Free IIC RIBO-Level-1 Exam Questions

Become IIC Certified with updated RIBO-Level-1 exam questions and correct answers

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Total 217 Questions | Updated On: Apr 29, 2026

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Question 1

Which factor determines the class of a commercial auto?

A : The driving record of the driver.

B : History of the owner of the vehicle.

C : The type of cargo carried.

D : Location where the vehicle is garaged.

Answer: C

Question 2

After the July 1, 2026 auto reforms, which individuals will NOT have access to optional accident benefits under someone else’s auto policy?

A : Pedestrians who are not covered by an auto insurance policy.

B : Spouses listed under the policy.

C : Dependant children listed under the policy.

D : Drivers listed under the policy.

Answer: A

Question 3

When is a Vacancy Permit required in order to continue fire insurance on a property?

A : When the occupant has left on a six-month vacation and no one has moved in to take care of the property.

B : When the occupants have moved out and do not intend to return.

C : When the insured has moved out with one half of the contents and left his wife with only half of the house furnished.

D : When the occupant has been transferred to another location and resides in the premises only on weekends.

Answer: B

Question 4

Which option correctly completes the following statement? Electronic accessories or equipment in an automobile are covered under O.A.P. 1 Owner’s Policy…

A : for their full actual cash value.

B : for their full actual cash value if factory installed.

C : for their full replacement cost.

D : up to $5,000.

Answer: B

Question 5

As a licensed broker, you learn of significant regulatory changes impacting flood insurance coverage in your area. What steps should you take to ensure you are informed and prepared to advise your clients on these changes?

A : Attend local insurance seminars and workshops focusing on flood insurance updates.

B : Rely solely on information from colleagues who are also dealing with similar client queries.

C : Do nothing until clients specifically ask about flood insurance.

D : Follow updates from your principal insurance provider’s newsletters or webinars on the subject.

Answer: A

Page: 1 / 44

Total 217 Questions | Updated On: Apr 29, 2026

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