According to the RIB act, which of the following is not considered a role of an insurance broker?

Disable ads (and more) with a premium pass for a one time $4.99 payment

Elevate your insurance brokerage career in Ontario with our RIBO Practice Exam. Tailored to simulate the real test, it's the perfect tool to ensure your success

The role of an insurance broker primarily revolves around representing the client's best interests in procuring and managing insurance coverage. This typically involves negotiating policies to secure coverage that meets the clients' needs, advising on risk management to help clients understand and mitigate potential risks, and providing assistance during the claims process to ensure smooth navigation through any challenges that may arise.

Arranging payment plans for premiums, while it may be a service provided in some contexts, is not fundamentally a core role of an insurance broker as defined by the RIB Act. Instead, this function may fall more squarely within the purview of insurance carriers or financial service providers, who handle the logistics of premium payments directly. Thus, the option concerning payment plans does not align with the principal responsibilities designated to insurance brokers under the act.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy