A rib license cost is required for individuals wishing to work as insurance brokers in Ontario. The RIBO exam is regulated by the Registered Insurance Brokers of Ontario (RIBO) and is available online or in-person at Institute examination centres.

Upon successfully passing the Level 1 exam, students will receive a restricted registration that allows them to act as a broker under the supervision of an unrestricted broker for 2 years. After the 2 years, they can apply to become an unrestricted broker.

Prep and Pass: Your Comprehensive Guide to RIBO Exam Preparation

In order to get a RIBO licence, there are many steps you must take including studying, writing the RIBO exam and finding employment as an insurance agent or broker. The RIBO exam is a requirement for all Insurance Management Program students and we recently hosted an alumni RIBO Panel to share their best practices with current students.

The RIBO exam is 90 questions with 3 hours of writing time and covers the RIB Act, Property, Auto/Home and Travel/Health. It can be written in a Virtually proctored online format through TopClass or ProctorU or in-person at an Institute examination centre. On exam day, students must bring original, valid government-issued photo identification to verify their identity. The name on the ID must match the name used to register for the exam (in the Insurance Institute Member account). If the student cannot provide a matching form of identification, they will not be permitted to write the examination and may have to reschedule their exam subject to a rescheduling fee.