Free Insurance Regulation Practice Questions
Nevada Casualty exam — 265 practice questions.
Subtopics: Delegation of powers, Commissioner duties, Investigations, Regulations, Criminal referrals, Legal counsel, Court injunctions, Examination frequency, Examination of licensees, Examination expense, Examiner oaths, Hearing request deadline, Hearing timing, Notice of hearing, Order on hearing, Appeals, Investigation records, Administrative fines, Unpaid fines, Suspension length, Grounds for discipline, Exam misconduct, Other-state discipline, Unlicensed business, Denial hearing, Duties while suspended, Lapsed license authority, Chapter 683A violations, Insurer defined, Authorized insurer, Foreign insurer, Alien insurer, Domestic insurer, Transacting insurance, Premium defined, Reciprocal insurer, Mutual insurer, Certificate of authority, COA exceptions, Government-owned insurers, Unauthorized insurers, Producer defined, Unlicensed activity fine, Insurer exemption, Licensing exemptions, Managing general agent, MGA exclusions, Nonresident license, Nonresident change of state, Moving to Nevada, Exam exemptions, Resident applicant age, Business entity license, Fingerprints, Failed exam, Lines of authority, Personal lines authority, Renewal period, Late renewal, Reinstatement, Change of address, Unreported address, Military waiver, CE hours, CE exemptions, CE experience exemption, CE carryover, CE records, CE applicability, Reporting actions, Reporting prosecutions, Fictitious names, Underwriter designation, Multiple fictitious names, Adjuster defined, Public adjuster, Independent adjuster, Adjuster concurrent licenses, Unlicensed adjusting, Insurance consultant, Consultant independence, Consultant license exemption, Reinsurance intermediary, Administrator, Limited lines, Surplus lines broker license, Appointment filing, Broker vs agent, Broker placements, Appointment renewal, Termination notice, Termination copy, Producer comments, Termination immunity, Twisting, Misrepresentation, False advertising, Defamation, Boycott coercion intimidation, False financial statements, P&C rebating, Gift limit, Receiving a rebate, Rebating penalties, Permitted practices, Unfair discrimination, Sex and marital status, Insurance fraud defined, Fraud penalty, Fraud reporting, Suspected arson, Unfair claims practices, Lowball offers, Insurer liability for unfair practice, Claim acknowledgment, Notice to agent, Division inquiries, Starting investigation, Completing investigation, Accept or deny, Paying accepted claims, Extended investigations, Time-limit warning, Undisputed amounts, Fiduciary capacity, Embezzlement, Remittance options, Commingling waiver, Trust account, Account deficit, Return premiums, Failure to remit, Commissions to unlicensed, Renewal commissions, Appointment for commissions, Commission sharing, Transaction records, Record contents, NIGA claim limit, NIGA unearned premium, NIGA workers comp, NIGA exclusions, NIGA punitive damages, NIGA net worth, NIGA claim window, NIGA assessments, NIGA filing deadline, NIGA other insurance, Midterm cancellation grounds, Seventy-day rule, Nonpayment notice, Other cancellation notice, Notice delivery, Commercial nonrenewal notice, Personal nonrenewal notice, Late nonrenewal notice, Nonrenewal exceptions, Anniversary cancellation, Renewal with changes, Changes without notice, Request for reasons, Risk-sharing plan notice, Division review, Burden on review, Withdrawing from a class, Immunity for reasons, Rate standards, Inadequate rates, Unfairly discriminatory rates, Rate filing timing, Deemed approval, Rate service organizations, Purpose of rate law, Essential coverage plans, Policies through agents, Binder defined, Binder duration, Binder extension, Who may bind, Binder copies, Replacing a binder, Binder as proof, Binder premium, Body shop payment, Financed vehicle repairs, Appraiser defined, Appraiser exemption, Appraiser bond, Unlicensed appraising, Total loss settlement, Deductible recovery, Repair shop choice, Credit disclosure, Credit restrictions, Credit rerating, Credit sole basis, Credit extraordinary events, Credit disputes, Credit law scope, Dog breed rule, Surplus lines defined, Export conditions, Lower rates, Declinations, Exempt commercial purchaser, Broker report, Surplus lines records, Eligible insurers, Policy stamp, Surplus lines tax, Surplus lines tax rate, Broker certificate, Validity of placements, Premium paid to broker, Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Rebating, CAN-SPAM Act, Guaranty association, Federal Insurance Office, Risk retention groups, Purchasing groups, Surplus lines (NRRA), Surplus lines insurers, Rate regulation, Rating laws, Advisory organizations, Unfair trade practices, Misappropriation of premiums, Motor carrier financial responsibility, ERISA bonding, Producer licensing concepts, Agent vs broker, Gap insurance licensing, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. Under the Nevada Insurance Code, the Commissioner of Insurance may delegate the exercise of his or her powers and duties to:
A deputy, examiner or employee of the Division
The Commissioner may delegate any power, duty or function to a deputy, an examiner or an employee of the Division, and that person's act in the Commissioner's name is deemed the Commissioner's official act.
2. Which of the following is a duty the Nevada Insurance Code places on the Commissioner?
Enforce the provisions of the Insurance Code
NRS 679B.120 directs the Commissioner to organize and manage the Division, execute the duties imposed by the Code and enforce its provisions; it does not make the Commissioner an underwriter or a commission-setter.
3. The Nevada Commissioner may conduct examinations and investigations of insurance matters, beyond those expressly authorized, when the Commissioner has:
Reasonable and probable cause to suspect a Code violation
The Commissioner may conduct additional examinations and investigations as he or she deems proper upon reasonable and probable cause to determine whether any person has violated the Code.
4. A person who willfully violates a regulation adopted by the Nevada Commissioner of Insurance is subject to:
Suspension or revocation of a license, or a fine in lieu of it
Willful violation of a Commissioner's regulation exposes the person to suspension or revocation of a certificate of authority or license, or an administrative fine in lieu of suspension or revocation, as applicable under the Code.
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
