ONTARIO AUTO EXAM (RIBO) QUESTIONS WITH 100 % CORRECT ANSWERS | VERIFIED

Your client calls to advise he/she needs insurance on a car leased from an automobile dealer. Which one (1) of the following policies is required? A. O.A.P. 1 Owner Form, suitably endorsed. B. O.P.F. #2 Driver's Form. C. O.P.F. #6 Non-owned Automobile Form, suitable endorsed. D. Garage Auto Form, suitably endorsed. - Answer-A. O.A.P. 1 Owner Form, suitably endorsed. Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Coverages, is usually subject to a deductible. It does not apply to damage caused by: A. Windstorm B. Explosion C. Vandalism D. Fire (P48. only fire + lightening /no deductible for fire + lightening) - Answer-D. Fire Uninsured Automobile coverage: A. Must be added by endorsement to O.A.P. Owner's Form B. Only cover's bodily injury, but never property damage. C. Can cover accidental damage to the insured's automobile, provided the uninsured owner or the driver of the actual automobile is identified. D. Provides coverage for third parties if the insured causes bodily injury and has breached a statutory condition. P.30 52.3 (Uninsured needs to be identified in order to be categorized under uninsured insurance hence needs to be identified first, to make sure he did not have coverage/insurance in reality) - Answer-C. Can cover accidental damage to the insured's automobile, provided the uninsured owner or the driver of the actual automobile is identified.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.