In Alberta, you need to pass the Alberta Level 1 exam. For the rest of Canada, it’s the Fundamentals of Insurance or CAIB 1 exam. In Ontario, the RIBO 1 exam. is the first exam you have to pass in order to get your Level 1 General Insurance License. This license enables you to practice insurance in Ontario and get your first insurance job. After that, the sky is the limit. This study guide is designed to help you start on the right foot. These practice questions are designed to help you get ready for this important exam.
The RIBO 1 exam format is pretty straightforward – there are 90 Multiple Choice Questions with 1 Case Study question worth 10 marks to test whether you can apply the concepts you learned in the course to a real world situation. The Case Study question is designed to simulate real questions that a real client might ask you.
To prepare for this exam, it comes down to diligent study habits and practice, practice, practice until you know the information like the back of your hand and can apply it to answer real world questions. Another important aspect is to know the tricks that they will use to confuse you.
- They will include details that seem important but aren’t and vice-versa. For example, they might talk about a Homeowners Comprehensive form when discussing a loss caused by fire. All Homeowners policies cover fire so this might not be an important detail.
- They will use double negatives like “not excluded”. To deal with this, try to translate them into positives like “covered”.
- In the multiple choice options, 2 of them will seem correct but only 1 is the “best” or “most correct” answer.
Who needs this RIBO 1 Practice Questions?
We provide ~1000 RIBO 1 Practice Questions geared towards getting you ready for the real exam by getting you used to the types of questions they’re going to ask and the tricks they’re going to use.
Tax included. Discounts given if purchasing CAIB 2 & 3 (for RIBO 2) as well.
RIBO 2 Unrestricted Technical Practice Questions are also available.