The RIBO 1 exam is the first step towards becoming an insurance broker in Ontario. Once you pass this exam you will be able to sell Habitational (personal and commercial) Insurance, Auto Insurance, Travel Insurance and Liability Coverages in Ontario. This exam is the entry level exam and RIBO 1 license holders are restricted to working under a licensed Principal Broker (RIBO 2 or higher). More info https://courses.pnclearning.com/courses/ribact-auto
RIBO announced late last month that it will be changing its entry-level exam, which serves as a cornerstone for becoming a licensed broker in the province of Ontario. The changes will include the introduction of 100 graded multiple-choice questions that will offer a more comprehensive evaluation of topics critical for new brokers, such as legislation and insurance product knowledge. These new questions will be piloted in November 2023 and will gradually be refreshed throughout the course of 2024 before being fully integrated into the exam by January 2025, RIBO said.
From Learning to Licensing: The Journey through RIBO’s Essential Broker Course
In a statement, RIBO said: “We are also looking to you, as Principal Brokers, to cultivate a culture of integrity within your brokerages and to ensure your staff are following RIBO exam standards. Any incidences of exam irregularities will be investigated and any resulting action taken.”
The Insurance Institute of Canada administers the licensing exams for RIBO on behalf of the Registered Insurance Brokers of Ontario. Once you have completed your RIBO Courses you can register for your online RIBO exam at IIC’s Exam Portal. All RIBO exams are written online with a virtual proctor through ProctorU. You will receive a link to schedule your online RIBO exam upon registration.