RIBO Insurance Licensing Cost Breakdown

Last Updated on June 8, 2026 by Jacques Wong, B.Sc.

For many people looking to get started in the insurance industry in Ontario, cost is a major concern. Whether it’s the cost of RIBO 1 study materials, the RIBO exam fees, or the license registration fees, many students want to know what they are and whether they can afford them.

With the RIBO 1 online course, we do our best to make it as accessible as possible with payment plans and other arrangements to suit each student’s needs and budget. But what we can’t control are the RIBO exam fees and other costs.

Because of the cost of administering and marking the exams, RIBO charges a fee to all those who wish to write the exam to help cover costs.

How Much Does It Cost to Write the RIBO Exam?

The RIBO exam registration fees are $300 for each of the 3 RIBO exams: RIBO 1, RIBO 2, and RIBO 3. These fees are paid directly to the exam providers, which are IBAO and the Insurance Institute.

RIBO Course Fees

Before paying any exam fees, you first need to get some study materials so you can effectively prepare for the exam and be confident that you will pass on the first try. PNC Learning provides courses for all 3 levels of RIBO licensing:

RIBO 1

While courses can range from $300 to over $1000, our RIBO 1 course is $249 and teaches you everything you need to know to pass the exam.

Once you get this license, you’ll be able to advise clients on and sell all types of general insurance, such as home, car, business, and travel insurance.

The RIBO 1 exam consists of 100 multiple-choice questions, and you need 75% to pass. We have a comprehensive blog on RIBO 1 exam information to help you prepare for exam day.  

RIBO Level 2

With the recent changes in 2026, you now need to complete CAIB 1, 2 & 3 to earn your RIBO 2 license. While courses for each CAIB module ranges from over $300 to ~$1000, our RIBO 2 course containing all 3 courses is just $449.

The RIBO 2 license is very popular with brokers looking to advance their careers. Getting a RIBO Level 2 license gives you exposure to commercial insurance and lets you work unsupervised, so you have more freedom and can take on more responsibility in the workplace leading to a higher income.

Because most brokers eventually obtain their Level 2 licenses, I highly recommend completing the exam as early as possible while you are still in a studying mindset and before your work becomes too busy. To encourage students to do that, we’ve created a RIBO 1 & 2 course package offering all 4 courses for a discounted price of $549.

RIBO Level 3 Management

The RIBO 3 license, also called the Principal Broker license, is more rare. It is the one you need to take if you want to manage or own your own brokerage and act as the Principal Broker. Because of this, there is usually only 1 Principal Broker per brokerage, making it a license that not many people get.

Courses can cost up to $1200, but we offer this RIBO 3 course for $249. In the course, we teach you all the management concepts and regulations you need to know to pass the RIBO Level 3 exam on your first try.

Although the Level 3 license is less common, I encourage those with aspirations to own their own insurance brokerage to pass the required exams as early in their career as possible before they get too busy. To encourage the enterprising students, we’ve created a RIBO 1, 2 & 3 course package offering all 3 courses for a discounted price of $599.

RIBO Exam Refunds

Candidates writing with the Insurance Institute can withdraw their exam registration up to one business day before the exam start time for a full refund. Withdrawals made after this deadline will incur a $50 fee. Those writing with the IBAO need to submit a written notice 15 days before the exam date to be eligible for a refund.

Candidates writing with the Insurance Institute can modify their exam booking free of charge up to 24 hours before the exam start time. However, rescheduling requests made less than 24 hours in advance will be subject to a $50 fee. Those writing with IBAO need to submit a written notice 15 days before the exam date, otherwise, a $75 admin fee will be charged.

Cost of RIBO Exam Rewrites

Each rewrite with the Insurance Institute or IBAO costs $325. 

Candidates who fail the RIBO exam through the Insurance Institute may rewrite it within 8 months of their initial attempt. After two failed attempts, they must wait 8 months before retaking the exam with the same provider. A minimum 14-day gap between attempts is required; taking the exam within this period will void the results without any refund of the exam fee. Additionally, attempting the same exam more than twice within an 8-month period with the same provider will invalidate the results and will not count toward licensing. No refunds will be issued in these cases.

If you are writing your exam with IBAO,  you may rewrite it once by following the standard registration process. After two failed attempts, you must also wait 8 months before trying again.

Study smarter, avoid costly rewrites
Our RIBO 1 exam prep course is built to help you pass the first time with practice questions, clear lessons, and expert support.

Study smarter, avoid costly rewrites

Our RIBO 1 exam prep course is built to help you pass the first time with practice questions, clear lessons, and expert support.

RIBO Annual Licensing Fee

Once you become licensed, you need to pay RIBO an annual fee to maintain your license. As of the writing of this article, the annual licensing fee for individuals is $265 for the full year.

Cost of RIBO CE Requirements

Once you have your license, you need to renew it annually. This involves completing the renewal application form for RIBO, paying the annual licensing fee, and making sure you fulfill your Continuing Education (CE) requirements.

RIBO insurance brokers in Ontario are required to earn 8 hours of continuing education (CE) credits each licensing period in the Ethics and Technical categories. Principal brokers also need to take CE courses in the Management category.

All levels of RIBO licensees can get the required CE credits they need for $149 through PNC Learning’s Continuing Education course subscription.

Total Costs to Become RIBO Licensed

When it’s all said and done, between course costs, exam fees, and your first licensing fee, you’re looking at a total investment of $789 to get your RIBO 1 insurance license. If that number seems daunting to you, don’t worry! We offer many financial assistance options, and oftentimes, employers will reimburse you for your fees and education costs when you get hired.

Financial Assistance

If you are struggling with these costs, we do our best to help with different financial aid options, such as our interest-free financing plans (By Now, Pay Later) or our scholarship program.

Conclusion

In summary, to get your insurance license, you’ll need to first pay for an exam prep course that will give you the materials and support you need to pass the exam. Once you’ve committed some time to studying, you can register for the exam and pay the exam registration fee. After you’ve successfully passed the exam, the next step is to look for a job. Once hired, you’ll then pay the annual licensing fee.

The total investment is roughly $769, but many employers will reimburse you for certain fees (especially the licensing fee), and we have different financial assistance options available to ensure this fantastic career is accessible to everyone.

If you’re looking for the right exam prep course, I encourage you to check out the RIBO courses from PNC Learning. We focus on teaching complex concepts in a simple way, offer tools that make learning flexible and appealing to different learning styles, and with our dedicated instructor support and pass guarantee, we’re with you every step of the way..

Everything you need to get licensed start to finish.

Get the complete licensing guide with study tools, registration steps, and post-exam licensing info.