Free Insurance Regulation Practice Questions
Nevada Property & Casualty exam — 252 practice questions.
Subtopics: Surplus lines, Surplus lines broker, Adjuster license, Public adjuster, Pre-licensing exam, Premium tax, Midterm cancellation notice, Commercial nonrenewal, Rebating, Sliding, Misrepresentation, 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, 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, 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, Notice delivery, 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, 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, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Fraud, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. When a risk cannot be placed with a Nevada-admitted insurer, it may be written by a nonadmitted insurer through:
The surplus lines market
If the full amount of coverage cannot be procured from authorized insurers after diligent effort, it may be exported to an eligible nonadmitted insurer through a licensed surplus lines broker.
2. To place business with nonadmitted insurers in Nevada a producer generally needs a:
Surplus lines broker license
No person may act as a surplus lines broker for risks for which Nevada is the home state unless licensed as such by the Commissioner under chapter 685A.
3. An individual who investigates and settles claims on behalf of insurers in Nevada generally must hold a(n):
Adjuster license
No person may act as or hold himself or herself out to be an adjuster in Nevada unless licensed under chapter 684A; unlicensed adjusting is a gross misdemeanor.
4. A person who, for a fee, represents the insured rather than the insurer in negotiating a claim is a:
Public adjuster
A public adjuster is employed by and represents solely the financial interests of the insured named in the policy; independent and company adjusters work for insurers.
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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.
