[Jul-2026] Latest RIBO-Level-1 Exam Dumps for Pass Guaranteed [Q128-Q144]

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[Jul-2026] Latest RIBO-Level-1 Exam Dumps for Pass Guaranteed

Reliable RIBO Insurance Broker RIBO-Level-1 Dumps PDF Jul 21, 2026 Recently Updated Questions

NEW QUESTION 128
Amir, a client, phones the Broker to advise that his insured vehicle is being repaired in a garage. Amir has just signed an agreement for a rental car. Under O.A.P. 1, where would the coverage for his rental vehicle be found?

Newly Acquired Automobile.

Temporary Substitute Automobile.

Ontario Policy Change Form (OPCF) 27 Legal Liability for Non Owned Automobiles.

Ontario Policy Change Form (OPCF) 20 Coverage for Transportation Replacement.

NEW QUESTION 129
Taylor’s automobile policy has not been renewed by their insurer as one of the listed drivers has four or more convictions on their driving record. Taylor’s renewal date is 60 days away. What is the MOST appropriate way for the Broker to assist Taylor?

Re-quote the policy with the other carriers that are available, discuss all options with Taylor, and send a formal notification of the non-renewal to Taylor.

Re-quote the policy with the other carriers that are available and forward the application to Taylor for their signature.

Send formal written documentation to Taylor stating the insurer is non-renewing the policy and wait for direction from Taylor on the next steps.

Contact the insurer to discuss the non-renewal of the policy and process an amendment to remove the driver with the convictions so that the renewal documents can be issued.

NEW QUESTION 130
What is a Managing General Agent (MGA)?

An agency contracted to do business on behalf of insurers.

A broker contracted to do business on behalf of an insurer.

An insurance company contracted to do business.

A broker contracted to do business on behalf of an MGA.

NEW QUESTION 131
Patricia is being sued for $3 million as a result of an automobile accident where she was deemed 50 percent at- fault. At the time of the loss, Patricia had an automobile policy with Globex Insurance Company and held a liability limit of $2 million. She also had an Umbrella Policy with Eiffel Insurance Company with a $2 million Limit. If the claimant is awarded $3 million, how is the claim payment structured?

Globex Insurance covers $2 million and Eiffel Insurance covers the remaining $1 million.

Globex Insurance covers $1 million and Eiffel Insurance covers the remaining $2 million.

Globex Insurance covers $2 million and Patricia pays the remaining $1 million.

Globex Insurance covers $1.5 million as Patricia was deemed 50 percent at fault.

NEW QUESTION 132
A bank advises a Broker that their client’s mortgage has not been paid for several months. What coverage is available to the Mortgagee on the client’s Comprehensive Homeowner’s Policy?

The Standard Mortgage Clause allows the insurance company to cancel the policy on behalf of the mortgagee.

There is no coverage for this on a Comprehensive Homeowner’s Policy.

The Broker can contact the client to advise of the Mortgage holder’s concern.

The Broker can request the insurance company to cancel the policy for non-payment.

NEW QUESTION 133
Which statement regarding the Uninsured Automobile Coverage in your insured’s O.A.P. 1 Owner’s Policy policy is CORRECT?

It provides coverage for liability to others in case your insured forgets to renew their policy.

It only covers bodily injury but never accidental damage to the insured’s own automobile.

It includes a certain amount of coverage for accidental damage to the insured’s automobile caused by a hit and run automobile, where neither the owner nor driver of the other automobile is identified.

It includes a certain amount of coverage for accidental damage to the insured’s automobile provided the owner or driver of the uninsured automobile is identified.

NEW QUESTION 134
Which is a typical habitational exclusion under a specified perils policy?

Fire.

Falling object.

Electricity.

Vacancy.

NEW QUESTION 135
A Broker is given two days notice from an insurance company that they are getting off risk for a small commercial property account. Which regulation or act outlines regulations governing how insurance companies must handle notice’s of expiry or variation?

Registered Insurance Brokers (RIB) Act.

Insurance Act.

RIBO’s By-laws.

Compulsory Insurance Act.

NEW QUESTION 136
Rashid has purchased a new home that has a woodstove but no current Wood Energy Technology Transfer (WETT) inspection. Coverage is needed for the home closure in 14 days. Company ABC has agreed to provide insurance as long as the WETT inspection is provided within 30 days of possession. What should the Broker do?

Advise Rashid that the WETT inspection is required but no further action is needed.

Advise Rashid to remove the woodstove upon possession, so that they can avoid the hassle of obtaining the WETT inspection.

Advise Rashid of the inspection requirement and that the insurer may require removal of the unit if it does not pass the WETT inspection.

Leave the existence of the woodstove off the application and policy until such time as a WETT inspection is completed.

NEW QUESTION 137
Under the Personal Information Protection and Electronic Documents Act (PIPEDA., what is the first step a broker should take when they suspect an accidental disclosure of a client’s personal information?

Contact the office’s designated privacy officer to report the suspected breach.

Update the client’s file with a note about the potential breach for future reference.

Develop a new data storage protocol to prevent such breaches from occurring again.

Delete all potentially impacted files to eliminate further risks.

NEW QUESTION 138
Claudia contacts her 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.

NEW QUESTION 139
Under the homeowners package policy, which form(s) cover smoke damage to the building from a fireplace?

Broad and Comprehensive Forms.

It is excluded under all policy forms.

Broad and Named Perils Form.

Named Perils Form only.

NEW QUESTION 140
A brokerage’s trust account must be used for which of the following purposes?

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

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

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

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

NEW QUESTION 141
A client who is a new driver has asked for the cheapest vehicle insurance policy available, and expressly requests a policy with no extra endorsements and with the lowest possible limits. Can a Broker sell such a policy to the new driver?

Yes, but document where you have informed the client of the risks of potentially being underinsured.

Yes, the client has the right to choose their policy as long as it meets the statutory requirements.

No, the Broker has a moral duty not to allow a client to be exposed to such liability.

No, as it will expose the broker to vicarious liability of an under-insured client.

NEW QUESTION 142
Which BEST describes Direct Compensation Property Damage (DCPD., also known as “No Fault Insurance”?

Neither party is At Fault when a collision occurs and each party pays their own deductible.

The Third Party’s insurance policy pays for the damages.

Each party claims damages through their own policy and pays their deductible based on the percentage they are deemed to be at fault.

When a collision occurs in a parking lot or on private property, fault determination rules do not apply.

NEW QUESTION 143
Which of the following actions complies with RIBO requirements on confidentiality and referral fees?

Pay a referral fee to a licensed individual informing the client about the referral arrangement is not needed in this situation.

Pay a referral fee to another RIBO licensee and obtain the client’s consent before sharing the client’s personal information.

Provide a discount to a client in exchange for agreeing to have their personal information shared with marketing firms.

Avoid paying any referral fees even to licensed Brokers, regardless of written agreements or disclosures.

NEW QUESTION 144
Simon’s spouse was riding the family’s watercraft when it hit a swimmer. The watercraft is 3 meters long and has a 16 Horse Power Motor and it’s not scheduled under their personal property insurance. As a result of the accident, Simon is being sued for medical expenses and minor injuries that the swimmer sustained. Does Simon have coverage under their property insurance and why?

No, as Simon’s property coverage does not extend to his spouse.

No, as watercrafts with a horse power motors of 16 or more are not included under this policy.

Yes, as liability is automatically extended to personal watercrafts regardless of the watercraft’s horse power.

Yes, as liability is extended to watercrafts of this length with horse power of 16 or less.

IIC RIBO-Level-1 Exam Syllabus Topics:

Topic	Details
Topic 1	Personal Lines Habitational: Focuses on residential insurance including property coverage, risks, policy types, and protection for homeowners, tenants, and dwellings.
Topic 2	Commercial Lines: Covers insurance solutions for businesses, including property, liability, and risk management tailored to commercial operations.
Topic 3	Travel Health: Deals with travel medical insurance, including coverage for emergencies, eligibility, exclusions, and policy conditions for travelers.
Topic 4	General Insurance and Industry Knowledge: Covers the fundamentals of insurance principles, policy structure, regulatory environment, and the roles of key stakeholders within the insurance industry.
Topic 5	Personal Lines Automobile: Explains automobile insurance basics such as coverage types, accident benefits, liability, and policy regulations for personal vehicles.

Latest 2026 Realistic Verified RIBO-Level-1 Dumps: https://www.pdf4test.com/RIBO-Level-1-dump-torrent.html

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[Jul-2026] Latest RIBO-Level-1 Exam Dumps for Pass Guaranteed [Q128-Q144]

IIC RIBO-Level-1 Exam Syllabus Topics:

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