Registered Insurance Brokers of Ontario (RIBO) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Registered Insurance Brokers of Ontario Exam with comprehensive quizzes, flashcards, and expert tips. Build your confidence and knowledge to succeed in your licensing journey!

Start Multiple Choice Practice Test
Start Flash Cards

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

In Ontario, an auto policy can be changed by the use of approved endorsements to:

  1. They only apply to Section 7- Loss or Damage

  2. They may be used to increase limits of insurance for accident benefits only.

  3. They are available only from the government.

  4. They may be used to increase limits of insurance and/or reduce deductibles.

The correct answer is: They may be used to increase limits of insurance and/or reduce deductibles.

Endorsements are changes or additions to a standard insurance policy that modify its terms, conditions, or coverages. In the province of Ontario, approved endorsements can be used to increase the limits of insurance and/or reduce deductibles for auto policies. Options A and B are incorrect because they only mention specific situations (Section 7 and accident benefits) and do not cover all possible changes that an endorsement can make. Option C is also incorrect as endorsements are available from insurance companies, not the government. Option D is the most accurate and comprehensive choice.

More Questions Like This