• Equivalency

The information below is designed to allow individuals to determine which examinations they are required to write as part of qualifying for a RIBO license.

Click on a topic to jump to that section:

Upon successfully completing your Equivalency exam(s), you can proceed with registration as an insurance broker with a RIBO registered brokerage firm. This is subject to meeting the suitability requirements.

Prepare for your registration by consulting the Registration Checklist before taking the exam(s).

Candidates are responsible for verifying their licensure eligibility before taking any exam. Passing the exam does not guarantee full eligibility, as additional background checks will be conducted during the formal licensing application process. These background checks include, but are not limited to, criminal records and conflicts of interest with other licensing bodies.

Candidates required to take multiple exams, such as the RIB Act, Regulations, and By-laws Equivalency Exam and the RIBO Ontario Automobile Equivalency Exam, must pass all exams within twelve months.

Each exam result is valid for twelve months from the date of passing. If a candidate passes one exam and fails another, they must retake and pass the failed exam within twelve months from the original exam date of the passed exam. The eligibility to apply for their license will be based on the earliest pass date, thereby potentially shortening the overall license eligibility period.

Applying for a Level 1 License

Eligibility for Individuals Who Hold:

  • A current out-of-province license general Property & Casualty (P&C) license (see provincial licensing guide below) or;
  • Those who hold an Other-Than-Life (OTL) insurance agent license with the Financial Services Regulatory Authority of Ontario (FSRA).

Individuals who don’t hold a current agent license, such as those employed as Underwriters or Adjusters, may be eligible for an equivalency. These individuals may submit the following information/documentation for review:

  1. Resume outlining experience to-date
  2. Copy of any P&C designations held (e.g. CAIB or CIP)

The above can be sent to equivalency@ribo.com.

Exam Requirements

Applying for a Level 2 License

Eligibility for existing RIBO licensees:

  • Existing registrants/licensees are eligible to write the Level 2 – Technical/Commercial Exam.
  • Level 3 – Management Exam: Individuals must be actively working with a Level 1 license for a minimum of two years before attempting this examination. If individuals choose to take this exam beforehand, it will not be valid and the individual will need to rewrite it, once eligible.
  • Though not a mandatory exam, some individuals may wish to write the Level 2 – Technical Farm Exam to further their qualifications.

Please refer to the RIBO Exam Rules for more details

Exam Requirements for Existing RIBO Licensees

Individuals with any of the following designations may qualify for an exemption from the Level 2 – Technical/Commercial Exam: CAIB, CIP, FCIP, CCIB and CRM.

Effective August 10, 2022, individuals are no longer required to submit a Principal Broker support letter as part of their Level 2 Technical exam waiver request. Level 1 license holders who have completed one of the following designations: CAIB, CIP, FCIP, CCIB and CRM can now apply to have their license upgraded. If you hold a Level 1 license, and are currently working toward a designation, you can also apply for a Level 2 license after completing the following courses: CAIB 1, 2, and 3 (must have completed and passed all 3 courses); or, CIP Courses: C130 and C131 (must have completed and passed both courses).

You can apply and request your license upgrade, by emailing licensing@ribo.com and quoting “Technical Examination Waiver – Your Name – Your License Number” in the subject line of the email. Include course transcripts or a copy of your diploma as proof that you meet the eligibility requirements.

Non-Ontario resident individuals who hold a level 3 license in their home jurisdiction are also encouraged to apply to have their RIBO license upgraded.

Eligibility for Out of Province licensees seeking a Level 3 License to be a Principal Broker for a firm

  • The two-year waiting period will be waived for individuals who are actively licensed and have been employed in another jurisdiction for more than two years.
  • See guide below for more information, including requirements for holding a “Principal Broker or Level 3 License.”

Exam Requirements for Out of Province licensees

Out of Province Licensees

Below is a guide for out of province applicants who hold a license in their home jurisdiction.

Level 1 – Entry Level Broker

ProvinceLicense
AlbertaGeneral Level 1 or Level 2 Agent
British ColumbiaLevel 1 General Insurance Salesperson  
ManitobaLevel 1  General Insurance Salesperson  
New BrunswickClass 1 Broker, Class 2 Broker, or Special
Newfoundland & Labrador  Level 1 or Level 2  Broker
Northwest Territories  General  Insurance Agent
Nova Scotia  Level 1  General Insurance Agent
Ontario (FSRA)  OTL (Other Than Life) * 
Prince Edward Island  General  
Quebec  Personal Lines  Damage Insurance
Saskatchewan  Level 1  Agent
Yukon  Salesperson or Broker  

Level 2 – Technical/Commercial

  • If you hold one of the following licenses in your home jurisdiction you may be eligible to waive the technical exam requirement for qualifying for a Level 2 license in Ontario.
  • Out of province licensees seeking a Principal Broker designation must successfully complete the Level 3 – Management Exam. 
ProvinceLicense
AlbertaLevel 2 Agent
British ColumbiaLevel 2 or Level 3 Agent
ManitobaLevel 2 or Level 3  Agent
New BrunswickClass 3 Broker or Class 4 Broker  
Newfoundland & Labrador  Level 3  Broker
Nova Scotia  Level 2 or Level 3  General Insurance Agent
Quebec  Full Sector Damage or Commercial Lines  Damage
Saskatchewan  Level 2 or Level 3  Agent

*OTL agents are exempted from the RIBO Auto Equivalency exam