If you’re thinking of a career in insurance, or already work in it, then you’ve probably heard of RIBO. RIBO stands for Registered Insurance Brokers of Ontario and they’re a self-regulating body that sets standards and administers exams for insurance brokers in the province. RIBO also sets codes of conduct and accredits courses that brokers need to take. This article will explain what a ribo license course is, how to get one and what it lets you do. URL https://courses.pnclearning.com/courses/ribo-1
To be licensed to sell general property and casualty insurance like car, home and liability in Canada you need to pass the RIBO level 1 exam. The level 1 exam consists of 90 multiple choice questions and a short answer case study. It takes about three hours to write and the minimum passing mark is 75%. After passing the exam you will have a RIBO level 1 “restricted registration.” This means that you are only allowed to work under the supervision of a principal broker for up to two years.
Mastering RIBO: Your Comprehensive Guide to Navigating the Insurance Broker License Course
After that you can apply to get your RIBO level 2 license and start working unsupervised. The process to get your level 2 is very similar to getting your RIBO level 1 license. After you have worked as a restricted broker for up to two years, you can then move on to getting your RIBO level 3 license which will allow you to manage your own brokerage as the Principal Broker.
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