

Your client tells you they are using a neighbour’s trailer for a few months and will store it in their garage.

Your client tells you they have moved their office to be entirely in their spare bedroom.

NO.107 An accident in Ontario between two Ontario registered and insured cars leaves your insured with permanent serious disfigurement. The other driver’s injuries are neither permanent nor serious. Both cars are damaged, but neither one is insured for collision damage. Both drivers are found equally to blame for the accident.
Which of the following statements is INCORRECT?

The other driver will be entitled to sue your insured for economic loss.

Your insured will not be entitled to sue the other driver for their injuries.

Each driver will collect 50% of the damage to their own vehicle under their own policy.

Each driver will be paid medical expenses and loss of income benefits under their own policy.

NO.108 You would be wise to point out which feature when discussing travel health insurance with anyone?

Travel health policies may limit coverage and benefits for sickness or injury which does not relate directly to an emergency.

Travel health policies do not provide Accidental Death benefits.

Benefits are payable for elective surgery procedures.

Senior citizen…

NO.109 According to Ontario Regulation 991, Section 16, within how many banking days must a broker deposit trust money into a trust account after receiving it?

Immediately.

3 banking days.

5 business days.

30 days.

NO.110 According to the Registered Insurance Brokers (RIB) Act, how long MUST Brokers maintain records of their transactions?

4 years.

5 years.

6 years.

7 years.

NO.111 Raj is reviewing optional Income Replacement Benefits with a customer who already has a workplace disability plan. What should Raj do before advising the customer to opt out?

Review the customer’s workplace plan and ensure it covers automobile accidents.

Recommend opting out immediately to avoid duplicate coverage.

Refer the customer to a life and health advisor if the customer has questions.

Advise the customer that auto accidents are always covered by their workplace plan.

NO.112 Claudia contacts the Broker requesting a binder certificate for the second mortgage with a private lender.
What is NOT an underwriting concern with this request?

The lender is not regulated like charter banks.

Insured is going through a financial hardship.

Insured is staging a loss to alleviate financial problems.

The lender is located in another province.

NO.113 Which of the following actions is MOST appropriate for a RIBO Level 1 licensee working under the supervision of a Principal Broker?

Take responsibility for establishing office policies and procedures.

Rely on the Principal Broker for guidance when uncertain about compliance with regulatory requirements.

Maintain all client communications and files without Principal Broker oversight.

Solicit insurance business in areas outside of the brokerage’s designated territory.

NO.114 An individual with a bad driving record comes to your office for automobile insurance. You give them a premium quotation. They cannot pay you right away but demands cover immediately. What are you obligated to do?

You are obliged to provide coverage for 21 days.

You must provide coverage. If you wish to cancel it subsequently for non-payment of premium, you must first apply to the Financial Services Regulatory Authority of Ontario (FSRA. for permission to do so.

You must provide an application for completion and forward it to an insurer.

You should report this type of situation to RIBO for guidance.

NO.115 After the July 1, 2026 auto reforms, which individuals will NOT have access to optional accident benefits under someone else’s auto policy?

Pedestrians who are not covered by an auto insurance policy.

Spouses listed under the policy.

Dependant children listed under the policy.

Drivers listed under the policy.

NO.116 An insured is involved in a serious multi-vehicle accident in Ontario. They are 100% at fault for the collision, which resulted in significant injuries to a passenger in another vehicle. The injured party has now filed a lawsuit against your insured. Which part of the O.A.P. 1 will respond to defend the insured and pay the judgment?

Section 3 – Liability.

Section 4 – Accident Benefits.

Section 6 – Direct Compensation – Property Damage (DCPD).

Section 5 – Uninsured Automobile.

NO.117 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?

Time of day driven and rapid acceleration.

Number of drivers in the vehicle and hard braking.

Where the vehicle is driven and gross vehicle weight.

Number of kilometers driven and occupation.

NO.118 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.119 Which of the following is NOT TRUE of the “Replacement Cost” coverage under a Homeowners Comprehensive policy?

Replacement cost coverage applicable to both the building and personal property insured under the policy is basic coverage in all such policies.

Replacement cost coverage for contents must be endorsed on to the policy.

Payment will be made without deduction for depreciation.

Replacement must be made with property of similar quality.

NO.120 As a licensed broker, you learn of significant regulatory changes impacting flood insurance coverage in your area. What steps should you take to ensure you are informed and prepared to advise your clients on these changes?

Attend local insurance seminars and workshops focusing on flood insurance updates.

Rely solely on information from colleagues who are also dealing with similar client queries.

Do nothing until clients specifically ask about flood insurance.

Follow updates from your principal insurance provider’s newsletters or webinars on the subject.

NO.121 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.122 Your insured’s young son has just purchased an automobile and wants you to insure it in his father’s name and show himself as an occasional driver. Which of the following steps should you take?

Issue the policy as requested.

Decline to issue the policy as the son is obviously the principal driver and registered owner.

Place the policy with another insurer and rate the father as the principal driver.

Advise the son to register the vehicle in his mother’s name and rate it on her driving record.