RIBO Level 1 Practice Questions - RIBO Level 1 Entry-Level Broker Exam

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Under the Registered Insurance Brokers Act (RIB Act) of Ontario, which of the following individuals is legally required to hold a RIBO licence?

A salaried employee of an insurance company who adjusts property damage claims. An insurance agent employed by a direct-writing insurer representing a single company. An independent intermediary who solicits, negotiates, or procures insurance on behalf of clients with multiple insurance companies. A customer service representative at a direct-writing firm who only provides quotes on their employer's products.

Correct Answer:

An independent intermediary who solicits, negotiates, or procures insurance on behalf of clients with multiple insurance companies.

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