VIP Exclusive
RIBO Registered Insurance Broker of Ontario VIP Practice Exam
RIBO — The RIBO Level 1 licensing exam is administered by the Registered Insurance Brokers of Ontario (RIBO) under the Registered Insurance Brokers Act; the full exam contains approximately 150 multiple-choice questions over 3 hours with a 75% pass mark, covering Ontario P&C insurance law, auto, property, liability, and broker ethics.
29
Questions
75m
Time Limit
75.00%
To Pass
Question 1 of 29👑 VIP
A homeowner's basement is flooded when a pipe bursts in a neighbouring condo unit. The homeowner's insurer pays $28,000 for the damage and then pursues the condo corporation, which was negligent in maintaining the pipe. Which insurance principle gives the homeowner's insurer the legal right to stand in the insured's shoes and seek recovery from the responsible party?
Questions 2–29 and full explanations are VIP-exclusive.