• Level 2 – Technical/Commercial

Level 2 – Technical/Commercial

Exam Length: 3 Hours

Exam Format: 

  • Part A: Insurance Concepts, Principles + Practices (20 Multiple Choice)
  • Part B: Case Study (60 Narrative Marks)
  • Part C: Forms Recognition (20 Narrative Marks)

Passing Grade:

  • 75% Overall Grade
  • 60% Overall in each part
  • Failure to obtain the passing grade in each section will require a rewrite of all three sections.

Eligibility to Write the Exam:

  • Active RIBO Level 1 License
  • Please refer to the RIBO Exam Rules for more exam eligibility details.

Helpful Resource:

Successfully passing the exam qualifies an individual to attain the “Level 2” License. If you hold a RIBO Level 1 license, you can write the exam.

Upon completion of the RIBO exam, results will be provided to you by the exam provider once they are available. Please do not contact RIBO for your exam results.

How to Apply to Write the Examination

You can register for a RIBO exam with the following exam providers:

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.

Please carefully read the Exam Standards.

Sample Case Study Examination Question

General information is provided about the risk which is to be studied.

Question:

Describe briefly three (3) property coverage features you would recommend for this risk. (6 marks)

Analyze the Question:

  • Three (3) property coverage features must be stated.
  • A brief description of each one is required - it is not sufficient just to list them.
  • The mark value is 6 so each feature is worth 2 marks.

An appropriate Answer:

  • Replacement Cost Endorsement - to eliminate depreciation from the settlement of an insured loss, provided the insured repairs or replaces the damaged property.
  • Blanket Coverage on Buildings, Equipment and Stock - instead of a specific sum insured on each item separately, it provides for a single combined total sum insured. This allows for fluctuations in value to be fully covered up to the total sum insured.
  • Stated Amount Co-Insurance - the policy Co-Insurance condition is met by insuring to a stated amount rather than to a percentage of value. This is easier to comply with, particularly if insurable value change.

Self-Study Resources - Unrestricted Technical Exam

The following Brokerage Management course texts are recommended as exam preparation or self-study materials for this exam:

Additional self study materials are available for download in the broker resources section of the website: