RIBO-Level-1 Practice Questions

A.  

Assume the client has already reported the claim to their Insurance Company and take no action.

B.  

In compliance with The All-Comers (TAC) Rule, continue working on the Automobile quotes and contact the client later in the day.

C.  

Contact the client to assess the severity of the damage, provide reassurance and start the claims process.

D.  

Inform the clients that they will contact them once they have completed the Automobile quotes.

A.  

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

B.  

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

C.  

Payment will be made without deduction for depreciation.

D.  

Replacement must be made with property of similar quality.

A.  

Depositing all commissions earned by the brokerage before they are moved to the general account.

B.  

Holding premiums collected from clients until they are remitted to the respective insurance companies.

C.  

Paying the monthly rent and utility bills for the brokerage office.

D.  

Providing short-term loans to employees who are experiencing financial hardship.

A.  

Email.

B.  

Mail.

C.  

Fax.

D.  

Electronic Data Interchange (EDI).