RIBO-Level-1 Practice Questions

A.  

Only input client information and avoid using additional features like note organization.

B.  

Utilize the automated reminders feature to schedule follow-ups.

C.  

Print all digital notes to organize them physically on the broker’s desk.

D.  

Use the CRM to send automated, personalized emails at predetermined times.

A.  

Using email folders and flags to track and prioritize client follow-ups.

B.  

Using the CRM system to set reminders for follow-ups.

C.  

Listing tasks on paper notes.

D.  

Relying solely on memory to manage client interactions.

A.  

Duty of care.

B.  

Consideration.

C.  

The duty was breached.

D.  

Relationship between the breach and damage.

A.  

It only replaces an automobile that is being traded.

B.  

The insurer is notified within 14 days.

C.  

It is not used for business purposes.

D.  

It is not operated by anyone other than the named insured.

A.  

You are obliged to provide coverage for 21 days.

B.  

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 (FSR

A.  

C.  

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

D.  

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

A.  

A scheduled boat and motor vessel used to carry cottagers from the marina to their island property for compensation.

B.  

A loss, not otherwise excluded, to an insured outboard motor while being used by the insured in Florida.

C.  

Damage to the hull of the watercraft caused by ice resulting from failure to drain the compartments when the watercraft was stored for the winter.

D.  

Damage caused by beavers using the watercraft as a winter home while in storage in the insured’s boathouse.

A.  

Maintain a personal bank account for client premiums.

B.  

Negotiate insurance contracts directly with the public.

C.  

Represent only one insurer in all transactions.

D.  

Conduct insurance transactions anonymously.

A.  

Email.

B.  

Mail.

C.  

Fax.

D.  

Electronic Data Interchange (EDI).

A.  

The insurer will only pay one-half of the insurance if one of a pair is destroyed or damaged.

B.  

The insurer will not pay for loss of a pair of precious stones unless they are properly set in the amount containing them.

C.  

Settlement of a loss with respect to an article which is part of a set, shall be based upon the basis that the entire set has been destroyed or damaged.

D.  

Settlement of a loss with respect of an article which is part of a set, shall be based upon a reasonable proportion of the value of the set, but not the entire set.

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.