BrokerExamRIBO’s three most recent annual reports, as of September 3, 2026, each put the Level 1 pass rate at 51%: the 2022/2023 report, the 2023/2024 report and the 2024/2025 report. The newest of them prints the counts behind its figure on page 23: 6,185 exams written and 3,201 passed. None of those three percentages is the Level 1 exam on its own: the 2024/2025 report names the two equivalency exams in its figure, and the two before it say only that theirs include equivalency exams, without saying how many. The last report to publish a rate for the entry-level exam alone was the 2022/2023 one, where that number was 46%.
RIBO’s reporting year runs August 1 to July 31, and the annual reports are where RIBO publishes these figures. They also restate each other: every one of the three carries prior years alongside its own, and comparing what a restated year says in two reports is how you see what the percentage stopped covering.
2022/2023: two rates, five points apart
The 2022/2023 Annual Report covers the year August 1, 2022 to July 31, 2023. Its statistical summary for that year, on page 12, prints two pass rates for new brokers on consecutive lines:
| Line, as RIBO labels it | 22/23 | 21/22 | 20/21 |
|---|---|---|---|
| Total Exams Written (including equivalency exams) | 5,319 | 5,007 | 2,799 |
| Pass Rate (including equivalency exams) | 51% | 58% | 55% |
| Pass Rate (Level 1 entry-level exam) | 46% | 52% | 59% |
Two things come off that table. The first is that 46% is the newest figure RIBO has put in print for the Level 1 exam standing alone, and it is five points below the blended rate for the same year.
The second is that the gap does not run one way. In 22/23 the entry-level-only rate sits five points below the blended one; in 21/22 it sits six points below; in 20/21 it sits four points above. The equivalency exams pull the combined figure up in some years and down in others, so a blended rate cannot be adjusted by a fixed amount to recover a Level 1 one.
2023/2024: one rate, and the split stops
The 2023/2024 Annual Report gives the exam statistics on page 12. The heading over them carries the qualification in its own title, ending in the parenthesis “(INCLUDING EQUIVALENCY EXAMS)”. The table beneath it has three columns, Years, Writer Count and Pass Rate:
| Years | Writer Count | Pass Rate |
|---|---|---|
| 2023-2024 | 5,685 | 51% |
| 2022-2023 | 5,319 | 51% |
| 2021-2022 | 5,007 | 58% |
| 2020-2021 | 2,799 | 55% |
| 2019-2020 | 2,712 | 63% |
The five-year history is the blended series throughout. Where the previous report printed 46% beside 51% for 2022-2023, this one prints 51% alone, and no Level 1 entry-level-only rate appears anywhere in the report. The report’s own comment on the figure is short:
Level 1 pass rates for 2023/2024 continue to reflect historical student pass rate trends from pre-pilot exam questions. Of note, the number of exam writers continues to increase.
2024/2025: 51% again, and the counts behind it
The 2024/2025 Annual Report was the newest on RIBO’s annual reports page when this was written, on September 3, 2026. Page 22 carries a chart of writer counts and pass rates and this sentence:
Pass rates for the Level 1 exam have remained stable for the past three years at 51%. Of note, the number of exam writers has increased by 128% over the past six years.
Page 23 has the Exam Pass Rate Summary, the only table in any of the three reports that publishes pass counts as well as rates. Its Level 1 row reads 6,185 total, 3,201 passed, 51%.
Divide 3,201 by 6,185 and you get 51.75%, which rounds to 52. RIBO prints 51%, so 51% is the published figure and nothing here recomputes it.
Inside the 51%
The 2024/2025 report prints the caveat twice, once in the sentence introducing the table and once as a footnote under it. The longer of the two names the exams:
The pass rate for the Entry Level 1 Exam includes the Level 1 Exam as well as the RIB Act, Regulations, and By-laws Equivalency Exam and the RIBO Ontario Automobile Equivalency Exams.
RIBO opens that route only to people who already hold a licence or can show industry experience on review. Its equivalency page names two kinds of licence holder: a current out-of-province property and casualty licence, or an Other-Than-Life agent licence from FSRA. A third group holds no current agent licence, “such as those employed as Underwriters or Adjusters”, and submits a resume and any designations for review.
RIBO’s Exam Rules split those groups at the licence. Rule 1.1 has the licensed ones self-check their own eligibility. Everyone else, the underwriters and adjusters included, needs RIBO’s approval to waive the Level 1 requirement first. The documents that one of the two exams covers are named in its title: the RIB Act, the regulations under it and RIBO’s by-laws. In the 2024/2025 report all three exams sit under a single published percentage, and the report breaks out none of them.
What the series does not tell you
RIBO counts exams, not people. Its label for the count is “Total Exams Written” in the 2022/2023 report, “Writer Count” in the 2023/2024 one and “TOTAL” in the 2024/2025 one. Nothing in any of the three says an exam written is a distinct candidate. RIBO publishes no first-attempt rate, no rate per exam provider, no rate per section and no rate per candidate.
Nor is there a published rate for the current exam on its own terms. RIBO launched the updated Level 1 exam on January 1, 2025, part way through the 2024/2025 reporting year, so the 51% for that year spans both the old paper and the new one.
The three reports still support a floor for planning. The FAQ’s pass-rate answer plots seven published years against the writer counts if you want the longer line. Across the three years covered here, the count rose from 5,319 to 6,185 and the blended rate did not move: roughly half the sittings RIBO counted still did not pass.