What type of training is mandated by the RIBO Act for brokers?

The RIBO Act mandates that brokers undergo periodic professional development and education to ensure they maintain a high standard of practice and stay updated on industry changes. This requirement is crucial because it helps brokers develop their skills and knowledge in a regulated environment, ultimately serving the best interests of consumers and maintaining the integrity of the insurance profession.

Continuous professional development fosters a culture of learning and adaptability, allowing brokers to respond effectively to new regulations, market trends, and emerging technologies within the insurance sector. This structured approach to training ensures that brokers not only remain compliant with industry standards but also enhance their competence, thereby improving service to their clients.

In contrast, the other options do not align with the requirements of the RIBO Act. Online courses alone may not provide the comprehensive education needed, while informal training from friends or unregulated sessions would lack the necessary oversight and rigor that the RIBO Act aims to instill in the profession.