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RIBO Level 1 Entry-Level Broker Exam

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All RIBO Insurance Broker Related Certification Exams


IIC
C11
100 Q&As
Principles and Practice of Insurance

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RIBO Level 1 Entry-Level Broker Exam Questions and Answers

Questions 1

Under a standard Mortgage Clause, what happens if the insured intentionally sets fire to their home?

Options:

A.  

The insurer will deny the claim to both the insured and the mortgagee.

B.  

The insurer will pay the claim to the insured, but recover the funds from the mortgagee later.

C.  

The insurer will deny the claim to the insured, but will pay the mortgagee’s interest in the property.

D.  

The insurer is required to pay both parties because the mortgage was in good standing.