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IIC RIBO Level 1 Entry-Level Broker Exam Sample Questions (Q30-Q35):

NEW QUESTION # 30
Under the Uninsured Automobile Coverage, who is covered for bodily injury or death?

Answer: A


NEW QUESTION # 31
Which is a non medical coverage offered as part of Travel health insurance plan?

Answer: C

Explanation:
The correct answer is C because family transportation if the traveler is hospitalized is a common example of a non-medical benefit included in many travel health insurance plans. Travel health insurance does not only cover emergency medical treatment; it often also includes related assistance benefits such as transportation of a family member, return of dependants, meal and accommodation allowances, emergency evacuation, repatriation, and bedside visit expenses. These are not medical treatments themselves, but they are important supportive coverages that arise because of a medical emergency during travel.
A is incorrect because prescription drug coverage for pre-existing conditions is generally limited, excluded, or strictly controlled under travel medical policies unless very specific underwriting requirements are met. B is not a standard travel health insurance benefit in the way described; a simple taxi fare to the airport is usually not recognized as a core insured non-medical travel health coverage. D is incorrect because an ultrasound is a medical diagnostic expense , not a non-medical coverage.
From a RIBO standpoint, this question tests the broker's ability to distinguish between medical expenses and ancillary assistance benefits within travel insurance. A broker should explain both types clearly so clients understand that travel health insurance may include emergency support services in addition to treatment costs.


NEW QUESTION # 32
A condo owner failed to advise that they now rent out their unit and the tenant has caused a fire. What is most likely to happen?

Answer: C

Explanation:
The correct answer is C because changing a condo unit from owner-occupied to tenant-occupied is a material change in risk that must be disclosed to the insurer. Occupancy is a major underwriting factor in property insurance. When a unit is rented out, the insurer may assess the risk differently because tenant occupancy can change exposure to liability, moral hazard, maintenance issues, and frequency or severity of loss. If the insured fails to report that change, the insurer may treat the policy as having been issued or continued on incorrect underwriting information.
A is incorrect even though fire is normally an insured peril. Coverage still depends on compliance with policy conditions, including the duty to disclose material changes. An insured peril does not automatically guarantee payment if the policyholder has breached a fundamental disclosure obligation. B is not the most likely outcome because the issue is not simply dividing owner property from tenant-related loss; it is the undisclosed change in occupancy. D is also incorrect because this is not primarily a valuation issue such as replacement cost versus actual cash value.
From a RIBO perspective, this question tests the broker's duty to recognize and explain material change in risk . A broker should always advise clients to report changes in occupancy immediately, because failing to do so can jeopardize coverage or lead to denial of a claim.


NEW QUESTION # 33
A broker is approached by a high-net-worth client who wants to place their unique collector car insurance with an unlicensed US-based insurer because the rates are significantly lower. What is the broker's primary obligation?

Answer: D

Explanation:
This question tests the broker's understanding of Legal and Regulatory Compliance regarding Unlicensed Insurers, as outlined in Ontario Regulation 991, Section 10. While the primary duty of a broker is to place business with insurers licensed in Ontario, there are specific, narrow circumstances where an unlicensed insurer can be used.
Under the RIBO Level 1 Blueprint, a broker must demonstrate the "Integrity, Ethics, and Trust" needed to handle such high-risk transactions. The broker must first conduct a "market search" to prove that no licensed insurer in Ontario is willing to take the risk. If an unlicensed insurer is the only option, the broker must provide a mandatory written disclosure to the client. This disclosure must warn the client that:
* The insurer is not regulated by Ontario authorities.
* There is no "compensation fund" (like PACICC) if the insurer goes bankrupt.
* Legal action against the insurer may have to be pursued in a foreign jurisdiction.
The broker must obtain a signed acknowledgment from the client before binding the coverage. Choosing Option A (ignoring the rules for savings) or Option D (avoiding responsibility) constitutes professional misconduct. Option B is incorrect because the lawdoesallow it if the proper disclosures and "due diligence" are performed. The RIBO Competency Profile emphasizes that brokers must be transparent about the
"suitability" of products. By following the disclosure process, the broker protects the client's right to choose while shielding the brokerage from an Errors and Omissions (E&O) claim if the foreign insurer fails to pay a claim. This situation requires high-level Critical and Analytical Thinking to balance the client's needs with strict provincial regulations.


NEW QUESTION # 34
What are three elements commonly found in a Commercial General Liability policy?

Answer: B

Explanation:
The correct answer is A . A Commercial General Liability (CGL. policy is typically organized around several core components, and three of the most common are the declaration page , the insuring agreements , and the limits/deductibles . The declaration page identifies the named insured, policy period, type of business, locations, and the liability limits purchased. The insuring agreements explain the scope of coverage, such as bodily injury, property damage, personal injury, and legal defence obligations, subject to the wording of the form. Limits and deductibles show the maximum amount the insurer will pay and any amount the insured must absorb before coverage applies in situations where a deductible exists.
B is incorrect because the application may support underwriting, but it is not usually one of the principal structural parts of the policy wording itself, and "warranties" are not a standard defining trio for a CGL form.
C and D are incorrect because Accident Benefits are an automobile insurance concept, not a standard part of a CGL policy. "Statutory Conditions" are also more commonly associated with auto or property policy frameworks rather than the classic three-part description of a CGL form.
From a RIBO exam perspective, remember the CGL structure as: who is insured, what is covered, and how much is payable .
'


NEW QUESTION # 35
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