RIBO ACT INFORMATION 60 EXAM QUESTIONS AND ANSWERS

incapicitated member - ️️a member suffering froma physical or mental condition or disorder and can no longer carry on business as a registered insurance broker, this is typically determiend by the manager. insurance broker - ️️any person who for any comepnsation, commission or other thing of calue, with respect to persons or property in ontario, deals directly with the public. member - ️️an individual, partnership or corporating registered under this act to carry on business as an insurance broker. insurance broker - ️️no person shall act as an insurance broker unless you are... *Lawyer, accountant, or actuaries acting in their professional capacity *Licensed insurance adjuster *Reinsurance broker *a salaried employee who seeks insurance for an employer as long as they dont get paid *a person registered under the travel insurance industry act *clerical administrative staff *trustees appointed under this act *an employee who is emplyed by the insured to discuss the policy but not allowed to sell business or amend any coverage Resign polic - ️️- must be filled with a manager and a resignation eltter but the indidvidual is still subjet to disciplinary action arising from misconduct prior to the resignation being accepted -a manager can cancel a registration for non-payment of any prescribed fee after giving the member at least one months notice in writing of the default and intention to cancel the registration