Question 1

Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the insured. What benefit CANNOT be changed?

Options :

A : Death and Funeral Benefits.

B : Income Replacement Benefit.

C : Caregiver Benefit for Catastrophic Injuries.

D : Disability Benefit after Age 65.

Answer: D

Question 2

A broker discovers the client does not have sewer back up coverage, and that the location now qualifies for it. What should the broker do next?

Options :

A : Notify the client 30 days prior to renewal, offer to quote & add.

B : Immediatley add the coverage, notify the client.

C : Notify the client immediately, quote sewer backup, offer to add.

D : Notify the client 60 days prior to renewal, offer to quote & add.

Answer: C

Question 3

The RIBO Code of Conduct is outlined in Ontario Regulation 991, Section 14. Which provision is NOT outlined in the Code of Conduct?

Options :

A : To maintain a Trust Account for all trust money received.

B : To be both candid and honest when advising the member's client.

C : Not to charge or accept any fee which is not fully disclosed prior to the service being rendered.

D : To be competent to perform the services which the member undertakes on the client's behalf.

Answer: A

Question 4

Many automobile insurers have introduced User-Based Insurance (UBI) programs (e.g., Telematics) to help determine rating and insurance premiums. Which MOST accurately describes elements that a UBI program tracks?

Options :

A : Time of day driven and rapid acceleration.

B : Number of drivers in the vehicle and hard braking.

C : Where the vehicle is driven and gross vehicle weight.

D : Number of kilometers driven and occupation.

Answer: A

Question 5

Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which of the following steps should you take?

Options :

A : Issue the policy as requested.

B : Decline to issue the policy as the son is obviously the principal driver and registered owner.

C : Place the policy with another insurer and rate the father as the principal driver.

D : Advise the son to register the vehicle in his mother's name and rate it on her driving record.

Answer: B

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