Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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

O.A.P. 1 Owner Form, suitably endorsed.

An O.A.P. 1 Owner Form is the required policy because the client is leasing the car from an automobile dealer. This policy provides coverage for the owner of the vehicle, which in this case would be the dealer. The other options are incorrect because

- O.P.F. #2 Driver's Form is not the correct policy as it is intended for drivers who are not the owner or lessee of the vehicle.

- O.P.F. #6 Non-owned Automobile Form is not the correct policy as it provides coverage for non-owned vehicles, but in this case the client is leasing the vehicle from the dealer, making it their owned vehicle.

- Garage Auto Form is not the correct policy as this is intended for businesses that own or operate a garage and require coverage for vehicles in their care, custody, or control.

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O.P.F. #2 Driver's Form.

O.P.F. #6 Non-owned Automobile Form, suitable endorsed.

Garage Auto Form, suitably endorsed.

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