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IIC RIBO-Level-1 Exam Syllabus Topics:
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Extremely high passing rate
We believe that the greatest value of RIBO-Level-1 training guide lies in whether it can help candidates pass the examination, other problems are secondary. And at this point, our RIBO-Level-1 study materials do very well. We can proudly tell you that the passing rate of our RIBO-Level-1 exam questions: RIBO Level 1 Entry-Level Broker Exam is close to 100 %. That is to say, almost all the students who choose our products can finally pass the exam. We are not exaggerating because this conclusion comes from previous statistics. We believe you are also very willing to become one of them, then why still hesitate? Just come in and try our RIBO-Level-1 study materials, and we can assure you that you will not regret your choice.
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IIC RIBO Level 1 Entry-Level Broker Sample Questions:
Question #1
From an insurance standpoint, which situation will the premises be considered "vacant"?
A. When the occupants are living elsewhere temporarily while major building repairs are being made.
B. When the occupants are away on vacation.
C. When the occupants moved out and no new occupant has moved in.
D. When they are closed up for the night.
Question #2
Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the insured. What benefit CANNOT be changed?
A. Disability Benefit after Age 65.
B. Caregiver Benefit for Catastrophic Injuries.
C. Income Replacement Benefit.
D. Death and Funeral Benefits.
Question #3
Risk may be dealt with in a number of ways including transferring it to others or retaining it intentionally.
Which of the following alternatives is a transfer of risk?
A. A monitored security system.
B. Purchase of insurance.
C. An agreement of purchase and sale.
D. Self-insurance.
Question #4
In the event of a theft of a three-year-old laptop, the insurer offers a settlement based on "Actual Cash Value" (ACV) because the insured does not have a Replacement Cost endorsement. How is this settlement amount determined?
A. The insurer pays the original price the insured paid three years ago.
B. The insurer pays the current cost to replace the laptop minus a deduction for depreciation.
C. The insurer pays the amount the insured thinks the laptop is worth.
D. The insurer pays the cost of a brand-new laptop of the same quality today.
Question #5
A client is currently insured with a competing brokerage. They approach you to move their business because they are unhappy with their current broker's lack of communication. Before accepting the business and issuing a new policy, what is the most appropriate professional step to take in managing this transition?
A. Immediately sign the client and tell them to cancel their old policy via a phone call to the other broker.
B. Request a signed "Letter of Authority" or "Broker of Record Letter" from the client and advise them on the proper steps to provide a "Lapse of Insurance" notice to the previous broker.
C. Contact the other broker directly to explain that you are taking their client and demand the client's file.
D. Offer the client a "Switching Bonus" to cover any short-rate cancellation fees from the other brokerage.
Solutions:
| Question #1 Correct Answer: C | Question #2 Correct Answer: A | Question #3 Correct Answer: B | Question #4 Correct Answer: B | Question #5 Correct Answer: B |



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