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 answer ✅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 answer ✅a. Written resignation is received from a member
No person shall use the title "registered insurance broker" unless:
,RIBO Act Test Practice Questions And
Answers
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 answer ✅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 answer ✅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
,RIBO Act Test Practice Questions And
Answers
b. Actuaries acting in their professional capacity
c. Police officers
d. Both A and B
e. All of the above -
correct answer ✅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 answer ✅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:
, RIBO Act Test Practice Questions And
Answers
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 answer ✅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 answer ✅e. All of the above
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 answer ✅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 answer ✅a. Written resignation is received from a member
No person shall use the title "registered insurance broker" unless:
,RIBO Act Test Practice Questions And
Answers
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 answer ✅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 answer ✅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
,RIBO Act Test Practice Questions And
Answers
b. Actuaries acting in their professional capacity
c. Police officers
d. Both A and B
e. All of the above -
correct answer ✅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 answer ✅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:
, RIBO Act Test Practice Questions And
Answers
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 answer ✅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 answer ✅e. All of the above
