RIBO Cheat Sheet 2026

The 30 highest-yield RIBO facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. You always abide by the HIPAA privacy rule. → FALSE
2. Which regulatory body oversees the insurance industry in many countries, including the United States? → National Association of Insurance Commissioners (NAIC)
3. Risk is best defined as: → Chance of loss
4. Which of the following best describes high pressure tactics as mentioned in the text? → Creating a sense of urgency to push clients to make hasty insurance decisions
5. According to the Insurance Act, a Fire policy expires at? → 12:01 am standard time at the address of the insured.
6. Which of the following is not a generally accepted practice for dealing with risk? → Ignoring the risk
7. Which one of these statements about the Fair Credit Reporting Act is not correct? → Prenotification is required for both regular and investigative reports.
8. In insurance laws, what does “solvency” refer to? → The financial stability of an insurance company to meet its obligations
9. What covers employee infidelity? → 3D policy
10. An agreement between the insured and the insurer that certain conditions will be met is which of the following? → Warranty
11. Salvage is ________: → Property remaining after a loss which still has some value.
12. When a customer puts an objection in front of you, you should _____________. → Thank them
13. Insurance laws may prevent insurers from discriminating against policyholders based on which characteristic? → All of the above
14. What does cold lead advertising entail in the context of insurance sales? → Using subtle marketing techniques to attract customers without disclosure of the purpose
15. You accidentally strike the guardrail as you attempt to avoid hitting a squirrel. → Automobile
16. Which of the following is a type of insurance where an insurer transfers loss exposures from policies written for its insureds? → Reinsurance
17. Homeowner's Insurance covers all EXCEPT? → Party coverage
18. When a mutual insurer becomes a stock company, the process is called → Demutualization
19. Insurance contracts offset: → Pure risk
20. What is the main purpose of a “free-look period” in insurance? → To provide policyholders with a cooling-off period to review their policies
21. A person's phone number is not considered pHI because it can be located in an online or paper telephone directory. → FALSE
22. Which of the following is Not a characteristic of reinsurance? → Increases the unearned premium reserve
23. The Insurance Act states that one of the following situations is not excluded under a fire policy: → Damage caused by a fire that spread from a neighbouring property to the insured property.
24. Which of the following is NOT a best practice for privacy and security? → Documents containing PHI do not need to be shredded
25. In Registered Insurance Broker of Ontario, what role does continuing education play in insurance principles? → To keep professionals current with evolving standards, technologies, and best practices
26. Who would not be considered to have insurable interest? → A person who expects to inherit property after their father's death.
27. What is the primary objective of insurance principles in Registered Insurance Broker of Ontario? → To ensure competence and proficiency in core insurance principles concepts
28. Which of the following principles states that in forming an insurance contract, both parties have a responsibility to the other? → Doctorine of utmost good faith
29. Which of the following statements is TRUE? → Stock companies are owned by shareholders.
30. Confidentiality means that data is not to be made available to unauthorized persons. → TRUE