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RIBO Lesson Eight Quiz-40 questions – pre- tbc-TBT

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Question 1 of 40

1. Question

Your client calls to advise he/she needs insurance on a car leased from an automobile dealer. Which one (1) of the following policies is required?

O.A.P. #1 Owner’s Form, suitably endorsed
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O.P.F. #2 Driver’s Form
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O.P.F. #6 Non-owned Automobile Form, suitable endorsed.
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O.A.P. 4 Garage Auto Form, suitably endorsed.
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Question 2 of 40

2. Question

A client phones to tell you he has bought a high-end stereo system costing $5,000, which has just been installed in his car. What should you tell him?

Be sure to always lock the car, as there is no coverage if the system is stolen when the car is unlocked.
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There is no coverage on the system without an approved security system in the car.
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No further action is needed. The new system is automatically covered under the O.A.P. 1 Owner’s Form as part of the car.
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To provide you with a copy of the invoice so you can have his O.A.P. 1 Owner’s Form endorsed to cover its full value.
Correct Incorrect Correct answer

Correct

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Question 3 of 40

3. Question

In the following statement about Section 6 – Direct Compensation – Property Damage – of the O.A.P. 1 Owner’s Form, one (1) is INCORRECT. Indicate which it is:

The policy on the other vehicle must be issued by an Ontario licensed insurer or one that has filed with the Ontario Insurance Commission to provide this coverage.
Correct Incorrect Correct answer

The insured collects from his/her insurer even though the operator of the vehicle, with the insured’s consent, was not entirely at fault for the accident.
Correct Incorrect Correct answer

The accident may occur anywhere in Canada and at least one of the other automobiles involved is insured under a motor vehicle liability policy.
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It covers damage to the automobile, certain unscheduled trailers, their equipment and contents caused by another automobile in Ontario, including their loss of use.
Correct Incorrect Correct answer

Correct

Incorrect
Question 4 of 40

4. Question

Newly acquired automobiles are automatically covered under and O.A.P. 1 Owner’s Form provided the insurer is notified:

As soon as practicable.
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Within 14 days.
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Within 7 days.
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Within 21 days.
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Question 5 of 40

5. Question

One of the following statements is correct. Which one (1) is it? Electronic accessories or equipment are covered under O.A.P. 1 Owner’s Form:

For the full replacement cost.
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Up to $2,500 is installed after the vehicle is purchased.
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For the full actual cash value if factory installed.
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For the full actual cash value.
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Correct

Incorrect
Question 6 of 40

6. Question

The insured (who has automobile insurance) is struck by an automobile while riding her bicycle and receives minor injuries. Medical payments for the insured will:

Be paid by the insured’s automobile policy under Accident Benefits.
Correct Incorrect Correct answer

Be paid by the provincial medical plan.
Correct Incorrect Correct answer

Be paid by the motorist’s automobile policy under Third Party Liability.
Correct Incorrect Correct answer

Not be paid if the insured was at fault to any extent.
Correct Incorrect Correct answer

Correct

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Question 7 of 40

7. Question

Under the “What Automobiles Are Covered” section of O.A.P. 1 Owner’s Form, a newly acquired automobile is automatically covered for a period of 14 days. This automatic coverage is limited to:

Those coverages which applied to the vehicle replaced or which apply to all of the insured’s vehicles if it is an additional automobile.
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Private passenger vehicles only.
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A vehicle which replaces one already insured under the policy.
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Vehicles which are chiefly used for pleasure purposes.
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Correct

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Question 8 of 40

8. Question

Insurance under Section 7 of O.A.P. 1 Owner’s Form, Loss or Damage Coverages, is usually subject to a deductible. It does not apply to loss or damage caused by:

Water
Correct Incorrect Correct answer

Lightning
Correct Incorrect Correct answer

Windstorm
Correct Incorrect Correct answer

Vandalism
Correct Incorrect Correct answer

Correct

Incorrect
Question 9 of 40

9. Question

Which of the following is NOT true of recreational vehicles:

Coverage under an automobile insurance policy should be excluded by endorsement if an all-terrain vehicle is used in the water.
Correct Incorrect Correct answer

Not all drivers of recreational vehicles must be licensed.
Correct Incorrect Correct answer

Recreational vehicles are permitted to cross highways.
Correct Incorrect Correct answer

Motorized snow vehicles are automatically covered under an automobile insurance policy – no endorsements are needed at any time.
Correct Incorrect Correct answer

Correct

Incorrect
Question 10 of 40

10. Question

All clients should be counseled regarding the availability of optional benefits available under O.A.P. 1 Owner’s Form. Which one (1) of the following is NOT available?

Increased Income Replacement Benefit
Correct Incorrect Correct answer

Excess Economic Loss Endorsement
Correct Incorrect Correct answer

Indexation Benefit
Correct Incorrect Correct answer

Increased Caregiver Benefit
Correct Incorrect Correct answer

Correct

Incorrect
Question 11 of 40

11. Question

The insured’s automobile is broken into and some articles are taken. Specified perils will cover:

Musical instruments that were in the trunk.
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The bumper jack belonging to the automobile.
Correct Incorrect Correct answer

The insured’s raincoat.
Correct Incorrect Correct answer

Property of the insured’s passengers.
Correct Incorrect Correct answer

Correct

Incorrect
Question 12 of 40

12. Question

Under Section 7, Physical Damage to Own Automobile coverage, the insurer agrees to indemnify:

Any occupant of the vehicle.
Correct Incorrect Correct answer

Anyone who drives or operates the automobile with consent.
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The named insured.
Correct Incorrect Correct answer

Any of the above.
Correct Incorrect Correct answer

Correct

Incorrect
Question 13 of 40

13. Question

Indicate the correct way to insure a snowmobile:

Through an O.A.P #1 Owner’s Form to cover all the exposures to be insured.
Correct Incorrect Correct answer

By an endorsement to a Homeowners or Tenants policy to cover the Third Party Liability and a Personal Articles Floater for direct damage to the machine.
Correct Incorrect Correct answer

With an O.A.P. 1 Owner’s Form to cover Third Party Liability and Accident Benefits, and an Inland Marine Floater for direct damage to the machine.
Correct Incorrect Correct answer

Through a Snowmobile Floater to cover all the exposures to be insured.
Correct Incorrect Correct answer

Correct

Incorrect
Question 14 of 40

14. Question

If the insured drove his automobile in to his own garage door, what would be included under the Own Damage coverage of his automobile policy?

Both the auto and the door
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The auto
Correct Incorrect Correct answer

The door
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No coverage applicable
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Correct

Incorrect
Question 15 of 40

15. Question

If an insured automobile being driven by a person without the owner’s consent is involved in an accident, the only coverage available to that driver is certain coverage under:

Third party liability.
Correct Incorrect Correct answer

Accident benefits.
Correct Incorrect Correct answer

All perils.
Correct Incorrect Correct answer

Uninsured motorist coverage.
Correct Incorrect Correct answer

Correct

Incorrect
Question 16 of 40

16. Question

An insured requests that the limit of liability in his/her automobile policy O.A.P. 1 be reduced. What is the minimum amount he/she must carry under Ontario law?

$100,000/$300,000 – Bodily Injury, $50,000 – Property Damage
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$200,000 inclusive
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$500,000 inclusive
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$1,000,000 inclusive
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Correct

Incorrect
Question 17 of 40

17. Question

The insured leaves a tavern, gets in to his auto in an intoxicated state, and causes an accident on the way home. Which of the following would not be covered?

Collision damage to his automobile.
Correct Incorrect Correct answer

Damage to a telephone pole.
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Damage to another automobile.
Correct Incorrect Correct answer

Medical and surgical expenses required as a result of injuries he sustains.
Correct Incorrect Correct answer

Correct

Incorrect
Question 18 of 40

18. Question

What type of automobile insurance policy provides liability coverage to a person who does not own an automobile but requires coverage for other automobiles?

Excess policy
Correct Incorrect Correct answer

Lessor’s Contingent policy
Correct Incorrect Correct answer

Standard non-owned policy
Correct Incorrect Correct answer

Driver’s policy
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Correct

Incorrect
Question 19 of 40

19. Question

The basic Income Replacement Benefit payable under O.A.P. 1 Owner’s Form, Section 4 – Accident Benefits Coverage is $400 per week. The actual amount is based on:

90% of Net Income
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70% of Net Income
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70% of Gross Income
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90% of Gross income
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Correct

Incorrect
Question 20 of 40

20. Question

Under Loss of Use (subsequent to a theft of an automobile), reimbursement begins:

24 hours after the theft has been reported to the insurer
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24 hours after the theft has been reported to the police
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48 hours after the theft has been reported to the insurer or to the police
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72 hours after the theft has been reported to the insurer or to the police
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Correct

Incorrect
Question 21 of 40

21. Question

Which of the following is covered under the All Perils coverage (own damage) of an automobile policy?

Damage caused to the automobile while the driver was under the influence of drugs.
Correct Incorrect Correct answer

Radioactive contamination.
Correct Incorrect Correct answer

Rusting of the automobile body.
Correct Incorrect Correct answer

Vandalism damage to the automobile.
Correct Incorrect Correct answer

Correct

Incorrect
Question 22 of 40

22. Question

Which of the following statements is NOT true? Lawsuits in Ontario are:

Permitted with respect to economic loss under certain circumstances.
Correct Incorrect Correct answer

Not permitted with respect to non-economic loss unless the threshold has been met.
Correct Incorrect Correct answer

Not permitted with respect to most health care expenses.
Correct Incorrect Correct answer

Not permitted with respect to catastrophic impairment.
Correct Incorrect Correct answer

Correct

Incorrect
Question 23 of 40

23. Question

A cigarette sets the automobile seat on fire and causes $450 damage. The policy shows a $300 deductible under Specified Perils. The insurer would pay?

$0
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$150
Correct Incorrect Correct answer

$450
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$350
Correct Incorrect Correct answer

Correct

Incorrect
Question 24 of 40

24. Question

In which of the following situations is coverage available for a temporary substitute automobile?

A friend lends his automobile to the insured.
Correct Incorrect Correct answer

The insured borrowed an automobile while his vehicle is being repaired.
Correct Incorrect Correct answer

The insured rents an automobile while on vacation in Florida.
Correct Incorrect Correct answer

The insured borrows the company van to move a few pieces of furniture.
Correct Incorrect Correct answer

Correct

Incorrect
Question 25 of 40

25. Question

Provincial Insurance Acts governing automobile insurance applications state that:

A signed application must be obtained before a policy can be issued.
Correct Incorrect Correct answer

A signed application must be obtained after the policy is issued.
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No application is required unless the insurer wants it.
Correct Incorrect Correct answer

If a policy is issued without a signed application the insurer must send a true copy of the application to the insured for signature
Correct Incorrect Correct answer

Correct

Incorrect
Question 26 of 40

26. Question

The OPCF#44 Family Protection coverage:

Applies to property damage caused by unidentified and uninsured motorists.
Correct Incorrect Correct answer

Applies a deductible to injury losses.
Correct Incorrect Correct answer

Is part of every Canadian owner’s automobile policy.
Correct Incorrect Correct answer

Allows an insured to recover up to the limit of his own policy.
Correct Incorrect Correct answer

Correct

Incorrect
Question 27 of 40

27. Question

To a person who has made or who knows of a material misrepresentation, the insurer is NOT required to pay:

Attendant care benefits
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Death or funeral benefits
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Income replacement benefits
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Any of the above
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Correct

Incorrect
Question 28 of 40

28. Question

In the Additional Agreements of the Insurer, Own Damage, the insurer agrees to waive subrogation against:

A neighbor driving the auto with the insured’s consent.
Correct Incorrect Correct answer

A neighbor who had care or custody of the auto for repair purposes.
Correct Incorrect Correct answer

Anyone, other than the named insured, who has breached any condition of the policy.
Correct Incorrect Correct answer

Someone who was storing the auto in a parking garage.
Correct Incorrect Correct answer

Correct

Incorrect
Question 29 of 40

29. Question

All accidents and claims within the following time period immediately preceding the application must be disclosed:

Three (3) years
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Four (4) years
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Five (5) years
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Six (6) years
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Correct

Incorrect
Question 30 of 40

30. Question

A horse and buggy are hit by an automobile. The horse is killed. The automobile has been damaged but not the buggy. Which of the following coverage apply?

Own Damage.
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Third Party Liability (Property Damage)
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Neither of the above.
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Both of the above.
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Correct

Incorrect
Question 31 of 40

31. Question

Recovery from the responsible party for loss of income as a result of an auto accident, after trial is:

70% of net income
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90% of net income
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70% of gross income
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100 % of gross income
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Correct

Incorrect
Question 32 of 40

32. Question

Rising water is covered under:

All perils only
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Comprehensive only
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Comprehensive but not Specified perils.
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All Perils, Comprehensive and Specified perils.
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Correct

Incorrect
Question 33 of 40

33. Question

When a third party has been injured, which of the following could jeopardize the insured’s auto coverage?

Not admitting responsibility even if he feels at fault.
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Refusing to discuss the claim with the third party.
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Reporting the claim directly to the insurer instead of to the agent/broker.
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Trying to settle amicably with the third party.
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Correct

Incorrect
Question 34 of 40

34. Question

The insurer is required to pay the money for which it is liable under the automobile insurance contract within sixty days after the:

Date of the accident
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Proof of loss has been received by the insurer.
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Date that the insured has filed a report with the police.
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Insurer has chosen to repair the damaged automobile.
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Correct

Incorrect
Question 35 of 40

35. Question

Which one (1) of the following statements is TRUE?

Limits payable under the no-fault Accident Benefits are stated in the Highway Traffic Act.
Correct Incorrect Correct answer

Collateral benefits are any sources of entitlement outside of the auto insurance policy.
Correct Incorrect Correct answer

Rehabilitation and physical therapy expenses are not payable under no-fault accident benefits.
Correct Incorrect Correct answer

The family protection endorsement applies only in single vehicle accidents.
Correct Incorrect Correct answer

Correct

Incorrect
Question 36 of 40

36. Question

Your insured has bought a snowmobile and advises you a fourteen year old son will also be operating it. You have provided your insured with an O.A.P. 1, Owner’s Form and advise that:

Damage to the exterior of the building directly caused by vandalism or malicious acts.
Correct Incorrect Correct answer

You will add OPCF 32, Recreational Vehicle Endorsement to provide coverage for underage operator.
Correct Incorrect Correct answer

There is no coverage while the son is driving as he is under sixteen years of age and the coverage cannot be obtained.
Correct Incorrect Correct answer

You will add the OPCF 44 Family Protection Endorsement, to cover any accident the son may have.
Correct Incorrect Correct answer

Correct

Incorrect
Question 37 of 40

37. Question

Insurance under O.A.P. 1 Owner’s Form, Section 7, Loss or Damage Coverages, is usually subject to a deductible. It does not apply to damage caused by:

Wind
Correct Incorrect Correct answer

Water
Correct Incorrect Correct answer

Fire
Correct Incorrect Correct answer

Vandalism
Correct Incorrect Correct answer

Correct

Incorrect
Question 38 of 40

38. Question

Under Loss of Use due to theft, reimbursement ends upon:

The date of the completion of the repairs or replacement.
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The date the Insurer tenders settlement.
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Either A or B whichever occurs first.
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The expiry date of the policy
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Correct

Incorrect
Question 39 of 40

39. Question

Uninsured Automobile coverage

Must be added by endorsement to O.A.P. Owners Form.
Correct Incorrect Correct answer

Only covers bodily injury, but never property damage.
Correct Incorrect Correct answer

Can cover accidental damage to the insured’s automobile, provided the uninsured owner or driver of the other automobile is identified.
Correct Incorrect Correct answer

Provides coverage for third parties if the insured causes bodily injury and has breached a statutory condition.
Correct Incorrect Correct answer

Correct

Incorrect
Question 40 of 40

40. Question

Highway Victims Indemnity Funds:

Are operated by the government of all provinces.
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Only pay, in most provinces, if a judgment is obtained.
Correct Incorrect Correct answer

Only pay for injury claims.
Correct Incorrect Correct answer

Will not pay if the claimant was totally responsible for causing the accident.
Correct Incorrect Correct answer

Correct

Incorrect

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