Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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Highway Victims Indemnity Funds:

Exist all across Canada and the United States Of America.
Will not pay a claimant who is at fault for their injuries.
Pay claims of all policyholders for general damages.
Limit payments for bodily injuries to the minimum limit in the insured's home province.

The correct answer is: Will not pay a claimant who is at fault for their injuries.

Highway Victims Indemnity Funds are established to provide financial assistance to victims of motor vehicle accidents. They are typically funded by premiums paid by drivers and may only cover certain types of damages. Option A is incorrect because these funds may only exist in specific regions and may not cover accidents that occur in other areas. Option C is incorrect because they typically only cover specific types of damages, such as medical expenses or lost wages. Option D is incorrect because the funds may not be limited to the minimum limit in the insured's home province, as this can vary depending on the jurisdiction. Option B is the correct answer because the claimant must not be at fault for their injuries in order to be eligible for compensation from the fund. This is to prevent individuals from purposely causing accidents in order to receive financial assistance.