RIBO RIBO RIBO ACT INFORMATION EXAM QUESTIONS WITH 100% CORRECT SOLUTIONS ALREADY PASSED!!

incapicitated member - Answer-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 - Answer-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 - Answer-an individual, partnership or corporating registered under this act to carry on business as an insurance broker. insurance broker - Answer-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 - Answer-- 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 3 committees - Answer-1. qualifications committee 2. complaints committee 3. discipline committeemailing address - Answer-every member but maintain a mailing address in ontario. offence - Answer-if one commits an offcence they can be subject to 100,000 or 6 months in jail, for a corporation it is a fine of 200,000