Ribo License Practice Exam Quiz: Questions

A person who makes good the obligations to the Obligee if the principal fails to do so.

An executor of an estate.

A trustee in bankruptcy.

A person to whom the administration of something is entrusted for the benefit of another.

Bank

Dry Cleaner

Insurance Company

Insurance Broker

Lyoyd's of London is not an insurance market.

Factory Mutual's will only insure factories.

Stock companies are owned by shareholders.

Assessment or Premium Note Mutual's are the purest form of crown corporations.

Burglary Insurance.

Liability Insurance.

Fire Insurance.

Marine Insurance.

Property saved from a loss.

The sharing of loss between two or more insurance companies covering the same risk.

Not considered to be a principle that reinforces indemnity.

The legal process by which an insurer who has paid a loss pursues rights of recovery against a responsible third party.

Short rate.

Pro-rata.

Guaranteed refund.

Change.

Stock Mutual's are the purest form of insurance companies.

Lloyds of London's is not an Insurance company.

Proximate cause is the last even before an occurrence which leads to a loss.

Factory Mutual's specializes in the field of water loss prevention.

Notifies an insurer of a claim.

Is a form an insurer completes when there has been a loss

Is a form an insured completes to describe what happened and the property that was lost

Is a form that needs to be signed by a notary for a claim to be paid

3D policy

Employee security insurance.

Inside/Outside robbery insurance.

Extra expense insurance.

To forward claims information to OHIP

To arrest and stabilize the situation that caused the emergency.

To attempt to deny claims.

To direct clients to the closest medical facility.