Level 1 – Entry-Level Broker Exam
Attention exam takers, we are making changes to the exam. Learn about the upcoming changes to the exam, including additional questions, in our bulletin.
Exam Length: 3 Hours
Exam Format:
- Beginning in January 2024, the exam will consist of 100 multiple choice graded questions.
- General (47 Questions)
- Habitational (24 Questions)
- Travel Health (5 Questions)
- Automobile (24 Questions)
- See RIBO’s Exam Standards and Level 1 exam blueprint for more information
- There will be 15 piloted questions, which would not count towards your overall grade.
Passing Grade: 75% (75 out of 100)
Eligibility to Write the Exam:
- Individuals wishing to write the RIBO exam to obtain licensing should review RIBO licensing qualification criteria.
- Please refer to the RIBO Exam Rules for more details.
Writing the Level 1 Exam is the first step in becoming a licensed insurance broker in Ontario. The exam will test a range of subjects, including but not limited to, legislation such as the RIB Act, Regulations, RIBO By-laws, as well as, insurance product knowledge include automobile, habitational, travel health, and general policies.
Candidates who pass the current Level 1 Examination may sell Travel Health Insurance. Additionally, Accident & Sickness insurance is most commonly included as part of a Life Insurance Agent’s License from the Financial Services Regulatory Authority of Ontario (FSRA). FSRA has a specific Accident & Sickness examination. The Accident & Sickness restriction can be removed from a RIBO registration by submitting a copy of a current life license including Accident & Sickness or evidence of passing the Accident & Sickness examination.
Upon completion of the RIBO exam, results will be provided to you by the exam provider two weeks after your exam date. Please contact your exam provider directly for your results, not RIBO.
Additional qualification requirements for obtaining a RIBO license are detailed here.
How to Apply to Write the Examination
You can register for a RIBO exam with the following exam providers:
Candidates are eligible to rewrite within the 8-month period following their first examination per exam provider. Candidates after two failed attempts are subject to an 8-month waiting period following their second failed attempt with the same service provider.
Sample Examination Questions
1. 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.
2. Negligence is:
a) the failure to exercise the care that a reasonable person would take in a similar set of circumstances.
b) behaving in a manner expected of a reasonable and prudent person.
c) payment of insurance monies to a person injured by the insured persons.
d) exercising rights under an insurance policy to recover money paid to a third person.
Correct Answers: 1 (c); 2 (a)
Self Study
If you consider self-study use the following resources OAP 1, RIBO By-Laws No. 1, No. 2, No. 3, RIB Act, Ontario Regulation 989, 990, 991. RIBO doesn’t offer any courses but organizations like the Insurance Brokers Association of Ontario (IBAO) or the Insurance Institute of Ontario (IIO) have some that you can take. Please visit their websites for more information.