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RIBO-Level-1 RIBO Level 1 Entry-Level Broker Exam is now Stable and With Pass Result | Test Your Knowledge for Free

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RIBO-Level-1 Practice Questions

RIBO Level 1 Entry-Level Broker Exam

Last Update 21 hours ago
Total Questions : 115

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Our free RIBO Insurance Broker practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about RIBO-Level-1. Use this test to pinpoint which areas you need to focus your study on.

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Question # 11

Nancy called Hula Brokers to set up a new policy. She told them she is picking up her vehicle at 9:00 pm on September 1st, 2025. When does Nancy's policy expire?

Options:

A.  

12:01 pm October 1st, 2025.

B.  

12:01 am September 1st, 2026.

C.  

9:00 pm September 1st, 2026.

D.  

12:01 am October 1st, 2025.

Discussion 0
Question # 12

Directly or indirectly, making an agreement as to the premium to be paid other than as set forth in the policy is considered "misconduct" under the RIB Act. Which action is NOT considered a "misconduct"?

Options:

A.  

Allowing a refund to the client not authorized by the policy.

B.  

Giving a rebate to a policyholder of the whole or part of the premium.

C.  

Paying the cost of a family's vacation in Florida in return for them agreeing to purchase their insurance from you.

D.  

Allowing a dividend or bonus as provided for in the policy.

Discussion 0
Question # 13

A Broker enters the requested coverages and deductibles into their quoting software to obtain a quote for a client's automobile insurance request. When the quotes are generated, the Broker notices that some insurance companies have quoted with different deductibles or coverage limits. What should the broker do?

Options:

A.  

Review all quotes noting the coverage and deductable differences and present the options to the clients along with the quoted premiums.

B.  

Review all quotes and offer the client a quote with the carrier that is most comparable to the coverage and deductibles requested, regardless of the price.

C.  

Review all quotes and offer the lowest price, regardless of the coverage limits and deductible options.

D.  

Review all quotes and offer only the top three quotes that offer similar coverage and deductibles.

Discussion 0
Question # 14

Under a standard Mortgage Clause, what happens if the insured intentionally sets fire to their home?

Options:

A.  

The insurer will deny the claim to both the insured and the mortgagee.

B.  

The insurer will pay the claim to the insured, but recover the funds from the mortgagee later.

C.  

The insurer will deny the claim to the insured, but will pay the mortgagee’s interest in the property.

D.  

The insurer is required to pay both parties because the mortgage was in good standing.

Discussion 0
Question # 15

What is a possible affect of a "Co-insurance Clause" on the settlement of a loss?

Options:

A.  

It may increase the amount to be paid by the insurer.

B.  

It may affect the third party in a liability claim.

C.  

It may decrease the amount to be paid by the insurer.

D.  

It may affect the insured's personal liability coverages.

Discussion 0
Question # 16

Which of the following would be considered a "material change in risk"?

Options:

A.  

A client re-paints the interior of their home.

B.  

A client installs a woodstove at their cottage.

C.  

A client replaces worn carpeting in their home.

D.  

A client installs a ceiling fan in their bedroom.

Discussion 0
Question # 17

A building worth $100,000 is insured for $60,000 under a policy with an 80% co-insurance clause. Fire damages the building to the extent of $20,000. How much does the insurer pay?

Options:

A.  

$15,000

B.  

$18,000

C.  

$16,000

D.  

$20,000

Discussion 0
Question # 18

Which OPCF Form provides coverage for Automobile Insurance Policy, Family protection?

Options:

A.  

OPCF 22.

B.  

OPCF 23.

C.  

OPCF 44.

D.  

OPCF 6

A.  

Discussion 0
Question # 19

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?

Options:

A.  

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

B.  

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

C.  

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

D.  

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

Discussion 0
Question # 20

What does a medical questionnaire for Travel insurance determine?

Options:

A.  

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

B.  

The client's eligibility and rate category.

C.  

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

D.  

Mode of travel and length of stay for client.

Discussion 0
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