NLHI Nevada Life and Health Insurance Exam - Set 1 - Part 2
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 21: A licensed Nevada producer moves to a new business address and obtains a new electronic mail address. Nevada law requires the licensee to inform the Commissioner of such changes within a set time. Within how many days after the change must the licensee notify the Commissioner of it?
Question 22: Nevada regulation sets the score an applicant must attain on the licensing examination to pass, expressed as a scaled cut score rather than a raw percentage of items answered correctly. What score must the applicant attain to pass the licensing examination?
Question 23: Nevada requires a producer to complete approved continuing education within each cycle before renewal, and a portion of those hours must be devoted to a particular subject. How many of the required continuing education hours must be in the subject of ethics?
Question 24: Nevada defines an insurance consultant as a person who, for compensation, holds out as offering advice, counsel, or opinion about the benefits, advantages, or disadvantages of insurance policies. Considering that definition, which element is central to being an insurance consultant?
Question 25: Nevada requires an insurance consultant to be licensed, but it exempts certain professionals who act within their own field in a professional capacity. Considering that carve-out, which of the following is expressly exempt from the consultant licensing requirement?
Question 26: To keep insurance consulting independent, Nevada bars a licensed insurance consultant from certain financial ties. Considering the independence the statute protects, from whom may a consultant not receive remuneration arising out of the consultant's activities as a consultant?
Question 27: Nevada requires a person acting as a broker, manager, or other intermediary for reinsurance to be licensed. The statute also addresses the party that hires such an intermediary. Considering both sides of that arrangement, whom does the licensing duty bind under the statute?
Question 28: Nevada authorizes a person to act as an administrator, but it uses a particular term for the credential an administrator must hold, distinct from the term used for producers and for insurers. What credential must a Nevada administrator obtain in order to act as an administrator?
Question 29: A person acts as an administrator in Nevada without having obtained the required certificate of registration. Nevada law sets a fine for acting without that certificate, expressed as a range with both a floor and a ceiling. What is that fine range for acting without registration?
Question 30: In Nevada, a person solicits the sale of a prepaid funeral contract on behalf of a seller. Nevada law requires that person to hold a particular credential to conduct that solicitation. What must the person soliciting on the seller's behalf hold to do so lawfully?
Question 31: Nevada regulates persons who help consumers enroll in qualified health plans through the state exchange. The statute uses a particular term for the credential these facilitators must hold, distinct from a license. What credential must an exchange enrollment facilitator hold to act as one?
Question 32: Nevada's twisting statute prohibits misleading comparisons made to induce a person to lapse, surrender, exchange, or retain a policy. The statute is specific about the form such a prohibited statement may take. In what forms does the statute prohibit these misleading statements?
Question 33: Nevada's misrepresentation statute lists several prohibited false or misleading statements about insurance policies. One prohibition specifically concerns false statements about a participating policy's earnings that are distributed to policyowners over time as a share of surplus. Which statement does the statute prohibit as a misrepresentation?
Question 34: Nevada defines insurance fraud to require a certain mental state and to reach conduct on more than one side of the insurance relationship. Beyond the required knowing and willful intent, which conduct does the definition of insurance fraud reach under the statute?
Question 35: Nevada's fraud reporting statute identifies who must report information concerning insurance fraud. A common misconception is that only insurers carry this reporting duty, but the statute is broader. Under the statute, who is required to report information about insurance fraud?
Question 36: A Nevada insurer forms a reasonable suspicion that a loss it is investigating was caused by something other than an accidental or natural occurrence. Nevada law directs the insurer to make a written report of its reasons. To whom must the insurer report those reasons in writing?
Question 37: Nevada's defamation statute protects those engaged in the business of insurance from false or maliciously derogatory statements calculated to injure them. The statute extends its protection even to a party not yet actually an insurer. Which additional party does the statute expressly protect?
Question 38: Nevada regulation gives the Commissioner a formula for determining whether a licensee's fiduciary trust account is in deficit. In applying the formula, receivables that have aged beyond a certain point are counted against the account. Beyond how many days old are receivables factored into the deficit calculation?
Question 39: Nevada regulation addresses a licensee who receives a return premium that must be passed along to the person entitled to it. Failing to remit that return premium within a set time is treated as a violation of the fiduciary-money rules. Within how many days must the licensee remit a return premium?
Question 40: Nevada's commission statute restricts not only how commissions are paid but also what a licensee may accept. Considering the acceptance side of the rule, what does the statute provide regarding a commission to which the licensee is not entitled under the title?
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