RIBO ACT TEST PRACTICE QUESTIONS
AND ANSWERS
An insurance broker means any person who for any compensation, commission or other
thing of value, with respect to persons or property in Ontario, deals directly with the
public and holds himself, herself out as:
a. Risk management service provider
b. Makes recommendations or gives advice regarding the insurance plan
c. Acts or aids in negotiating the contract of insurance
d. Both B and C
e. All of the above - Correct Answers -e. All of the above
A manager may cancel a registration when:
a. Written resignation is received from a member
b. A member is in default of fees within 15 days notice
c. When suspension of a license is over six months
d. When all members has had a complaint filed against them
e. All except D - Correct Answers -a. Written resignation is received from a member
No person shall use the title "registered insurance broker" unless:
a. They have complied with all the educational requirements
b. They are a holder of a certificate as a registered broker under RIBA
c. Paid all their fees
d. Appointed as a trustee under the Act
e. All of the above - Correct Answers -e. All of the above
Subject to the regulation, the council shall be composed of:
a. Three elected non members and eight appointed members
b. Four appointed non members and nine elected members
c. Nine elected non members and four appointed members
d. Six appointed non members and six elected members
e. None of the above - Correct Answers -b. Four appointed non members and nine
elected member
No person shall act as an insurance broker unless the person is a registered insurance
broker under this act except:
a. Appointed trustees under this act
b. Actuaries acting in their professional capacity
c. Police officers
d. Both A and B
e. All of the above - Correct Answers -d. Both A and B
, Within four months after termination of each financial year, the Corporation must
provide to its members and the minister an annual report relating to its activities in the
year excluding:
a. Summary of the complaints received against its members
b. Summary of the applications for registration and the respective dispositions
c. Identify matters of policy currently under review
d. Membership statistics
d. None of the above - Correct Answers -d. None of the above
The council may pass-by-laws relating to the administrative and domestic affairs of the
Corporation not inconsistent with this Act and the regulations and, without limiting the
generality of the foregoing:
a. Providing procedure for election of President, Vice-Presidents, and officers of the
Corporation
b. Respecting the calling, holding and conducting of meeting of the membership of the
Corporation
c. Respecting the keeping of records by the Corporation, Council, committees, and
members
d. Respecting the duties and authority of the Manager
e. All of the above - Correct Answers -e. All of the above
In case of hearings into allegations of misconduct or incompetence, the Discipline
Committee shall:
a. Determine whether the member is guilty of misconduct
b. Consider the allegations, hear the evidence and ascertain the facts of the case
c. Determine upon the evidence and facts if the allegations have been proven
d. Determine the penalty imposed
e. All of the above - Correct Answers -e. All of the above
Where the Qualification and Registration Committee proposes to refuse or grant a
certificate it must service written notice:
a. To the Discipline Committee
b. To the applicant within 15 days
c. To the Manager
d. To the applicant with a notice of entitlement to a hearing
e. All of the above - Correct Answers -d. To the applicant with a notice of entitlement to
a hearing
Every individual member must:
a. Register under this Act
b. Not be in default of any payment
c. Take and pass additional examinations as Council deems necessary
d. Both A and B
e. All of the above - Correct Answers -e. All of the above
AND ANSWERS
An insurance broker means any person who for any compensation, commission or other
thing of value, with respect to persons or property in Ontario, deals directly with the
public and holds himself, herself out as:
a. Risk management service provider
b. Makes recommendations or gives advice regarding the insurance plan
c. Acts or aids in negotiating the contract of insurance
d. Both B and C
e. All of the above - Correct Answers -e. All of the above
A manager may cancel a registration when:
a. Written resignation is received from a member
b. A member is in default of fees within 15 days notice
c. When suspension of a license is over six months
d. When all members has had a complaint filed against them
e. All except D - Correct Answers -a. Written resignation is received from a member
No person shall use the title "registered insurance broker" unless:
a. They have complied with all the educational requirements
b. They are a holder of a certificate as a registered broker under RIBA
c. Paid all their fees
d. Appointed as a trustee under the Act
e. All of the above - Correct Answers -e. All of the above
Subject to the regulation, the council shall be composed of:
a. Three elected non members and eight appointed members
b. Four appointed non members and nine elected members
c. Nine elected non members and four appointed members
d. Six appointed non members and six elected members
e. None of the above - Correct Answers -b. Four appointed non members and nine
elected member
No person shall act as an insurance broker unless the person is a registered insurance
broker under this act except:
a. Appointed trustees under this act
b. Actuaries acting in their professional capacity
c. Police officers
d. Both A and B
e. All of the above - Correct Answers -d. Both A and B
, Within four months after termination of each financial year, the Corporation must
provide to its members and the minister an annual report relating to its activities in the
year excluding:
a. Summary of the complaints received against its members
b. Summary of the applications for registration and the respective dispositions
c. Identify matters of policy currently under review
d. Membership statistics
d. None of the above - Correct Answers -d. None of the above
The council may pass-by-laws relating to the administrative and domestic affairs of the
Corporation not inconsistent with this Act and the regulations and, without limiting the
generality of the foregoing:
a. Providing procedure for election of President, Vice-Presidents, and officers of the
Corporation
b. Respecting the calling, holding and conducting of meeting of the membership of the
Corporation
c. Respecting the keeping of records by the Corporation, Council, committees, and
members
d. Respecting the duties and authority of the Manager
e. All of the above - Correct Answers -e. All of the above
In case of hearings into allegations of misconduct or incompetence, the Discipline
Committee shall:
a. Determine whether the member is guilty of misconduct
b. Consider the allegations, hear the evidence and ascertain the facts of the case
c. Determine upon the evidence and facts if the allegations have been proven
d. Determine the penalty imposed
e. All of the above - Correct Answers -e. All of the above
Where the Qualification and Registration Committee proposes to refuse or grant a
certificate it must service written notice:
a. To the Discipline Committee
b. To the applicant within 15 days
c. To the Manager
d. To the applicant with a notice of entitlement to a hearing
e. All of the above - Correct Answers -d. To the applicant with a notice of entitlement to
a hearing
Every individual member must:
a. Register under this Act
b. Not be in default of any payment
c. Take and pass additional examinations as Council deems necessary
d. Both A and B
e. All of the above - Correct Answers -e. All of the above
