Free Insurance Regulation Practice Questions
Nevada Personal Lines exam — 244 practice questions.
Subtopics: Line of authority, Cancellation notice, Nonrenewal notice, Guaranty association, Residual market, Unfair claims practices, Binder, Rate standard, Fraud, 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, Administrator, 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, 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, Other cancellation notice, Notice delivery, Commercial 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, Inadequate rates, Unfairly discriminatory rates, Rate filing timing, Deemed approval, Rate service organizations, Purpose of rate law, Essential coverage plans, Policies through agents, 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, Fair Credit Reporting Act, Gramm-Leach-Bliley, Fraud and false statements, Do Not Call, Terrorism Risk Insurance Act, McCarran-Ferguson Act, Anti-money laundering, CAN-SPAM Act, FCRA reporting periods, FCRA adverse action, FCRA permissible purpose, FCRA disputes, Claims history databases, GLBA opt-out, GLBA privacy notice, GLBA enforcement, Prohibited persons (1033), Prohibited persons (1034), Telemarketing calling hours, Do-Not-Call exceptions, Do-Not-Call registry, History of regulation, Risk retention groups, Purchasing groups, Mandatory flood purchase, NFIP origin, Federal Insurance Office, NAIC role, Nonresident licensing, Misrepresentation and advertising, Fraud warning, Guaranty associations
Read the Insurance Regulation study guide
Sample questions & answers
1. Which Nevada producer line of authority is limited to automobile and motorcycle insurance and residential property insurance for individuals?
Personal lines
Nevada's personal lines authority consists of auto and motorcycle insurance and residential property insurance, including flood, personal watercraft and excess liability over those policies; property and casualty authorities are broader.
2. A Nevada personal auto policy in force for 6 months is being canceled for nonpayment of premium. The cancellation is effective no sooner than how many days after the notice is delivered or mailed?
10 days
For policies in effect 70 days or more, cancellation for nonpayment requires at least 10 days' notice; other permitted grounds require at least 30 days.
3. To nonrenew a personal auto or homeowners policy in Nevada, the insurer must mail or deliver notice at least how many days before the expiration date?
30 days
Nonrenewal notice is required at least 30 days before expiration for non-commercial policies (60 days for commercial or business policies).
4. If a Nevada property and casualty insurer becomes insolvent, certain unpaid claims may be paid by the:
Nevada Insurance Guaranty Association
The Nevada Insurance Guaranty Association pays covered claims of insolvent property and casualty insurers, generally up to the lesser of the policy limit or $300,000 per occurrence.
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.
