NPCI - Nevada Property and Casualty Insurance Exam

Question 21: The Nevada Administrative Code defines what counts as a course for satisfying the continuing education requirement, and the definition is fairly broad. Which of the following formats is expressly included within the regulatory definition of a continuing education course?

A self-study or correspondence course

Only a live classroom lecture

Only a full college degree

Only informal on-the-job training

Question 22: Nevada excuses a producer from the continuing education requirement if the producer holds and maintains one of several recognized professional designations. Which of the following is one of the designations that qualifies a producer for that continuing education exemption?

A high school diploma

The CPCU designation

A valid driver's license

A notary public commission

Question 23: The Nevada Insurance Code defines insurance fraud and specifies the mental state a person must have for the conduct to qualify as fraud. Under that statutory definition, what state of mind must a person act with for an act to constitute insurance fraud in Nevada?

Through mere carelessness

By simple honest mistake

Knowingly and willfully

With no intent required

Question 24: Nevada's twisting statute lists several things a person may be improperly induced to do with an insurance policy through a misleading comparison. Beyond lapse, surrender, and exchange, twisting also reaches inducing a person to do what with an existing policy?

Add a household driver

Report a covered claim

Increase the deductible amount

Retain the existing policy

Question 25: Nevada's misrepresentation statute prohibits making false or misleading statements about a number of different subjects connected with the sale of insurance. Which of the following misrepresentations does the statute expressly forbid a person from making to the public about insurance?

Misstating an insurer's financial condition

Correctly quoting a filed rate

Accurately describing a coverage

Providing a truthful policy summary

Question 26: Nevada's defamation statute shields certain persons in the insurance business from false or maliciously critical statements that are calculated to injure them. Beyond insurers already in operation, whom else does the statute expressly protect from such defamatory statements?

Only the Commissioner of Insurance

Only currently licensed adjusters

A person proposing to enter business

Only existing policyholders

Question 27: Nevada's misrepresentation and false advertising statute reaches several different kinds of communications that are used to promote or compare insurance policies. Which of the following communications does the statute cover when it carries a prohibited misrepresentation about insurance?

A daily weather forecast

A private personal diary entry

A household grocery list

An estimate, illustration, or sales presentation

Question 28: Nevada regulations set a formula for testing whether a licensee's fiduciary trust account is running a deficit, and the formula gives special treatment to aged receivables. In applying that formula, receivables of what age are added on the payable side of the deficit calculation?

Receivables less than ten days old

Receivables more than ninety days old

Receivables of every age equally

Only receivables under thirty days

Question 29: Nevada regulations require the signature card for a licensee's fiduciary trust account to include specific language addressing what happens if the licensee dies. Under the regulation, who becomes the successor trustee of that account upon the death of the licensee?

The executor or administrator of the estate

The Commissioner of Insurance directly

The insured named in a policy

The bank holding the account

Question 30: Nevada's fiduciary-money regulations define the term licensee for their own purposes to embrace several categories of persons whom the Commissioner licenses. Which of the following persons is included within that regulatory definition of a licensee for the fiduciary rules?

Only a consulting actuary

Only a licensed claims adjuster

A bail bondsman or an administrator

Only a rating organization

Question 31: The Nevada Insurance Code recognizes several distinct kinds of adjuster, each distinguished by whom the adjuster represents and by how the adjuster is engaged to work. Which of the following correctly lists the kinds of adjuster that Nevada law defines?

Field, home office, and remote

Junior, senior, and master

Primary, secondary, and excess

Independent, public, company, and staff

Question 32: The Nevada Insurance Code separates an independent adjuster from a company adjuster partly by how the adjuster is treated for federal income tax purposes. On what particular tax characteristic does independent adjuster status turn under current Nevada law?

Being treated as an independent contractor

Being exempt from all taxation

Filing income taxes in another state

Paying premium tax to the Division

Question 33: The Nevada Insurance Code addresses when a salaried employee of an insurer must nonetheless be licensed as an adjuster rather than treated as an ordinary employee. Under what circumstance is such a salaried employee required to hold an adjuster license?

When the employee files routine paperwork

When the employee answers customer phone calls

When the employee handles workers compensation claims

Never, under any circumstance at all

Question 34: Nevada sets a residency requirement that an applicant must meet before receiving a resident bail agent license. Under the Nevada Insurance Code, for how long must a resident bail agent applicant have been a resident of Nevada immediately preceding the application?

At least thirty days

At least one year

At least five years

No residency is required

Question 35: The Nevada Insurance Code defines a bail agent by reference to how the agent is authorized to act on behalf of a surety insurer in bail matters. How is a bail agent appointed to execute or countersign undertakings of bail under Nevada law?

Through a real estate broker referral

By election of local policyholders

By an order of the district court

By a surety insurer's power of attorney

Question 36: Nevada imposes several distinctive qualification requirements on an applicant for a bail enforcement agent license, reflecting the physical and mental demands of that role. Which of the following does Nevada law specifically require of a bail enforcement agent applicant?

A psychological examination by a licensed professional

A commercial pilot certificate

A resident real estate license

A medical doctor degree

Question 37: Among the qualifications for a bail enforcement agent, Nevada requires a controlled-substance test taken within a limited window before the application is filed. Within how long before the application must that controlled-substance test have been administered to the applicant?

No earlier than five years before

No earlier than one year before

No earlier than thirty days before

There is no time requirement

Question 38: Nevada requires a bail enforcement agent to complete a basic course of training before or during a temporary licensing period that precedes full licensure. Under the Nevada Insurance Code, what is the minimum length of that required basic training course?

No training is required

At least six hours

At least thirty hours

At least eighty hours

Question 39: Nevada requires certain bail licensees to maintain a bond while licensed, but it treats one bail licensee differently by not requiring that bond. Which licensee must maintain a bond, while the bail enforcement agent is notably not required to do so?

A bail agent

The bail enforcement agent alone

No bail licensee at all

The surety insurer's actuary

Question 40: Before a person may be licensed as a surplus lines broker in Nevada, the person generally must first hold a particular resident producer license for a minimum period of time. What prerequisite does the Nevada Insurance Code set for a surplus lines broker license?

A life producer license for ten years

A six-month general lines producer license

A public adjuster license for one year

No prior license of any kind

NPCI Nevada Property and Casualty Insurance Exam - Set 1 - Part 2