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

What is the mandate of the Canadian Council of Insurance Regulators (CCIR.?

• A.To regulate the insurers' coverage and premiums in Ontario for the fair treatment of consumers.
• B.To regulate and promote the fair treatment of the Canadian consumer.
• C.To facilitate and promote an efficient and effective insurance regulatory system in Canada to serve the public interest.
• D.To facilitate public knowledge of the Ontario Auto and Homeowners Policies.

A broker discovers the client does not have sewer back up coverage, and that the location now qualifies for it.
What should the broker do next?

• A.Notify the client 30 days prior to renewal, offer to quote & add.
• B.Notify the client immediately, quote sewer backup, offer to add.
• C.Immediatley add the coverage, notify the client.
• D.Notify the client 60 days prior to renewal, offer to quote & add.

What does the acronym COPE stand for?

• A.Construction Outdoor Policy Exclusion.
• B.Commercial Operating Procedure Endorsement.
• C.Commercial Office Policy Endorsement.
• D.Construction Occupancy Protection Exposure.

A Broker enters the requested coverages and deductibles into their quoting software to obtain a quote for a client's automobile insurance request. When the quotes are generated, the Broker notices that some insurance companies have quoted with different deductibles or coverage limits. What should the broker do?

• A.Review all quotes and offer the lowest price, regardless of the coverage limits and deductible options.
• B.Review all quotes noting the coverage and deductable differences and present the options to the clients along with the quoted premiums.
• C.Review all quotes and offer only the top three quotes that offer similar coverage and deductibles.
• D.Review all quotes and offer the client a quote with the carrier that is most comparable to the coverage and deductibles requested, regardless of the price.

Which of the following is NOT a valid reason for using a "Telephone Hot-line" to report claims?

• A.To control costs.
• B.To determine urgency of the insured's condition.
• C.To direct customers to appropriate medical facilities.
• D.To report the incident to the Financial Services Regulatory Authority of Ontario (FSRA..