Last Updated on July 16, 2025 by Jacques Wong, B.Sc.
A lot of people just starting out in the insurance industry will turn to Google for advice and information on how to become an insurance broker in Ontario. In doing their research, they might find snippets of information from different places or information that is downright confusing. With this one article, I’m hoping it’ll tell you everything you need to know about becoming an insurance broker in Ontario.
How to Become an Insurance Broker in Ontario – Step 1
The first step is to study for and pass your RIBO 1 Entry Level exam. This exam covers the basics that you need to know as a beginner broker. Examples of topics you’ll learn include: insurance law, contract law, home insurance, commercial insurance, liability insurance, automobile insurance, and travel insurance.
The exam is comprised of 100 multiple choice questions with 1 case study question worth 10 marks. Applicants need to score at least 75% to pass the exam. If you want to sell travel insurance, you’ll need to pass that portion as well.
I usually recommend students study about 3-4 weeks before taking the exam but many have passed in much less time. In the end, it’s a very individual thing but try to aim for 3-4 weeks so you give yourself a goal. RIBO 1 study materials are available on our website.
Whenever you’re ready, you can register for the exam with RIBO.
[October 15, 2024 UPDATE: Under the new changes, candidates will have access to a consolidated PDF document containing crucial reference materials during the exam: OAP 1, RIBO By-Laws, RIB Act, Ontario Regulations. You can preview these resources inside your respective courses.]
I Passed the RIBO 1 Exam! – Step 2
Congratulations on passing. But you don’t necessarily have your license just yet.
Now that you’ve passed the exam and received your certificate from RIBO, you need to start finding an employer to sponsor your license application. The job seeking process is very similar to what you’ve been doing with other jobs: you prepare a resume, research potential employers, write cover letters, you submit your application and hopefully get an interview.
Once you’ve gotten the job, you will complete the license application form with your employer. Once that’s done (and the paperwork has gone through), you will be the proud holder of a valid RIBO Level 1 license.
This license comes with certain restrictions. You’re only able to work under supervision, you cannot be the principal broker and you cannot handle trust funds.
To work independently, you need to pass the RIBO 2 Unrestricted Technical exam. To be a principal broker or run your own brokerage, you need to pass the RIBO 3 Unrestricted Management exam.
[April 30, 2024 UPDATE: RIBO has reorganized existing license classes into three new levels:
- Level 1 Licensees: 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)).
- Level 2 Licensees: Brokers holding Technical/Commercial competency (previously Unrestricted Technical classes and Unrestricted Technical (No A&S or Travel or Including Travel, NO A&S)).
- Level 3 Licensees: Brokers holding Management competency (previously Unrestricted classes and Unrestricted (No A&S or Travel or Including Travel, NO A&S)).]
More Questions?
This might be new to a lot of you so if you have questions, I have answers. Don’t hesitate to reach out.