Last Updated on June 8, 2026 by Jacques Wong, B.Sc.
One question new and existing students ask me all the time is “how to pass the RIBO exam”? In this short guide, I’ll go over some exam tips, questions, and what exactly you need to do to pass the exam.
RIBO Study Tips
Abraham Lincoln once said, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” When it comes to passing your RIBO exam, preparation is your sharpest tool. One of the best ways to increase your RIBO exam pass rate is to study strategically.
Here are three RIBO study tips from successful students on how to best use our RIBO exam prep courses while studying:
1. Write Your Own Notes
While we will provide you with a comprehensive note package, you need to do more than read the notes and watch the videos. To make sure you understand the concepts on a deep level and retain them, you should be taking what you have learned from our book and videos and creating your own notes (preferably by hand).
Research shows the benefits to memory and understanding you get when you write out notes by hand.
2. Ask Your Instructor
You should definitely try to figure things out on your own, but if you’re really stuck or just need someone to talk to about a particular concept, don’t hesitate to ask your course instructor. We are available anytime through live chat, email, or phone to help you.
One of the best ways to learn is to interact with peers and teach others. That’s why we launched our Learning Community for RIBO 1. In it, you can interact with your peers, ask questions, answer questions, and form study groups to further advance your learning.
3. Understanding > Memorizing
Memorizing information for tests is unavoidable and important, but on the RIBO 1 exam, you will get a policy wordings booklet covering home and auto insurance. Understanding the concepts and thinking about how they apply to scenarios you have seen before in real life also helps you remember it information better.
Writing the RIBO Exam
One of the trickiest aspects of the exam is the way the multiple-choice questions are worded. Here are some multiple-choice strategies to help you in this area:
1. Read Carefully
Make sure to read the question carefully, as they often use a lot of double negatives to confuse you. Another trick they often use is to frontload the question with a lot of unnecessary information, with the last part containing the real question.
Make sure you read the options carefully as well. One common trick is to have two very similar options, making you choose the “best” answer.
2. Narrow Down Your Choices
If you see that an option is obviously wrong, make sure you strike it out in a visible way. This helps you narrow down your options and focus your mind. Then, if you have to guess the answer, you will have a better chance of guessing correctly as you’ve already narrowed down your options.
3. Answer The Question Before Reading The Options
As mentioned above, a lot of the options given are designed to confuse you. To reduce the possibility that you get tricked, try to answer the question before you even look at the multiple choice options. Then, choose the choice that’s the best match to your answer.
4. Watch The Clock
You have a lot of time to write the exam (3 hours), but there are also a lot of questions (115 total questions). Try not to spend more than 2 minutes on each question or you might run out of time. If you don’t know the answer right away, skip it and come back to it later. The questions and options that follow may provide some clues.
RIBO 1 Exam Questions
The RIBO 1 exam contains 100 multiple choice questions worth 1 mark each and 15 unmarked pilot questions for a total of 100 marks.
You have 3 hours to write and to pass the exam, and you need to score at least 75% overall. If you score over 60% on the Travel Health section, you are also eligible to sell Travel Insurance. Here is a rough breakdown on the topics your exam will focus on:
- General Insurance Knowledge: ~25%
- Habitational Insurance: ~25%
- Automobile Insurance: ~25%
- Commercial Lines: ~20%
- Travel: ~5%
This exam is partially open book as you’ll be given a pamphlet containing policy wordings and coverages for: OAP 1, RIBO By-Laws, RIB Act, Ontario Regulations. You can see what open-book resources you have and get familiar with them using the Consolidated Resources lesson inside the RIBO 1 course.
Sample Multiple Choice Exam Question
Here is a sample of one of the simpler MCQ questions found on the RIBO website:
Before an insured can recover a loss under a fire insurance policy, it is necessary that:
a. the premium be paid.
b. the policy be countersigned.
c. an insurable interest exists.
d. the insured prove that fraud had not been committed.
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RIBO 2 Exam Questions
The RIBO 2 (Unrestricted Technical) exam has a different format than the entry-level RIBO 1 exam, with only 20 multiple-choice questions covering General Insurance Concepts and the remaining 80% of marks coming from short-answer questions.
The exam is divided into three sections and you need to score at least 60% on each section to pass, along with an overall score of 75%. The bulk of the exam (60 marks) consists of a Case Study section covering commercial lines topics, while the final section is Forms Recognition worth 20 marks.
This exam is partially open book, providing you with reference materials including policy wordings and RIBO regulations that you can access during the test—similar resources are available in the RIBO 2 course to help you familiarize yourself with what will be available on exam day.
Sample RIBO 2 Case Study/Short Answer Question
Here is a sample case study question from our RIBO 2 course:
Your client Billy Ship runs an e-commerce business selling holiday decorations out of an older office and warehouse space in Mississauga, Ontario which he owns. Briefly describe 3 property coverages you would recommend for Billy Ship. (6 marks)
Step 1 – Analyze The Question
Notice that they are asking specifically about property coverages so you can forget CGL or product liability here. You will also notice that they are asking about 3 coverage but the question is worth 6 marks which means there is 1 mark for the coverage and 1 mark for the description.
Step 2 – Answer The Question
Where possible, it is best to answer in full sentences and including the keyword from the question:
The first coverage I recommend is Blanket coverage for his commercial property: building, stock & equipment (← the recommendation). By combining all 3 into 1 total limit, it allows for more flexibility within each class of property compared to setting strict individual limits for building, stock and equipment (← the description).
The second coverage I might recommend is the Peak Season Endorsement. Since Billy sells seasonal products, he would have more stock during certain times of the year than others. The Peak Season Endorsement would allow him to save money and money without sacrificing coverage by automatically increasing his stock limits during peak season.
The third coverage I would recommend is the By-law Endorsement. Since Billy’s building is quite old, there likely has been new bylaws put in place since it was first constructed. If it were to be damaged to the point where it requires reconstruction, new bylaws would come into effect and push up the cost of construction. A Bylaw Endorsement would help cover that increased cost.
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RIBO 3 Exam Questions
Under the current structure, candidates pursuing Level 3 should hold a RIBO 2 license and then pass the Level 3 – Management exam or the Accelerated Management Exam (AME).
Both exams test you on regulatory compliance and your ability to manage a brokerage. For the most current details, please see our blog post: Important Update: RIBO Changes Licensing Requirements for Level 2 & 3 (Effective January 1, 2026).
Sample RIBO 3 Case Study/Short Answer Question
Here is a sample short answer question from our RIBO 3 course:
Financial condition is an important consideration when valuing a brokerage. Identify and explain 2 tests of financial condition. (4 marks):
Step 1 – Analyze The Question
First, you want to read the question to pick out the key action words. In this case, the key action words are “identify” and “explain” which tells you how they want you to answer the question. To identify (name) the test of financial condition and provide a brief explanation of what it does.
Also, you’ll notice the question is worth 4 marks but they are asking to identify 2 tests, that means there is 1 mark for identifying and 1 mark for explaining.
Step 2 – Answer The Question
Now that you know how to answer it and what they’re looking for, we can begin. If you studied, you’ll know that there are 3 tests of financial condition. Since the question is only asking for 2, you can pick the 2 that you’re most comfortable with. For example:
- Acid test: compare assets and liabilities to measure liquidity
- Equity-to-debt test: a test to determine what we owe vs. what we own (formula = shareholder equity ÷ total assets)
- Working capital defense interval: measures how long you can cover expenses with working capital (formula = working capital ÷ average daily expenses)
In the above, there would be 1 mark for correctly naming the test and another mark for correctly explaining it. Partial marks can be awarded.
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RIBO Exam Study Materials
Another key factor that affects your RIBO exam pass rate is study materials. The right materials and support can help you get licensed quicker and easier.
Unlike some licensing exams, RIBO doesn’t provide official study guides, which makes choosing the right prep course even more important for your success.
Master RIBO 1, 2 & 3 with PNC Learning
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Conclusion
Passing your RIBO exam—whether Level 1, 2, or 3—comes down to proper preparation, strategic study habits, and understanding the exam format.
By writing your own notes, asking questions when stuck, and focusing on understanding concepts rather than just memorizing facts, you’ll build the foundation needed to succeed. On exam day, read questions carefully, eliminate obviously wrong answers, and manage your time wisely to tackle all sections confidently.
Passing your RIBO licensing requirements starts with understanding the current path for your license level. Level 1 still requires passing the RIBO entry-level exam, while Level 2 and Level 3 now follow updated CAIB-based education pathways. For the most current details, please see our blog post: Important Update: RIBO Changes Licensing Requirements for Level 2 & 3 (Effective January 1, 2026).
All three exams are partially open book, giving you access to key reference materials during the test.
With the right study materials, dedicated preparation, and support from experienced instructors, you can pass your RIBO exam and advance your insurance career in Ontario.
Check out our RIBO 1 course and sign up for a free trial to get started. We look forward to helping you achieve your licensing goals!