Registered Insurance Brokers of Ontario (RIBO) Exam 2026 – 400 Free Practice Questions to Pass the Exam

The statement regarding comprehensive coverage being responsible for damage caused by the theft of the automobile by an employee of the insured is misleading and thus represents a false assertion. Comprehensive coverage is designed to protect against a range of risks, such as theft, vandalism, or natural disasters. However, it typically does not extend to cover theft or damage caused by individuals who are considered to be in the course of their employment, as this may fall under exclusions within many standard insurance policies. This is due to the notion of vicarious liability, where an employer is not held liable for the crimes of an employee committed while fulfilling their job duties.

In contrast, the other statements accurately reflect the details of insurance coverages:

The limit for Uninsured Automobile coverage for property damage is indeed commonly set at $25,000 per occurrence, which is a standard amount within many insurance policies, ensuring that policyholders are aware of the limits when dealing with uninsured motorists.

The caregiver benefit, which is typically included within accident benefits, provides financial assistance for those who need care due to an accident. In this case, the correct amount for the first dependant in need of care aligns with policy terms, making it a true statement.

For Direct Compensation-Property Damage (DCPD) to