Question: What Is Ribo Exam?

Regulated by the Registered Insurance Brokers of Ontario (RIBO), the successful completion of the entry-level examination allows you to provide insurance services under the supervision of a senior broker.

What does RIBO license mean?

RIBO stands for the Registered Insurance Brokers of Ontario. RIBO regulates the licensing, professional competence, ethical conduct and insurance related financial obligations of all independent general insurance brokers in the province of Ontario.

Is RIBO exam open book?

The examination of a 3-hour duration contains 90 multiple choice questions. Fifty percent (50%) of the exam will be “open book” and the candidate will be supplied with the Ontario Automobile Policy and the Habitational Policies for reference purposes. The student must obtain a mark of 75% or higher to be successful.

Is RIBO exam multiple choice?

The RIBO 1 exam contains 90 multiple choice questions worth 1 mark each and 1 multi-part case study question worth 10 marks for a total of 100 marks. You have 3 hours to write and to pass the exam, you need to score at least 75% overall.

How long does it take to get results from RIBO exam?

RIBO will communicate results to candidates by email within two weeks of the exam sitting.

How do you do a Ribo exam?

Proceed to exam registration

  1. Register for your RIBO Level 1 Exam. Licensing candidates must abide by the RIBO rewrite policy.
  2. Register for your RIBO Level 2 Unrestricted Exam. Licensing candidates must abide by the RIBO rewrite policy*.
  3. Register for your RIBO Equivalency Exam.
  4. Register for your Travel Health exam.

Is the Ribo exam difficult?

One of the most challenging aspects of the RIBO exams are the Case Study or Narrative (Short Answer) questions. These questions are difficult because they test more than just memorization.

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How much do insurance brokers make in Ontario?

While ZipRecruiter is seeing salaries as high as $171,713 and as low as $22,734, the majority of Insurance Broker salaries currently range between $48,370 (25th percentile) to $96,740 (75th percentile) with top earners (90th percentile) making $148,496 annually in Ontario.

What is LLQP course?

LLQP ( Life License Qualification Program ) is part of the Canadian licensing regime for life insurance sales people. The full version combines life insurance and accident and sickness insurance training. The A&S version covers accident and sickness insurance only.

What is the pass rate for Ribo exam?

The overall passing grade for the Basic Broker Level 1 Exam will remain 75%. Individuals must obtain a minimum mark of 60% in the Travel section of the level 1 exam to be eligible to sell travel health insurance.

How do I get my Ribo license in Ontario?

How To Become a Broker

  1. First passing the Entry Level examination or its Equivalency;
  2. Satisfying the “only business or employment” requirement;
  3. Registering for a RIBO license.
  4. Employment with a RIBO registered general insurance brokerage firm.