Registered Insurance Brokers of Ontario (RIBO) Practice Exam

After registering as an insurance broker, it is essential to keep the Registered Insurance Brokers of Ontario informed of any changes to application details. This requirement ensures that the regulatory body has accurate and up-to-date information about all brokers, which is crucial for maintaining the integrity and reliability of the insurance profession. Notifying the RIBO allows them to assess any implications of the changes and ensure compliance with their standards and regulations.

Re-registering with updated information is unnecessary because the existing registration can simply be updated with the new details. Filing for a new insurance policy is unrelated to the requirement of updating registration details, as it pertains to the broker's business activities rather than their registration. Waiting until the next renewal period would not be acceptable, as timely communication of changes is important to maintain compliance with regulatory requirements. Thus, promptly notifying the RIBO is the correct action to take.