Nevada Property and Casualty

A unique feature in a bailee form is that it covers
A. A loss that has no exclusions
B. The building occupied by the insured whether it is owned or leased
C. Customers property whether or not the insured has been negligent
D. Fire and theft losses to the

C

What is a certificate of insurance
A. Written document allowing the insured to inspect the insured's books
B. A written document showing to types and amounts of insurance that have been issued to the insured
C. A written document obligating the insured to

B

An insured intentionally did not disclose material fact on the application for insurance this would be considered
A. Coercion
B. Avoidance
C. Misrepresentation
D. Concealment

D

In a personal auto policy the term you refers to
A. Any person reading the policy
B. The insurer
C. The name insured
D. Any person injured in a covered accident

C

Terrorism risk insurance program reauthorization act of 2015 has extended the TRIA to the year
A. 2015
B. 2017
C. 2020
D. 2030

C

With respect to commercial auto policies the garage coverage form provide liability protection for all the following except
A. The insurance business income loss is due to personal injury
B. The insurance business premises
C. The insured's business autos

A

If an insured is in the process of moving to a new location his personal property coverage under the dwelling policy will apply on a pro rata basis on both locations for
A. 90 days
B. 5 days
C. 30 days
D. 60 days

C

Which of the following closet establishes the procedure for determining the amount of a loss when the insurer and the insured cannot agree on the value of property or amount of loss
A. Valuation clause
B. Loss Settlement clause
C. Appraisal clause
D. Loss

C

What type of damages may be awarded by the court to create disincentives that discourage behavior that is deemed a highly undesirable by society
A. General
B. Compensatory
C. Specific
D. Punitive

D

Professional liability coverage protects against liability resulting from
A. misrepresentation
B. unethical conduct
C. Errors and omissions
D. warranties

C

What term best describes the act of withholding material information that could be crucial to an underwriting decision
A. leading
B. breach of warranty
C. concealment
D. withholding

C

Which of the following liability exposures is most likely for a small specialty clothing retail boutique
A. completed operations liability exposure
B. premises liability exposure
C. operations liability exposure
D. product liability exposure

B

Franks steaks furnishes meat to steakhouses. An accident on the premises cause the building to lose refrigeration for 32 hours. The state inspectors will not allow the meat in the refrigerating units to be sold for human consumption and Frank loses $18,50

D

In forming an insurance contract when does except Ince usually occur
A. When an insurer delivers the policy
B. when an insurer receives an application
C. when an insurer submits an application
D. when insurers underwriting approved coverage

D

An insured's building has an actual cash value of $200,000 and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much were the policy pay?
A. $0
B. $30,000
C. $32,000
D. $40,000

B

Which of the following is not an element of negligence
A. Lible
B. duty
C. breach
D. unbroken chain

A

Valuable papers and records form provides coverage for the reconstruction of all the following types of records except
A. Historical records
B. prepackage software
C. blueprints
D. deeds

B

Which of the following is used in the formula for calculating the actual cash value of a property?
A. Stated value
B. fair market value
C. agreed value
D. replacement cost

D

The pro rata liability clause is designed to protect of the principle of
A. Insurable interest
B. Waiver and estoppel
C. Indemnity
D. Subrogation

C

A claim is considered to have been made
A. When I notice received and recorded by any insured or the insurer, whichever comes first
B. When received in writing or telephonically by the insurer
C. When notice is received by any insured
D. When notice is re

A

In the event of a claim under a comercial general liability policy the insured has all of the following duties to the insurer EXCEPT
A. Submitting to a medical exam when requested
B. Providing prompt written notice of any claim or suit actually filed agai

A

Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract?
A. Representation
B. Warranty
C. Concealment
D. Indemnity

B

The policy conditions define
A. How parties to the contract must act following a loss
B. The basic underwriting information
C. The excluded perils
D. The amount of coverage

A

In liability insurance policies, supplementary payments are made
A. At the option of the insurer
B. In addition to the limit of liability
C. As a part of the limit of liability
D. At the option of the insured

B

What is the deductible of a personal liability umbrella policy called?
A. The CPP
B. The SIR
C. The PIL
D. The CGL

B

An insureds accounts receivable records have been damaged. The loss may be covered with
A. Commercial property insurance.
B. The commercial articles coverage form.
C. The valuable papers coverage form
D. The accounts receivable coverage form

D

Toms truck services vehicle is stolen. The policyholders may obtain coverage for transportation expenses subject to which of the following limits?
A. $25 per day; $450 maximum
B. $20 per day; $600 maximum
C. $15 per day; $300 maximum
D. $15 per day; $450

B

Replacement cost is defined as
A. The market value of like kind and quality
B. Full replacement of property with like kind and quality, less an allowance for physical deterioration and depreciation.
C. Payment of full policy limits in the event of a loss

D

An applicant is purchasing a homeowners policy a producer comes to her home fills out the paperwork and tells the applicant that her home will be covered as soon as she signs all of the paperwork and that she will receive a new policy in the mail in five

B

Property insurance policy that is not subject to any coinsurance requirements but has a set amount of insurance schedule for the property would use white loss evaluation method?
A. Reproduction cost
B. Stated amount
C. Actual cash value
D. Replacement cos

B

Which of the following is most likely to occur if it is determined by the audit that the deposit premium was too high?
A. Nothing the premium cannot be adjusted
B. The insured will receive a return premium
C. Additional premium will be collected
D. The in

B

Part of the policy that sets forth the rules of conduct duties and obligations of the parties is called the
A. Exclusions
B. Declarations
C. Insuring clause
D. Conditions

D

All of the following are true regarding physical damage coverage except
A. The policy will pay up to $20 per day up to a maximum of $600 for rental transportation
B. The insurer will pay for direct and accidental loss to the covered auto minus any applica

C

All of the following statements are false regarding garage physical damage coverage except
A. No coverage is provided for any auto stored more than 45 days at a location not shown in the declarations
B. Collision coverage is provided for dealers
C. Auto's

A

A policy condition that stipulates how the amount of damaged or lost property will be determined if the insured and the principal do not agree is known as
A. Coinsurance
B. Loss valuation
C. Loss payment
D. Appraisal

D

A bond is written for a set limit and the surety will be liable only for this amount of the limit. The limit is known as the
A. Face value
B. Stated amount
C. Limit of liability
D. Penalty

D

All of the following statements describes the concept of strict liability except
A. Claimants may need to provide proof that the product defect caused an injury
B. It is imposed regardless of fault
C. It is applied in product liability cases
D. It is impo

D

Johanna purchased the national flood insurance policy 10 days after community entered an emergency program. When would her coverage be effective
A. Five days after the application and premium payment are mailed
B. 12:01 AM the day after the application an

B

A policy condition that states if the policy is broadened with no additional premium then the expanded coverage will be automatically apply to all policies of the same type is known as
A. Maximum indemnity clause
B. The loss control clause
C. Limit of ins

D

A sworn written statement that must be furnished by the insured to the insurer before any loss under a policy can be paid is called
A. Binder
B. Proof of loss
C. Notice of claim
D. Claim report

B

If the actual values exceed the limit of insurance the business owners policy contains a seasonal increase provision that automatically increases the limit of insurance for business personal property by
A. 10%
B. 25%
C. 30%
D. 50%

B

In the event of a loss covered by the policy if the insured request a signed sworn proof of loss the named insured is required to submit within
A. One year
B. Five business days
C. 30 days
D. Specified time

D

An insured is driving her car through a residential area when she loses control and crashes into a neighbors front porch. The neighbor, who was sitting on the porch, is injured. The insurance liability policy has a limit of $500,000. This amount applies t

C

Which of the following is considered a work related injury/compensational disease under Worker's Compensation law?
A. Mike works for Ace construction company. He is walking through the job site without a hardhat and struck on the head by a falling brick
B

B

A used car dealer takes a car in trade as partial payment for a car on its lot. The customer promises to bring in the cars title but does not. Another customer takes the trade in for a test drive and has an accident. In regard to the dealerships business

C

If an insured has an umbrella liability policy in addition to his personal auto policy which would be considered the underlying policy?
A. General liability policy
B. Auto policy
C. umbrella policy
D. Excess policy

B

Which of the following protects consumers against the circulation of an accurate or obsolete personal or financial information
A. Consumer privacy act
B. The fair credit reporting act
C. Unfair trade practices law
D. The guaranty Association

B

For the purpose of insurance, risk is defined as
A. The certainty of loss
B. The cause of loss
C. The event that increases the amount of loss
D. The uncertainty or chance of loss

D

A liability policy that provides coverage for a claim for injury or damage if the claim is first reported or filed against the insured during the policy period is called
A. Bodily injury/property damage form
B. Occurrence form
C. Premises coverage
D. Clai

D

Under the additional coverages of business owners policy property removed to protect it from loss will be covered at another location for up to
A. 10 days
B. 14 days
C. 30 days
D. 45 days

C

Both the broad theft and limited theft endorsements on the dwelling program exclude all of the following types of property except
A. Aircraft
B. Watercraft
C. Credit cards
D. Motor vehicles license for the road

B

A start up used car dealership buys cars at auto auctions in 30 states. It wants to be certain that damage coverage is provided when the cars are driven or transported from the auctions to the dealership. In regard to the business auto physical damage cov

D

The removal coverage included in the broad form dwelling policy will cover property temporarily removed from the premises to protect it from damage for how long
A. Five days
B. 15 days
C. 30 days
D. 60 days

C

Which of the following types of property valuation will the policy pay the full value as specified on the policy schedule regardless of the insurance property appreciation or depreciation
A. Replacement cost
B. Stated amount
C. Market value
D. Agreed valu

D

The legal process that gives the insurer after payment of loss the right to seek recovery from a third-party that was responsible for the loss is known as
A. Right of rescission
B. principle of indemnity
C. Subrogation
D. Adverse selection

C

A situation in which a person can only lose or have no change represents
A. Speculative risk
B. Adverse selection
C. Hazard
D. Pure risk

D

And insured hits a deer and crashes his car into a tree. The total damage to the vehicle is $6000. How will this loss be covered?
A. This would not be a cover a boss
B. $6000 would be paid under other than collision coverage
C. $3000 will be paid under ot

B

What insurance policy provision defines how the policy will respond if there is more than one insurance policy written on the same risk?
A. Primary and excess
B. Other insurance
C. Valid insurance
D. Non-concurrency

B

The insured has violated the contract without the knowledge of the mortgage holder. After a loss
A. The insured cannot collect but the mortgage holder will still be paid
B. Neither the insured nor the mortgage holder will be paid
C. Both the insured and m

A

Representations are written or oral statements made by the applicant that are
A. Immaterial to the actual except ability of the insurance contract
B. considered true to the best of the applicants knowledge
C. Guaranteed to be true
D. Found to be false aft

B

And insured has four separate but identical policies written by different insurers to cover her $100,000 building. Each policy has room is written for $100,000 and each has the pro rata liability other insurance clause. In the event of a total loss to the

C

What do individuals use to transfer the risk of loss to a larger group
A. Insurable interest
B. Exposure
C. Indemnity
D. Insurance

D

Most fidelity bonds have a period of time in which losses which occurred while the bond was in force are covered even though not found until after the coverage has terminated. This is known as
A. Retro period
B. A look back period
C. Discovery period
D. I

C

All of the following are additional causes of loss included in the broad form of a commercial property policy except
A. Water damage
B. Replacement cost
C. Falling objects
D. Weight of ice, snow, or sleet

B

And additional loss that results from a direct loss of property is called a/an
A. Indirect loss
B. Proximate losa
C. Liability loss
D. Punitive loss

A

What is a material misrepresentation
A. Any misstatement by the producer
B. Concealment
C. A statement by the applicant that upon discovery would affect the underwriting decision the insurance company
D. Any misstatement made by an applicant for insurance

C

An applicant knowingly fails to communicate information that would help an underwriter make a sound decision regarding coverage. This is an example of
A. Breach of warranty
B. Concealment
C. Waiver
D. Fraud

B

A home is insured under an HO-2 policy. The homeowner decides to replace the roof on the house he hasn't able to complete the roof in one day and left a portion of it unfinished overnight. A heavy rainstorm caused $20,000 of damage to the interior of the

B

For the reported losses of any insured group to become more likely to equal the statistical probability of loss for that particular class, the insured group must become
A. More active
B. Larger
C. Smaller
D. Older

B

Which of the following statements is true concerning the special form dwelling policy
A. Coverage A is for all risk perils, and coverage C is for broad form perils
B. Coverage A and coverage Care provided on all risk basis
C. Both coverage A and coverage

A

The other insurance provision that limits the liability of the insurer to a portion of the loss not greater than the amount the insurer bears to all the insurance covering the property is called
A. Excess
B. Pro rata liability
C. Contributing
D. Proportio

B

A dealership loans a car to its customer to use while the dealership is repairing the customers car. If the dealership has business auto physical damage coverage and the customers automobile insurance does not cover damages to loaner cars, which of the fo

C

Which of the following terms best describes the trembling or shaking of the earth that is volcanic or seismic in origin?
A. Earthquake
B. Tectonic shift
C. Tsunami
D. Geo tectonic inversion

A

The reduction decrease or disappearance of value of the person or property insured in a policy by a peril insured against is known as
A. Hazard
B. Risk
C. Loss
D. Exposure

C

The insured with the homeowners policy has had damage to his property caused by a volcano which of the following is true
A. Coverage for each volcanic irruption would require separate deductible
B. All volcanic eruptions with in 72 hour. Will be considere

B

Which of the following types of valuation works best for property whose value does not fluctuate much
A. Inflation guard
B. Agreed value
C. Market value
D. Stated amount

B

Who are the parties to a bond?
A. Printable - obligee - surety
B. Obligee - surety - obligation
C. Principal - obligor
D. Principle - obligee - surety - obligation

A

Because insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following elements except
A. Legal purpose
B. Offer and acceptance
C. Conditions
D. Consideration

C

Before an insurer pay any loss under a policy, what is usually required from the insured
A. A claims made form
B. Proof of loss
C. Notice of claim
D. A binder

B

A proof of loss statement must be
A. In oral statement
B. In writing
C. Both oral and writing
D. In a video tape format

B

An insurance business is damaged because of a fire, and he is forced to close the business temporarily for repairs. As a result, the insured lost income. What type of loss is this?
A. Consequential
B. Direct
C. Special
D. Additional

A

A customer was injured in the supermarket parking lot when a grocery cart collided with the customers leg. Coverage for this claim would be provided under
A. Contractual liability
B. Product liability
C. Premises and operations
D. Completed operations

C

The extension of coverage under the commercial fine arts floater includes coverage for newly acquired property for a maximum of
A. $20,000
B. $5000
C. $10,000
D. $15,000

C

Directors and officers liability insurance defendse actions against the corporation or its officers and directors alleging wrongful acts. With regard to the coverage provided, wrongful acts include any of the following except
A. Embezzlement
B. Misstateme

A

A commercial package policy allows the insured to select the coverage needed and customize the policy to meet needs of the insured's business. In a CPP, the business owner may select from all the following types of coverage except
A. Worker's Compensation

A

The transfer of an insured right to seek damages from negligent party to the insurer is found in which of the following clauses
A. Subrogation
B. Arbitration
C. Salvage
D. Appraisal

A

When a disagreement occurs as to how to settle a loss in a fender bender between two cars, what procedure is followed?
A. A lawsuit is fine
B. Appeal to a DOI
C. The adjuster's first opinion must be excepted
D. Arbitration through the court

D

Which of the following is a mandatory part of an insurance policy that varies with each individual policy
A. Declarations
B. Conditions
C. Exclusions
D. Insuring agreement

A

Which of the following liability policies is usually written on a claims made form?
A. Umbrella Liability
B. Professional liability insurance
C. Automobile liability
D. Personal liability

B

The physicians and surgeons equipment floater is not intended for which of the following?
A. Waiting room furniture in a doctors office
B. Office equipment located in a dentist office
C. Medical supplies located in a hospital
D. Surgeon supply is located

C

All of the following are parables covered under the bride form dwelling policy except
A. Theft
B. Fire
C. Lightning
D. Collapse

A

Burglary is defined as
A. Taking a property from the care of a person in a violent act
B. Any act of stealing
C. Taking of property by use of force violence or fear
D. Taking of property from within the premises leaving visible signs of forced entry

D

Which of the following best expresses the purpose of a stated value contract
A. The pre-establish the amount of coverage available for property items that are difficult to value
B. To ensure that the principle of indemnification applies
C. To establish th

A

And insured owns a building that is valued at $400,000. To comply with the 80% coinsurance provision of his insurance policy, how much should he ensure the property for
A. 100% of the market value
B. $400,000
C. $32,000
D. 80% of the properties replacemen

D

A BOP business owner policy is most similar to
A. Cargo
B. Homeowners
C. Auto
D. Umbrella

B

The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks
A. Nothing
B. The difference in the actual cash value as a pair and as a single
C. The replacement cost of the pair
D. Actual cash value

B

What term includes damage where the insured parol was the proximate cost of a loss?
A. Negligent loss
B. Direct loss
C. Indirect loss
D. Consequential loss

B

For a contract to be enforceable by law the purpose of the contract must be
A. For the benefit of the general public
B. Of pure intent
C. Legal and not against public policy
D. For financial gain

C

Coverage for medical payments under personal auto policy applies to expenses following the cupboard accident that are incurred and services rendered within what maximum period?
A. 90 days
B. One year
C. Three years
D. Five years

C

Which of the following coverage is included in an unendorsed homeowners policy
A. Personal property replacement coverage
B. Fungi wet or dry rot or bacteria
C. Earthquake
D. Medical payments to others

D

While cutting grass in your yard with your brothers borrow the lawnmower the fuel line ruptures and the lawnmower is destroyed in the fire how will your HO liability react?
A. It will pay your brothers property insurance deductible
B. Your HO liability an

C

Insurable interest in the property covered in a policy must be proven
A. When I claim is made
B. At the time of application
C. At the time of loss
D. When the beneficiary is changed

C

To perform on a customers car, a mechanic in an auto shop had to put the vehicle on a service hoist. The hoist collapsed, damaging the vehicle and injuring the mechanic. In regard to the garage coverage form which of the following statements is true?
A. N

A

Which of the following would not be considered a source of insurability information by An insurer?
A. The applicants marital status
B. The interviews with the applicants neighbors and friends
C. Motor vehicle records
D. Insurance history

A

In a dwelling policy, which of the following provides coverage for additional living expenses incurred by an owner - Occupant in the event a covered peril makes the premises uninhabitable due to a covered loss?
A. Coverage E
B. Coverage A
C. Coverage B
D.

A

Insurance is a contract by which won six to protect another from
A. Hazards
B. Loss
C. Exposure
D. Uncertainty

B

Uncle Billy is Burger bar was forced to close for 10 days in August when the power companies transformer was destroyed by the lightning, and uncle Billy was without electricity. Which of the following endorsements could be added to Billy's business owners

C

When does the coverage begin under a builders risk form?
A. On the date the premium is paid
B. On the day the construction starts
C. On the date the policy is issued
D. On the date the policy is a liberal

B

What type of insurance policy insurance against all risks of laws that are not specifically excluded by the policy?
A. Binder policy
B. Named peril policy
C. Open peril policy
D. Specified peril policy

C

When a vehicle travels from one state to another, what happens to the limits of policy liability a personal auto policy
A. They do not apply
B. They increase based on state law
C. They decrease based on state law
D. They do not change

D

What type of liability with the person that owns a swimming pool have?
A. Implied
B. Direct
C. Absolute
D. Vicarious

C

An insured stated on her application for life insurance that she had never had a heart attack, when in fact she had a series of heart attacks last year for which she sought medical attention. Which of the following will explain the reason a death benefit

D

The regular National Flood Insurance Program would insure an eligible single-family dwelling for up to
a) $250,000.
b) $100,000.
c) $150,000.
d) $200,000.

A

Which of the following may be covered by electronic data processing coverage form under an inland marine policy?
A. Computer hardware that is specifically scheduled
B. Extra expenses the insured encouraged to continue the business following a loss.
C. Dat

D

In case of loss the end definitely provision in insurance policies
A. Pays the insured as much is 95% of the loss
B. Restores and insured person to the same financial status before
C. Allows insured to collect 20% more than the actual loss
D. Paisley and

B

The policy provision found a property insurance policies that prevents the insured from collecting twice for the same laws is called
A. Consent to settle loss
B. Right of salvage
C. Appraisal
D. Subrogation

D

And insured on several buildings each at a different location and insured on a separate policy. What type of coverage does the insured have?
A. Schedule
B. Blanket
C. Special
D. Specific

D

In insurance, an offer is usually made when
a) The agent hands the policy to the policyholder.
b) An agent explains a policy to a potential applicant.
c) The completed application is submitted.
d) The insurer approves the application and receives the init

C

A grave marker Was damaged by vandals. It would cost $3000 to have the damage repaired. Under these circumstances how much would a homeowners policy pay?
A. $3000
B. Zero dollars
C. $500
D. $1000

A

The type of insurance used to cover goods for one specific trip is called
A. Motor truck cargo policy
B. Trip transit
C. Commercial property
D. Bailee policy

B

Losses caused by continuous or repeated exposure to conditions resulting in injury persons or damage to property that is neither intended nor expected is the definition of which of the following terms?
a) Hazard
b) Accident
c) Occurrence
d) Peril

C

How are surety bonds different from insurance?
A. Surety bonds are issued by the government, insurance issued by private company
B. Surety bonds guarantee specific duties or obligations will be for filled, insurance pays for losses
C. Insurance guarantee

B

I need advertisement, a company claims that he has funds on its possession that are, in fact, not available for the payment of losses or claims. The company is guilty of
A. Unfair claim practice
B. rebating
C. misrepresentation
D. concealment

C

Which of the following would not be considered a misrepresentation on the part of the insurer?
A. Embellishing the benefits provided by the policy
B. overstating returns on a policy dividends
C. backdating policies to secure a lower premium for the insure

C

Every Insurance Administrator must file a surety bond with the Commissioner which is written for an amount of at least
a) $100,000.
b) $25,000.
c) $50,000.
d) $75,000.

A

Every owner of a motor vehicle registered in Nevada must continuously provide
a) Annual dues to the Essential Insurance Association.
b) Proof of financial responsibility.
c) Evidence of insurability.
d) A means of paying for damages in the event of accide

B

In workers compensation insurance, the employer agrees to provide medical expenses and lost wages to injured workers. They injured worker agrees that this will be the only compensation site. What does the employee give up in this situation?
A. The right t

B

which of the following statements is false regarding motor vehicle physical damage appraisers
A. They must post a bond of $2500 in favor of the people of the state of Nevada.
B. They investigate claims of physical damage to insured motor vehicles.
C. They

C

A policy that is issued to replace a binder must include
a) Limits of coverage that are less than the limits of the binder.
b) An effective date that is the same as the expiration date of the binder.
c) Limits of coverage that are equal to the limits stat

C

After the first 3 years of being a self-insurer, an employer must maintain a net worth of at least
a) Twice the average claims paid for the previous year or $2,500,000 - whichever is greater.
b) 5 times the average claims paid for the previous year or $7,

B

In Nevada, how long must producers keep records of insurance transactions under their license?
a) 3 years after a policy expires
b) 5 years after a policy is issued
c) 1 year after the Commissioner's examination
d) 2 years.

A

All contracts of property insurance covering subjects located in Nevada are subject to the applicable provisions of
a) The Nevada Commission of Property Insurance.
b) The Insurance Code.
c) The Commissioner.
d) The insurer.

B

In life insurance, agents are permitted to share or split commissions, provided that
a) Both are properly licensed for the line of insurance.
b) The insured knows and agrees to the arrangement.
c) The Division of Insurance knows of the arrangement.
d) The

A

Should any person willfully engage in an unauthorized insurance transaction, the Commissioner may impose an administrative fine or penalty of up to
a) $10,000 for each and every act.
b) $5,000 for all acts.
c) $5,000 for each and every act.
d) $10,000 for

A

The Commissioner must give reasonable notice to all interested parties as to the time, place and purpose of a hearing within the minimum of how many days of the hearing?
a) 10 days
b) 15 days
c) 20 days
d) 30 days

C

Who approves the form that states who may be excluded from a policy's coverage?
a) The State Regulatory Board of Insurance
b) The Commissioner
c) The insurer
d) The insured

B

If an insurance company makes a statement that its policies are guaranteed by the existence of the Insurance Guaranty Association, that would be considered
a) A required disclosure.
b) A legal representation of the Association.
c) An unfair trade practice

C

Which of the following will NOT be considered unfair discrimination by insurers?
a) Discriminating in benefits and coverages based on the insured's habits and lifestyle
b) Charging applicants with similar health histories different premiums based on their

A

The Inland Marine policies available after property is sold to the ultimate purchaser are musical instrument dealers, camera dealers, furrier dealers, and
a) Signs.
b) Equipment dealers.
c) Installation floaters.
d) Jewelers blocks.

B

If a person is charged with a category D felony for committing insurance fraud, what would be the maximum time of imprisonment?
a) Up to 10 years
b) 1 year
c) 4 years
d) 6 months

C

Each licensed motor vehicle physical damage appraiser must obtain a surety bond in favor of the people of the State of Nevada and conditioned for the faithful performance of required duties in the amount of
a) $3,500.
b) $2,500.
c) $1,000.
d) $5,200.

B

Which of the following actions by an insurance company will cause an examination by the Commissioner?
a) Decrease in premium rates charged for coverage.
b) Change of an insurance policy form.
c) Increase in premium rates charged for coverage.
d) Applicati

D

Insurance companies transacting automobile insurance in Nevada must offer uninsured and underinsured motorist coverage that equals.
A. The insurance coverage limits for property damage.
B. The insurance coverage limits for bodily injury.
C. The insurance

B

The Nevada insurance guaranty Association has a legal right to damage from third parties after having reimbursed the insured for the loss. This is known as
A. Fiduciary right.
B. Indemnity.
C. Subrogation.
D. Rebating.

C

A state issued document empowering insurance company to write contracts of insurance and perform certain business within that state is called
A. Certificate of deposit.
B. Certificate of convenience.
C. Certificate of authority.
D. Certificate of title.

C

Which of the following would be required to be licensed as an insurance producer?
A. And insurance company director who performs executive, administrative and managerial duties.
B. A salaried employee who advertises and solicits insurance.
C. A person who

B

Which of the following licensees or not compensated directly related to the amount of insurance sold?
A. Insurance agent.
B. Insurance broker.
C. Insurance consultant.
D. Insurance company.

C

How soon after receiving a statement of changes for completed repairs must ensure issue a check payable to the garage or jointly to the insert and the garage
A. Within two weeks.
B. Within 30 days.
C. Within 60 days.
D. Within 24 hours.

B

According to the sole remedy provision in Worker's Compensation insurance, the rights and remedies provided for an employee injured in the course of employment must be
A. Unique for each employee.
B. The same as all of the rights and remedies.
C. Exclusiv

C