RIBO TEST #2 ATTEMPT QUESTIONS
AND ANSWERS
The original perils insured by the Basic Fire Policy include - Correct Answers -fire,
lighting
and limited explosion
The Basic Fire Policy covers which of the following perils? - Correct Answers -fire, direct
damage by lightning and limited explosion
After the theft of a vehicle, when does the Loss of Use section begin reimbursement? -
Correct Answers -72 hours after the theft has been reported to the insurer or to the
police
The insured asks her broker to delete all coverage from her only automobile since she
is going south for three months during the winter. The broker should - Correct Answers -
suspend coverage- opcf16 - suspension of coverage endorsement
When we speak of general insurance, we mean - Correct Answers -insurance other
than life and health insurance.
Damages awarded for out-of-pocket items such as medical expenses are known as
which of the following? - Correct Answers -Special damages
Which of the following parties would be considered to have an insurable interest? -
Correct Answers -A fur shop owner who has a mink stolen in his care, custody, and
control.
Which of the following statements about the OAP 1 Owners Policy Direct Compensation
—Property Damage coverage is INCORRECT? - Correct Answers -The correct answer
is: The accident may occur anywhere in Canada and at least one of the other
automobiles involved is insured under a motor vehicle liability policy.
Your insured has a Tenants Comprehensive Policy through your brokerage. He has
signed a waiver that releases the landlord from liability for injury or damage occurring on
the premises being rented. A fire in the building damages your insured's contents. It is
established that the landlord was responsible for the fire. Which of the following
statements is CORRECT regarding coverage under the policy? - Correct Answers -The
insurer will pay the loss but would be unable to subrogate
AND ANSWERS
The original perils insured by the Basic Fire Policy include - Correct Answers -fire,
lighting
and limited explosion
The Basic Fire Policy covers which of the following perils? - Correct Answers -fire, direct
damage by lightning and limited explosion
After the theft of a vehicle, when does the Loss of Use section begin reimbursement? -
Correct Answers -72 hours after the theft has been reported to the insurer or to the
police
The insured asks her broker to delete all coverage from her only automobile since she
is going south for three months during the winter. The broker should - Correct Answers -
suspend coverage- opcf16 - suspension of coverage endorsement
When we speak of general insurance, we mean - Correct Answers -insurance other
than life and health insurance.
Damages awarded for out-of-pocket items such as medical expenses are known as
which of the following? - Correct Answers -Special damages
Which of the following parties would be considered to have an insurable interest? -
Correct Answers -A fur shop owner who has a mink stolen in his care, custody, and
control.
Which of the following statements about the OAP 1 Owners Policy Direct Compensation
—Property Damage coverage is INCORRECT? - Correct Answers -The correct answer
is: The accident may occur anywhere in Canada and at least one of the other
automobiles involved is insured under a motor vehicle liability policy.
Your insured has a Tenants Comprehensive Policy through your brokerage. He has
signed a waiver that releases the landlord from liability for injury or damage occurring on
the premises being rented. A fire in the building damages your insured's contents. It is
established that the landlord was responsible for the fire. Which of the following
statements is CORRECT regarding coverage under the policy? - Correct Answers -The
insurer will pay the loss but would be unable to subrogate
