Free IIC RIBO-Level-1 Exam Dumps Questions & Answers

Adam's primary job is driving for Uber and Lyft. As a self employed contractor what coverage would provide him with the best liability protection while driving?

• A.Umbrella Liability.
• B.Section 3, Liability, under the OAP1.
• C.Contractor's Liability.
• D.Comprehensive General Liability.

A condo owner failed to advise that they now rent out their unit and the tenant has caused a fire. What is most likely to happen?

• A.The claim would be partially covered, owners property only.
• B.The claim would be covered as fire is an insured peril.
• C.The claim would be denied due to a material change.
• D.The claim would be covered, settled on actual cash value rather than replacement cost.

Which of the client situations would prompt you to discuss a change to their habitational policy?

• A.Your client tells you they are using a neighbour's trailer for a few months and will store it in their garage.
• B.Your client tells you they have moved their office to be entirely in their spare bedroom.
• C.Your client tells you that they have purchased a boat.
• D.Your client tells you they are going to replace their garden shed.

Nancy called Hula Brokers to set up a new policy. She told them she is picking up her vehicle at 9:00 pm on September 1st, 2025. When does Nancy's policy expire?

• A.12:01 pm October 1st, 2025.
• B.12:01 am September 1st, 2026.
• C.9:00 pm September 1st, 2026.
• D.12:01 am October 1st, 2025.

How would a broker apply the concept of risk analysis in commercial insurance?

• A.Through evaluating the physical and operational factors impacting the business.
• B.By applying higher deductibles for higher risks such as water damage.
• C.By excluding certain risks from the policy coverage.
• D.Setting out maximum payout limits in a policy term using the aggregate limit option.