RIBO Level 1 flashcards

One year, because By-Law No. 3 sets the term of a Certificate of Registration as October 1 to September 30.

By-Law No. 3, s. 2.4(a)

Procedures and a written Plan of Supervision must be established and followed, so an office practice that everyone understands but nobody has written down does not meet the requirement.

By-Law No. 3, s. 6.1(d)(viii)

The lowest rate available across that insurer and its affiliates, because not offering it is an unfair or deceptive act or practice, and the duty applies to a renewal as much as to a new quote.

FSRA Rule 2020-001, s. 10(1)

Yes, because the owner is liable for loss caused by negligence in the operation of the vehicle on a highway, unless the vehicle was in someone else's possession without the owner's consent.

Highway Traffic Act, s. 192(2)

$200,000 where the person is not an individual and $100,000 where the person is an individual, since the Act sets the cap on a general administrative penalty by the kind of person being penalized.

Insurance Act, s. 441.5(1)

All of it, because wrongdoers who together cause a loss are jointly and severally liable to the person suffering it, and the split by degree of fault only settles contribution between themselves.

Negligence Act, s. 1

At least the quality of service members generally would expect of a member in a like situation, because the code measures the work against what a peer would do rather than against the broker's own usual practice.

O. Reg. 991, s. 14, para. 3

Three banking days after the day the trust money is received, because the member must not knowingly fail to make the deposit or the permitted investment within that time.

O. Reg. 991, s. 16(4), para. 2

At least $3,000,000 in respect of any one occurrence, because O. Reg. 991 requires that cover, or another financial guarantee approved by the Manager, from every member that is a sole proprietor, partnership or corporation.

O. Reg. 991, s. 20(1)

$25,000, since O. Reg. 991 sets the general maximum fine for misconduct at $100,000 but caps it at $25,000 where the member is an individual.

O. Reg. 991, s. 22

Within twenty-one days of the placing, since O. Reg. 991 requires the member to certify that the insurance has been placed and to copy each insurer named on the document.

O. Reg. 991, s. 9(1)

Anyone in physical possession of the premises, or with responsibility for and control over the condition of the premises or the activities carried on there, or control over who may enter. The definition applies even though there is more than one occupier of the same premises.

Occupiers' Liability Act, s. 1

60 days from the injury, because no action may be brought unless written notice giving the date, time and location was personally served or sent by registered mail within that period.

Occupiers' Liability Act, s. 6.1(1)

A Qualification and Registration Committee, one or more Complaints Committees, and a Discipline Committee, because the Act itself names those three and gives registration, complaints and discipline each their own body.

RIB Act, s. 12(1)

Multiply the damages less the deductible by the amount of insurance carried, then divide by the minimum amount the clause requires, so a shortfall in the amount carried cuts the payment in proportion.

Chambre de l'assurance de dommages, Fact Sheet: The Co-insurance clause, partial loss Reference document, not law.

Cost of replacement less depreciation, where depreciation is judged on the condition immediately before the damage, the resale value and the normal life expectancy, so age alone does not set the figure.

Habitational specimen wording H177, Basis of Claim Payment, Actual Cash Value Reference document, not law.

The cost at the time of loss of repair or replacement, whichever is less, with new property of similar kind and quality and no deduction for depreciation, which means the amount of insurance shown for the coverage is still the ceiling.

Habitational specimen wording H177, Basis of Claim Payment, Replacement Cost Reference document, not law.

Waves, tide, tidal wave, tsunami, dam break, seiche and the rising, breaking out or overflow of any body of water or watercourse, so a man-made reservoir failing is a flood too.

Habitational specimen wording H177, Definitions, Flood Reference document, not law.

Accidental discharge or overflow from a plumbing, heating, fire sprinkler or air conditioning system, a household appliance, an aquarium, a waterbed, a pool or hot tub, or a watermain, which means a sewer backing up is a different mechanic.

Habitational specimen wording H177, Definitions, Water Escape Reference document, not law.

The sudden and accidental backing up or escape of water or sewage within the dwelling or a detached private structure from a sewer, drain, sump, septic system, weeping tile or a connected eavestrough or downspout, so the failure must be inside the building.

Habitational specimen wording H177, END. #10, Sewer Back-up Coverage Reference document, not law.

No, because Part IV applies to loss or damage from the peril of fire and expressly excepts insurance against theft, wrongful conversion, burglary, house-breaking, robbery or forgery.

Insurance Act, s. 143 (1) (a.7)

Yes, since the deemed coverage takes in explosion of natural, coal or manufactured gas in a building that is not part of a gas works, whether fire ensues or not.

Insurance Act, s. 144 (1) (c)

One year from the day the loss or damage occurs. Statutory condition 14 absolutely bars any later action or proceeding to recover a claim under the contract.

Insurance Act, s. 148, Statutory Condition 14 (Action)

Within sixty days after completion of the proof of loss, unless the contract provides for a shorter period.

Insurance Act, s. 148, Statutory Condition 12 (When Loss Payable)

Fifteen days notice by registered mail, or five days written notice delivered personally, by prepaid courier where the deliverer keeps a record, or by electronic means where the insured consents.

Insurance Act, s. 148, Statutory Condition 5 (1) (Termination)

On the day following receipt of the registered letter at the post office it is addressed to, so the clock turns on delivery to that office rather than on the day the insurer posts it.

Insurance Act, s. 148, Statutory Condition 5 (5) (Termination)

Within forty-five days after the insurer receives the proofs of loss, and it must then proceed with all due diligence to completion.

Insurance Act, s. 148, Statutory Condition 13 (2) (Replacement)

The agent of the insured named in the contract, or a person to whom part of the insurance money is payable, since condition 8 lets them act where the insured is absent, unable or refuses.

Insurance Act, s. 148, Statutory Condition 8 (Who may give notice and proof)

The words “The policy contains a clause that may limit the amount payable”, printed or stamped on the face in red ink or bold type. The limiting clause is not binding on the insured unless those words, or the French equivalent, appear.

Insurance Act, s. 149

Each insurer is liable to the insured for its rateable proportion of the loss, unless the insurers have expressly agreed otherwise in writing.

Insurance Act, s. 150 (1)

A Plan of Operation, because section 7 (3) requires the Association to set out in its articles a plan for providing a contract of automobile insurance to owners, lessees and licensed drivers who would otherwise be unable to obtain it.

Compulsory Automobile Insurance Act, s. 7 (3)

$200,000, exclusive of interest and costs, because section 251 of the Insurance Act requires that limit against liability for bodily injury, death and property damage together.

Insurance Act, s. 251 (1)

Bodily injury or death claims have priority to the extent of $190,000 and property damage claims have priority to the extent of $10,000, because section 251 (2) splits the single inclusive limit into those two priority bands.

Insurance Act, s. 251 (2)

Only their own insurer, since section 263 (5) removes any right of action against other people involved in the incident for damages to the automobile, its contents or loss of use.

Insurance Act, s. 263 (5)

No, because section 263 (9) states the section does not apply if both automobiles are owned by the same person, which puts a same-owner collision outside the direct compensation scheme.

Insurance Act, s. 263 (9)

A is 25 per cent at fault and B is 75 per cent at fault, because section 10 (5) of the Fault Determination Rules puts the larger share on the overtaking driver at an intersection.

R.R.O. 1990, Reg. 668, s. 10 (5)

The ordinary rules of law decide it, because section 5 (1) covers exactly the case where an incident is not described in any of the rules.

R.R.O. 1990, Reg. 668, s. 5 (1)

The following driver is 100 per cent at fault and the struck driver is not at fault, since section 6 (2) applies whether the struck automobile was stopped or in forward motion.

R.R.O. 1990, Reg. 668, s. 6

The accident must take place in Ontario and at least one other automobile involved must be insured under a motor vehicle liability policy, because Section 6.1 applies DCPD only in those circumstances.

OAP 1, Section 6.1

Multiply the deductible shown on the Certificate of Automobile Insurance by the percentage to which the insured or the driver was not at fault, since Section 6.4.2 sets the deductible as that proportion of the stated amount.

OAP 1, Section 6.4.2

Section 12 (1) requires a complete inability to carry on a normal life, arising as a result of and within 104 weeks after the accident, plus either that the person does not qualify for an income replacement benefit or that they were a student or a recent graduate. The benefit is optional for policies entered into or renewed on or after July 1, 2026.

SABS, s. 12 (1)

$65,000 for any one accident, or $1,000,000 if the person sustained a catastrophic impairment, because section 18 (3) of the SABS, as consolidated from July 1, 2026, sets those two ceilings.

SABS, s. 18 (3)

Two years, and the clock runs from the insurer's refusal to pay the amount claimed rather than from the accident, because section 56 of the Statutory Accident Benefits Schedule (SABS), as consolidated from July 1, 2026, fixes the limitation on the refusal.

SABS, s. 56

Not fewer than five, and at least five must be commercial vehicles, public vehicles or vehicles used for business purposes, so a group of four never qualifies. That is only the first requirement: the definition adds a second on common ownership or management, or on availability for hire through a common online-enabled system.

R.R.O. 1990, Reg. 664, s. 1

At least 153 days, since continued recognition as a resident requires physical presence in Ontario for at least 153 days in any given 12-month period, subject to sections 1.6 to 1.14, which deem certain absences to meet that requirement.

R.R.O. 1990, Reg. 552, s. 1.5 (1)

It must be acute and unexpected, must have arisen outside Canada, and must require immediate treatment, so a condition that did not arise outside Canada fails the test and is not an insured service.

R.R.O. 1990, Reg. 552, s. 28.2 (1) (d)

Travel accident and sickness, baggage and trip cancellation insurance, because the exception reaches only a person registered under the Travel Industry Act, 2002 acting in respect of those kinds.

RIB Act, s. 2(2)(e)