• Examination FAQs

Does RIBO administer the licensing exam?

The exams are administered by Insurance Brokers Association of Ontario (IBAO) or Insurance Institute of Canada (IIC).

Please visit the IIC website and IBAO website for more information regarding examination schedules and to register for exams.

Where can I find study materials for the exams?

RIBO provides high-level policies and resources to study and prepare for the exam. RIBO doesn’t offer any courses nor does it review preparatory courses.

Organizations like the Insurance Brokers Association of Ontario (IBAO) or the Insurance Institute of Ontario (IIO) may have some available, depending on the type of exam you wish to prepare for. Please visit their websites for more information.

What RIBO-issued guidelines and regulations will help me prepare for the exams?

www.insuranceinstitute.ca (level 2 exam)

Please also consult the RIBO Exam Standards for each exam for more details.

How much does it cost to take a RIBO exam?

Please visit the IIC website and IBAO website for up to date information concerning examination fees.

What does the fee include?  Does it include my license fee?

The fee charged by the IIC and IBAO covers the cost of proctors, virtual proctors, development and administration of the exam. The license fee is a separate fee that will be charged when you register for a license and have been employed by a RIBO-licensed firm. This license will authorize you to sell insurance in Ontario as a Broker.

What dates are available? Where is the exam schedule?

Exams are scheduled directly through our exam providers, and dates and times may vary based on availability.

Typically, IBAO offers the exam twice a month, while IIC provides exams on a rolling basis, Monday to Friday. For the most up-to-date information, please refer to their websites as schedules may change without prior notice.

How do I reschedule my exam?

Please check the for details on rescheduling:

All examinees must wait a minimum of two weeks before rescheduling after a failed attempt. This time will be needed to validate results among other administrative tasks, as outlined in RIBO’s exam rules.

Can I write in person?

Yes, in-person exam are available through both of our exam providers. Please visit the IIC website or the IBAO website for more information regarding in-person exam availability.

How do I request an accommodation?

You must submit a completed accommodation application and documentation no later than ten business days prior to the start of the preferred exam administration period. If you had previously requested accommodations through RIBO, you will need to submit a new accommodation request to the IIC or the IBAO.

How long will it be before I received my grades? 

Online Level 1 examinations are marked electronically, and the grades will be provided to the candidate generally within five business days.

Level 2 examinations will be marked by third-party markers. Individuals will be advised of their results by email generally within 10-15 business days.

For confidentiality reasons, examination result information cannot be released to any person other than the individual candidate.

If you have written an exam, it is your responsibility to share those results with RIBO as part of applying for your license, or a license upgrade. 

Please contact your exam service provider if you have questions about your exam results. 

How can I request a remark?

The Level 1 exam and Level 1 equivalency exams are 100 percent multiple choice exams. As such, no remarks are available for the Level 1 exam. For all Level 2 exams, examination results which are within one and/or two marks of a pass are automatically reviewed and/or remarked prior to the release of the examination results. Please contact your examination provider for details on how to appeal your Level 2 exam results.

Will I be able to write the exam if I am on a work visa?

The RIBO exam and license do not consider immigration status as part of the eligibility criteria. However, it is the candidate’s responsibility to verify whether their status in Canada permits them to take the exam by consulting with Immigration, Refugees, and Citizenship Canada (IRCC). The responsibility for ensuring compliance with employment restrictions and requirements lies with the individual and their potential employer.

There are two key points to note:

You will need an Employment Confirmation (such as an offer letter) during your RIBO license registration to apply for your license.

Your role as a RIBO-licensed broker must be your primary job. If you wish to pursue other employment, you must apply for a Secondary Business Exemption.

This information is provided for general guidance only and is not intended as legal advice. We strongly recommend reaching out to Immigration Canada directly for a thorough assessment of your specific situation.

Other FAQs

Why has RIBO partnered with the Insurance Institute of Ontario (IIC) and Insurance Brokers Association of Ontario (IBAO) for exams?

RIBO has partnered with these organizations In order to create more efficiencies for the exam administration process. Candidates can register for RIBO exams and book examination dates directly with the IBAO or IIC.

I have previously written the level one equivalency exam with the IIC or the IBAO will those attempts be counted against me?

There is no longer a limit at how many attempts an individual takes at writing an equivalency exam. Candidates are eligible to rewrite within the 8-month period following their first examination per exam provider. Candidates after two failed attempts are subject to an 8-month waiting period following their second failed attempt with the same service provider.

Exam results will be invalid and will not count towards licensing if an individual attempts any exam(s) more than twice in an 8-month period with any single exam provider. No refunds will be provided for such individuals.

Licensing FAQs

When will the new license framework come into effect?

RIBO’s licensing framework is changing. Effective immediately, RIBO will begin issuing new licenses under the new framework, meaning that individuals will receive a Level 1, 2 or 3 license. This includes all individuals seeking a reinstatement who were previously licensed under the former licensing restriction framework.

All previously issued licenses, expiring September 30, 2024 will transition to the new license framework prior to the license renewal period. 

Why does the license no longer refer to A&S licenses? 

In RIBO’s early days in 1981, we were given the authority to register A&S-licensed individuals who were “independent” (i.e. that they did not work for an insurance company or agent). We do not have any individuals who are registered under this category of license. 

Over time, the distribution model insurers used for these product lines have evolved, and individuals must be FSRA-licensed to sell A&S products.

The changes will have no impact for individuals who wish to become RIBO-licensed that have an L&H or A&S license.

Similarly, RIBO-registered brokerages may also be registered to sell those FSRA-licensed products concurrently.

Can I still sell travel insurance, even if it isn’t specified on my license anymore? 

Yes, if you are licensed to sell travel insurance now, you will continue to be licensed to sell travel insurance once your license transitions to the new framework.

Since January 1, 1993, it’s been mandatory for an insurance broker selling Travel Health Insurance to be licensed by RIBO to do so.

At that time, RIBO Council required individuals to obtain a minimum of 60% in the Travel Health section of the Entry Level 1 exam to meet this requirement.

Going forward, there will be no minimum passing mark for this section. This will not change what products brokers are allowed to sell.

RIBO has worked to establish its own qualification standards to allow brokers to sell travel insurance in such circumstances and does not plan to remove these requirements from its competency standards.

If I pass the level 1 exam, can I sell insurance?

Only licensed individuals are authorized to sell insurance. Upon successful completion of the level 1 exam, individuals are invited to apply for a RIBO license. The application process requires all individuals to submit a valid criminal record check and be at least 18 years of age or older. The Registered Insurance Brokers Act and Regulations further specify minimum qualifications for licensing of individuals.

How long do I have to register for a license and get employed? 

To be eligible for a license, individuals must become employed with a RIBO licensed firm within one year after successfully completing the examination.

I passed my exam, how do I apply for a license?

Once you have successfully completed one or more qualifying exams and have obtained a sponsor or employer for your license, please review the Registration Checklist before proceeding to apply for your RIBO license.

Exam Policy FAQs

I failed my exam. How many times can I rewrite my exam?

Candidates are allowed 2 failed attempts per exam provider, i.e. 2 attempts to pass the exam conducted by IIC and 2 attempts to pass the exam conducted by IBAO, if they fail all 4 attempts, they must then wait 8 months before they are eligible to take the exam again with either provider.

Does the exam fee cover rewrites?

There are no discounted fees that apply for rewrites. 

What if I write the equivalency exam and I find out I am not eligible?

Candidates are advised to review RIBO’s website to determine whether they qualify. Any questions can be directed to licensing@ribo.com.

No refunds will be provided to candidates who register an incorrect exam.

Will I have access to the policy booklets during my exam?

A Consolidated Examinee Resource will be available for examines when taking the exam. This document conveniently compiles essential materials, including OAP 1, By-Laws No. 1, No. 2, and No. 3, the RIB Act, and Ontario Regulations 308/98, 990, and 991. Certain policies may be excluded from specific exams if they are not relevant to the content being tested.

What is the minimum mark required for passing the level 1 and Level 2 exams?

Level 1 Exam: 75% Overall Grade

Level 2 Exam: 75% Overall Grade, with minimum 60% in Each Section.

Why did the format of the Level 1 exam change?

The case study portion of the level 1 exam was removed from the level 1 exam effective April 1, 2021. This section of the exam required review and marking by external examiners. Consultation with education experts determined that this component of the exam was not imperative for the assessment of insurance specific knowledge. There will be no changes made to the duration of the exam (3 hours in length).

Is the Level 1 exam format change permanent?

It is not a permanent change. As of January 1, 2024 Exams will be 100 Multiple Choice Questions with the inclusion of 15 additional Pilot Questions (115 Questions in total). The Pilot Questions will not be counted towards your final mark and are included to help in the development of future versions of the Level 1 Exam. The inclusion of the Pilot Questions may be subject to change depending on the current status of our Piloting phase. For the most current information regarding the total number of exam questions, please refer to your Exam Provider.