How To Become a Broker
LEVEL I BROKER: “ACTING UNDER SUPERVISION”
All individuals must meet the “qualifications” outlined in Section 5 of Ontario Regulation 991 of the RIB Act. This includes, but is not limited to:
- First passing the Entry Level examination or its Equivalency;
- Satisfying the “only business or employment” requirement;
- Registering for a RIBO license
- Employment with a RIBO registered general insurance brokerage firm. Employment (sponsorship) is not required to write the examination but is a requirement for registration.
Individuals who pass the examination, but do not register with a RIBO registered firm to receive their license MAY NOT hold themselves out or act in the capacity of a broker. Doing so will result in the file being reviewed by the Qualification and Registration Committee and may jeopardize eligibility for licensing.
Registration must be completed within twelve (12) months from the date of successful completion of the examination. If registration does not occur within twelve (12) months, the applicant will be required to write the examination again. We regret there are no extensions.
Once registered, all licensed insurance brokers must comply with RIBO .
Regardless of the initial date of registration, the license term is October 1st to September 30th.
LEVEL 2 BROKER: “UNRESTRICTED LICENSE”
All RIBO licensees must, subject to the bylaws, meet the following requirements to have the restriction removed:
- Acted as a Broker and been registered with RIBO for a period of two (2) years.
- Passed both the Unrestricted Technical and Unrestricted Management exams. Passed the Unrestricted Management exam within three years of successfully passing the Unrestricted Technical exam.
Out of province licensees who hold similar qualifications as a RIBO Level 2 Broker please see the Equivalency Page .