ACCREDITED CONTINUING EDUCATION & ONLINE INSURANCE COURSES FOR FUNDAMENTALS OF INSURANCE, CAIB*, RIBO**, ALBERTA GIL & OTHERS

November 7, 2018

Last Updated on May 3, 2024 by Pichada Wangsangthong

The RIBO Unrestricted Management exam allows you to become a Principal Broker of an insurance brokerage.  Before you can take this exam, you must have 2 years experience as a licensed RIBO broker.

We have a few students trying for the RIBO Unrestricted Management exam soon and they inspired me to write about the exam.  In this post, I’ll talk about:

  • How much time you have to write the exam
  • What grade you need to pass the exam
  • Format and weighting of the exam

How much time so I have to write the RIBO Unrestricted Management exam?

You will have 3 hours to write the exam.

What do I need to pass the exam?

The exam is broken up into 3 parts (discussed later).  You need to score at least a 60% on each part with a minimum overall score of 75% to pass the exam.

If you failed to get 60% in Part 1 or 2, but still scored a 75%, you can just retake the Parts you failed.  You will not need to retake the whole exam.

How is the exam formatted & weighted?

It is broken down into 3 Parts:

  1. RIB Act & Regulations: This section has 20 Multiple Choice questions worth 20 marks total and makes up about 17% of the total exam content.
  2. Administration & Finance: This section requires you to answer short answer questions for a total of 85 marks.  This part makes up the bulk of your exam at 70%.
  3. RIBO Form 1 & Financial Statements: This section is also shower answer questions worth 15 marks in total.  This section makes up 13% of the exam content.  Basically they give you some sample information and you need to fill out a Form 1 with it.

Exam Eligibility

To write this exam, you need 2 things:

  1. An active RIBO 1 license
  2. 2 years experience working as a broker

I hope this was able to help some of you.  If you still have questions about this, feel free to contact me anytime.  If you’re interested in learning about the RIBO Unrestricted Technical exam, we have an article on that too.

[April 30, 2024 UPDATE: Starting April 1, 2023, level 1 licensees are classified as brokers holding Entry Level Broker or Level 1 competency (previously Acting Under Supervision and Acting Under Supervision (No A&S or Travel or Including Travel, No A&S)).]

Jacques Wong is the CEO and Director of Education at PNC Learning. An award-winning licensed insurance broker with over 15 years of experience in both education and the insurance industry, Jacques is recognized for his expertise and effective communication strategies. He achieved the highest provincial scores on his CAIB* 3 and CAIB* 4 exams and contributes to leading insurance publications. Jacques is dedicated to making insurance knowledge accessible for everyone through his unique approach and online content.

Jacques Wong

 Jacques wong

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