RIBO-Level-1 Practice Questions

A.  

A customer entered your insured's store and secretly carried off several items of merchandise without paying for them.

B.  

A group of violent people entered your insured's store, terrified the clerks on duty and carried away several items of stock and all the cash in the cash register.

C.  

A criminal hid in your insured's store until the store closed in the evening. They then stole several valuable items of stock and took all of the change left in the cash register. They then forced the rear door and escaped.

D.  

An employee stole funds from the cash register while making change for a customer.

A.  

Advise Jalena that no change is required on her policy.

B.  

Check if this is an eligible type of home-based business with her insurer and update the policy accordingly.

C.  

Inform Jalena that she needs a commercial policy.

D.  

Document the change in the Broker Management System for review on renewal.

A.  

Accident and Sickness insurance.

B.  

Business Interruption insurance.

C.  

Property insurance.

D.  

Liability insurance.

A.  

To allow an insured to collect for damage to their own vehicle directly from the at-fault party’s insurer.

B.  

To allow an insured to collect for damage to their own vehicle from their own insurer, even when they are not at fault.

C.  

To provide coverage for injuries to the driver regardless of who is at fault for the accident.

D.  

To provide a fund for people who are injured by motorists who have no insurance.

A.  

$50,000 coverage and valid for 365 days.

B.  

$100,000 coverage and valid for 300 days.

C.  

$100,000 coverage and valid for 365 days.

D.  

$150,000 coverage and valid for 180 days.

A.  

Loss of data storage equipment.

B.  

Software restoration costs.

C.  

Crisis communication management.

D.  

Costs to defend lawsuits.

A.  

a vehicle which replaces one already insured under the policy and not to additional automobiles.

B.  

private passenger vehicles which are mainly used for pleasure purposes.

C.  

private passenger vehicles and no other types of automobile.

D.  

those coverages which applied to the vehicle replaced, or to all of the insured's vehicles if it is an additional automobile.

A.  

$100,000

B.  

$122,222.22

C.  

$200,000

D.  

$133,333.33

A.  

Gross Earnings Insurance.

B.  

Profits Insurance.

C.  

Extra Expense Insurance.

D.  

Consequential Loss Insurance.

A.  

Licensing Brokers to sell auto insurance in Ontario.

B.  

Determining the Fault Determination Rules in an auto accident.

C.  

Working on behalf of customers to govern rules and rates Insurance Companies can offer.

D.  

Providing Motor Vehicle Reports and Claims History Reports for new policies.