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An insurance broker whose registration is "restricted to Acting Under Supervision" may only perform which one (1) of the following activities? OA) Engage in the sale of insurance anywhere in Ontario providing the transaction is conducted on behalf of the broker under whose supervision they act. OB) Establish a trust account and pay the supervising Principal Broker on a monthly account current basis. OC) Place business on his/her own behalf with any insurer providing permission has been given by the Principal Broker under whose supervision he/she acts. OD) Hold himself/herself out to the public as an insurance broker, conditional upon filing an Errors & Omissions policy and Fidelity Bond with RIBO.

An insurance broker whose registration is "restricted to Acting Under Supervision" may only perform which one (1) of the following activities? OA) Engage in the sale of insurance anywhere in Ontario providing the transaction is conducted on behalf of the broker under whose supervision they act. OB) Establish a trust account and pay the supervising Principal Broker on a monthly account current basis. OC) Place business on his/her own behalf with any insurer providing permission has been given by the Principal Broker under whose supervision he/she acts. OD) Hold himself/herself out to the public as an insurance broker, conditional upon filing an Errors & Omissions policy and Fidelity Bond with RIBO.

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An insurance broker whose registration is "restricted to Acting Under Supervision" may only perform which one (1) of the following activities? OA) Engage in the sale of insurance anywhere in Ontario providing the transaction is conducted on behalf of the broker under whose supervision they act. OB) Establish a trust account and pay the supervising Principal Broker on a monthly account current basis. OC) Place business on his/her own behalf with any insurer providing permission has been given by the Principal Broker under whose supervision he/she acts. OD) Hold himself/herself out to the public as an insurance broker, conditional upon filing an Errors & Omissions policy and Fidelity Bond with RIBO.
Transcribed Image Text:An insurance broker whose registration is "restricted to Acting Under Supervision" may only perform which one (1) of the following activities? OA) Engage in the sale of insurance anywhere in Ontario providing the transaction is conducted on behalf of the broker under whose supervision they act. OB) Establish a trust account and pay the supervising Principal Broker on a monthly account current basis. OC) Place business on his/her own behalf with any insurer providing permission has been given by the Principal Broker under whose supervision he/she acts. OD) Hold himself/herself out to the public as an insurance broker, conditional upon filing an Errors & Omissions policy and Fidelity Bond with RIBO.
What is the definition of "deductible"? OA) It is a specified amount to be subtracted from the amount of an insured loss and assumed by the insured. OB) It is a variable amount by which a property claim is reduced to reflect the age of the damaged property. OC) It is a stated percentage of its value to which a property must be insured; otherwise the insured must assume the loss. OD) It is an agreed specified sum above which claims are paid in full but below which no payments are made.
Transcribed Image Text:What is the definition of "deductible"? OA) It is a specified amount to be subtracted from the amount of an insured loss and assumed by the insured. OB) It is a variable amount by which a property claim is reduced to reflect the age of the damaged property. OC) It is a stated percentage of its value to which a property must be insured; otherwise the insured must assume the loss. OD) It is an agreed specified sum above which claims are paid in full but below which no payments are made.
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