NEVADA STATE LAW COMPREHENSIVE ANSWERS
AND QUESTIONS SET A+
✔✔Continuous care coverage - ✔✔When Worker's Compensation insurance is issued
jointly with a health insurance policy
✔✔Continuous care coverage producer - ✔✔- must be licensed as an accident/ health
insurance producer and a casualty insurance producer
- must receive approval from commissioner
-complete at least eight hours of approved instruction on Worker's Compensation and
employers liability insurance within six months
✔✔Casualty (contracts) insurance includes: - ✔✔CLEVER PIG BOWL
C- credit/ congenital defects
L- liability
E- elevator
V- vehicle
E- entertainment/ employers liability
R- robbery (theft)
P- personal property floaters
I- filler
G- glass
B- boiler
O - filler
W- workers comp
L- leakage/ livestock
✔✔Any insurer who transact insurance business without a certificate of authority is
guilty of a - ✔✔Misdemeanor
✔✔Certificate of authority is not required for an insurer ___ - ✔✔Who is transacting
surplus lines coverage or reinsurance
, ✔✔A licensing must inform the commissioner of ___ within 30 days after the change -
✔✔Each change in business or residence address
✔✔Commissioner - ✔✔Head of the state governments division of insurance. Is
responsible for enforcing Nevada insurance laws
✔✔Insurance code - ✔✔Nevada's insurance laws
✔✔The commissioner can impose a fine of ___ for each violation, if any person
intentionally engages in the unauthorized transaction of insurance - ✔✔Up to $10,000
✔✔Commission - ✔✔You cannot pay a commission to an unlicensed person who is
required to be licensed, but is not
✔✔Appointed as an agent - ✔✔A producer may not accept a commission unless that
producer is appointed as an agent of that insurer
✔✔Can you pay an unlicensed person for non-sales work as long as it isn't an illegal
bribe? - ✔✔YES
✔✔Can you pay renewal commission to a retired/ unlicensed person as long as they
were licensed when they sold the policy - ✔✔yes
✔✔Producers must complete ___ every three years - ✔✔30 hours of continuing
education courses, including three hours of ethics
✔✔Once you have worked in the insurance business for ___ you no longer have to do
CE training - ✔✔20 years
✔✔When two or more insures issue a single policy, the policy must be countersigned by
___ - ✔✔an appointed and licensed agent of anyone of the insurer
✔✔Defamation - ✔✔Public, oral or written statement that is false, maliciously, critical or
derogatory- with the intent to injure
✔✔Who is allowed to execute an emergency bond when a commissioned agent is not
present - ✔✔A person having authority under a power of attorney
✔✔Fiduciary - ✔✔A producer who handles the insurer funds in a trust capacity
✔✔Commingle premiums - ✔✔Mixing money in your own money
AND QUESTIONS SET A+
✔✔Continuous care coverage - ✔✔When Worker's Compensation insurance is issued
jointly with a health insurance policy
✔✔Continuous care coverage producer - ✔✔- must be licensed as an accident/ health
insurance producer and a casualty insurance producer
- must receive approval from commissioner
-complete at least eight hours of approved instruction on Worker's Compensation and
employers liability insurance within six months
✔✔Casualty (contracts) insurance includes: - ✔✔CLEVER PIG BOWL
C- credit/ congenital defects
L- liability
E- elevator
V- vehicle
E- entertainment/ employers liability
R- robbery (theft)
P- personal property floaters
I- filler
G- glass
B- boiler
O - filler
W- workers comp
L- leakage/ livestock
✔✔Any insurer who transact insurance business without a certificate of authority is
guilty of a - ✔✔Misdemeanor
✔✔Certificate of authority is not required for an insurer ___ - ✔✔Who is transacting
surplus lines coverage or reinsurance
, ✔✔A licensing must inform the commissioner of ___ within 30 days after the change -
✔✔Each change in business or residence address
✔✔Commissioner - ✔✔Head of the state governments division of insurance. Is
responsible for enforcing Nevada insurance laws
✔✔Insurance code - ✔✔Nevada's insurance laws
✔✔The commissioner can impose a fine of ___ for each violation, if any person
intentionally engages in the unauthorized transaction of insurance - ✔✔Up to $10,000
✔✔Commission - ✔✔You cannot pay a commission to an unlicensed person who is
required to be licensed, but is not
✔✔Appointed as an agent - ✔✔A producer may not accept a commission unless that
producer is appointed as an agent of that insurer
✔✔Can you pay an unlicensed person for non-sales work as long as it isn't an illegal
bribe? - ✔✔YES
✔✔Can you pay renewal commission to a retired/ unlicensed person as long as they
were licensed when they sold the policy - ✔✔yes
✔✔Producers must complete ___ every three years - ✔✔30 hours of continuing
education courses, including three hours of ethics
✔✔Once you have worked in the insurance business for ___ you no longer have to do
CE training - ✔✔20 years
✔✔When two or more insures issue a single policy, the policy must be countersigned by
___ - ✔✔an appointed and licensed agent of anyone of the insurer
✔✔Defamation - ✔✔Public, oral or written statement that is false, maliciously, critical or
derogatory- with the intent to injure
✔✔Who is allowed to execute an emergency bond when a commissioned agent is not
present - ✔✔A person having authority under a power of attorney
✔✔Fiduciary - ✔✔A producer who handles the insurer funds in a trust capacity
✔✔Commingle premiums - ✔✔Mixing money in your own money
