Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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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!

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!

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Which statement is NOT true regarding lawsuits in Ontario?

Permitted with respect to economic loss under certain circumstances
Not permitted with respect to non-economic loss unless the threshold has been met
Not permitted with respect to most health care expenses
Not permitted with respect to catastrophic impairment

The correct answer is: Not permitted with respect to catastrophic impairment

In the province of Ontario, lawsuits are permitted under certain circumstances for economic loss and non-economic loss if the threshold has been met. However, lawsuits are not permitted for most health care expenses, meaning that a person cannot sue for compensation for these expenses. On the other hand, catastrophic impairment is a type of injury that is severe and permanent, which allows individuals to file for lawsuits in order to receive compensation for their losses. Therefore, Option D, which states that lawsuits are not permitted for catastrophic impairment, is the incorrect statement as a person can take legal action for such an injury.