ONTARIO AUTO EXAM (RIBO) UPDATED QUESTIONS AND CORRECT ANSWERS 100% PASS GUARANTEED WITH DETAILED SOLUTIONS & APPROVED 2024

A cigarette sets the automobile seat on fire and causes $450 damage. The policy shows a $300 deductible under Specified Perils. The insurer would pay: A. $0 B. $150 C. $300 D. $450 Deductible does not apply or is $0 in case of fire or lightening. - Answer-D. $450 A client phones to tell you he has brought a high-end stereo system costing $5,000, which has been installed in his car. What should you tell him? A. Be sure to always lock the car, as there is no coverage if the system costing $5,000 is stolen when the car is unlocked. B. There is no coverage on the system without an approved security system in the car. C. No further action is needed. The new system is automatically covered under his O.A.P. 1 Owners's Form as a part of the car. D. To provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Form endorsed to cover its full value. - Answer-D. To provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Form endorsed to cover its full value. A hit and run driver injures a cyclist, who does not own an auto, which one of the following statements is TRUE. A. The cyclist cannot claim for injuries from anyone because he/she does not have auto insurance. B. The cyclist can claim for injuries against Ontario Motor Vehicle Compensation Fund. C. The cyclist cannot claim for injuries because the driver is unidentified and may not have insurance.D. The cyclist can claim or injuries against Ontario Motor Vehicle Compensation Fund only if injuries meet the "threshold" for a claim. - Answer-B. The cyclist can claim for injuries against Ontario Motor Vehicle Compensation Fund. A horse and buggy are hit by an automobile. The horse is killed. The automobile has been damaged but not the buggy. Which of the following coverages apply: A. Own Damage B. Third Party Liability (Property Damage) C. Neither of the above. D. Both of the above. - Answer-D. Both of the above. A misrepresentation fact on an application for automobile insurance (OAF 1 ) may cause the insurer to A. Increase the deductible imposed. B. Make an official complaint to the Superintendent of Insurance in the Province. C. Demand the completion of a corrected OAF 1. D. Void the contract. - Answer-D. Void the contract. All accidents and claims within the following time period immediately proceeding the application must be disclosed. A. Three (3) years. B. Four (4) years. C. Five (5) years. D. Six (6) years. - Answer-D. Six (6) years. All clients should be counselled regarding the availability of optional BENEFITS available under O.A.P.1 Owner's Form. Which one (1) of the following is NOT available?A. Increased Income Replacement Benefit B. Excess Economic Loss Endorsement C. Indexation Benefit D. Increased Caregiver Benefit. HINT - Only B is and endorsement NOT benefit, hence the correct answer. Refer - P28 4.4 - Answer-B. Excess Economic Loss Endorsement All of the following statements about the risks insured by the Facility Association are true EXCEPT which one: A. The facility association only provides coverage for those who may not be able to obtain insurance in the regular market. B. To place a risk with the Facility, the application must be accompanied with a rejection letter. C. A broken can assign facility business to any insurer. D. The Compulsory Insurance Act requires that all applicants must be able to obtain an automobile insurance. - Answer-C. A broken can assign facility business to any insurer. All Perils provides coverage for all of the following situations EXCEPT loss or damage: A. caused if a person who lives in the insured's household steals the vehicle. B. when an employee of the insured, whose duties include driving the auto, steals it outside of working hours. C. that results when the insured sells the auto to a stranger whose cheque bounces and then the insured reports it as stolen. D. caused by collision or upset of the vehicle. - Answer-C. that results when the insured sells the auto to a stranger whose cheque bounces and then the insured reports it as stolen.