Nevada (NV) Collection Agency Manager Exam |
2025/2026 Latest Edition | 100 Verified Questions
with Correct Answers | Graded A+
The Nevada Collection Agency Manager Exam (2025/2026 edition) resource is
designed to equip candidates for the state licensing exam, which typically includes 100–150
questions. This comprehensive package provides 100 verified, exam-based questions with 100%
correct answers, ensuring complete alignment with Nevada Revised Statutes (NRS), Nevada
Administrative Code (NAC), and Division of Financial Institutions (DFI) regulations related to
collection agencies.
Key Topics Covered
✔ Nevada laws and regulations governing collection practices (NRS/NAC)
✔ Licensing and bonding requirements for collection agencies
✔ Recordkeeping, reporting, and financial compliance
✔ Fair Debt Collection Practices Act (FDCPA) and consumer rights
✔ Ethical standards and prohibited practices
✔ Managerial responsibilities, supervision, and accountability
Overview
This resource provides a robust set of 100 exam-based questions with verified correct
answers, covering the full scope of the Nevada Collection Agency Manager Exam. Rated A+ for
accuracy, this package ensures candidates are well-prepared for state compliance and
professional competency, aligning with the exam’s typical format of 100–150 multiple-choice
questions administered by the Nevada Division of Financial Institutions (DFI).
Answer Format
All correct answers are highlighted in bold green, with rationales included to reinforce
knowledge of Nevada laws, ethical standards, and best practices in debt collection management.
Exam Questions
Nevada Laws and Regulations Governing Collection Practices
(NRS/NAC)
1. What is the primary Nevada statute regulating collection agencies?
A. NRS Chapter 648
B. NRS Chapter 649
C. NRS Chapter 645
D. NRS Chapter 86
, Rationale: NRS Chapter 649 governs collection agencies, outlining licensing,
operations, and consumer protections.
2. Under NRS 649.315, what must a collection agency do before initiating legal
action?
A. File immediately
B. Send a 30-day written notice
C. Call the debtor
D. No notice required
Rationale: NRS 649.315 mandates a 30-day written notice to allow debtors to pay or
dispute.
3. What does NAC 649.400 require for record retention?
A. 1 year
B. 3 years
C. 5 years
D. No retention
Rationale: NAC 649.400 requires retaining records of accounts and communications
for 3 years for audits.
4. What is prohibited under NRS 649.370 for collection calls?
A. Calling during business hours
B. Calling before 8 a.m. or after 9 p.m.
C. Leaving voicemails
D. Using automated dialers
Rationale: NRS 649.370 restricts calls to 8 a.m.–9 p.m. to prevent harassment.
5. What is the bonding requirement for a collection agency in Nevada?
A. No bond needed
B. $100,000 surety bond
C. $10,000 bond
D. $50,000 bond
Rationale: NRS 649.260 requires a $100,000 surety bond to protect consumers.
6. What is a prohibited practice under NRS 649.320?
A. Documenting calls
B. Using obscene or profane language
C. Sending notices
D. Verifying debts
Rationale: NRS 649.320 prohibits abusive language to ensure ethical conduct.
7. What is required under NAC 649.430 for collection communications?
A. Unlimited calls
B. No calls on Sundays or holidays
C. No restrictions
, D. Ignore debtor preferences
Rationale: NAC 649.430 limits calls to weekdays for consumer protection.
8. What does NRS 649.350 prohibit in debt collection?
A. Sending letters
B. Threatening legal action without intent
C. Verifying debts
D. Contacting debtors
Rationale: NRS 649.350 prohibits false threats to mislead debtors.
9. What is a requirement for collection agency names under NRS 649.375?
A. Any name allowed
B. No misleading or government-implying names
C. Must imply government affiliation
D. No registration needed
Rationale: Names must not mislead or suggest government ties.
10.What is the purpose of NRS 649.435?
A. Allow harassment
B. Prohibit unfair practices
C. No purpose
D. Ignore complaints
Rationale: NRS 649.435 ensures fair and ethical debt collection.
Licensing and Bonding Requirements
11.Who issues collection agency licenses in Nevada?
A. Nevada Secretary of State
B. Division of Financial Institutions (DFI)
C. Nevada Gaming Control Board
D. Local counties
Rationale: The DFI oversees licensing under NRS Chapter 649.
12.What is the minimum net worth requirement for a collection agency?
A. $10,000
B. $25,000
C. $50,000
D. $100,000
Rationale: NRS 649.240 requires a minimum net worth of $25,000.
13.What is required for a branch office license?
A. No license needed
B. Separate license for each branch
C. One license for all branches
2025/2026 Latest Edition | 100 Verified Questions
with Correct Answers | Graded A+
The Nevada Collection Agency Manager Exam (2025/2026 edition) resource is
designed to equip candidates for the state licensing exam, which typically includes 100–150
questions. This comprehensive package provides 100 verified, exam-based questions with 100%
correct answers, ensuring complete alignment with Nevada Revised Statutes (NRS), Nevada
Administrative Code (NAC), and Division of Financial Institutions (DFI) regulations related to
collection agencies.
Key Topics Covered
✔ Nevada laws and regulations governing collection practices (NRS/NAC)
✔ Licensing and bonding requirements for collection agencies
✔ Recordkeeping, reporting, and financial compliance
✔ Fair Debt Collection Practices Act (FDCPA) and consumer rights
✔ Ethical standards and prohibited practices
✔ Managerial responsibilities, supervision, and accountability
Overview
This resource provides a robust set of 100 exam-based questions with verified correct
answers, covering the full scope of the Nevada Collection Agency Manager Exam. Rated A+ for
accuracy, this package ensures candidates are well-prepared for state compliance and
professional competency, aligning with the exam’s typical format of 100–150 multiple-choice
questions administered by the Nevada Division of Financial Institutions (DFI).
Answer Format
All correct answers are highlighted in bold green, with rationales included to reinforce
knowledge of Nevada laws, ethical standards, and best practices in debt collection management.
Exam Questions
Nevada Laws and Regulations Governing Collection Practices
(NRS/NAC)
1. What is the primary Nevada statute regulating collection agencies?
A. NRS Chapter 648
B. NRS Chapter 649
C. NRS Chapter 645
D. NRS Chapter 86
, Rationale: NRS Chapter 649 governs collection agencies, outlining licensing,
operations, and consumer protections.
2. Under NRS 649.315, what must a collection agency do before initiating legal
action?
A. File immediately
B. Send a 30-day written notice
C. Call the debtor
D. No notice required
Rationale: NRS 649.315 mandates a 30-day written notice to allow debtors to pay or
dispute.
3. What does NAC 649.400 require for record retention?
A. 1 year
B. 3 years
C. 5 years
D. No retention
Rationale: NAC 649.400 requires retaining records of accounts and communications
for 3 years for audits.
4. What is prohibited under NRS 649.370 for collection calls?
A. Calling during business hours
B. Calling before 8 a.m. or after 9 p.m.
C. Leaving voicemails
D. Using automated dialers
Rationale: NRS 649.370 restricts calls to 8 a.m.–9 p.m. to prevent harassment.
5. What is the bonding requirement for a collection agency in Nevada?
A. No bond needed
B. $100,000 surety bond
C. $10,000 bond
D. $50,000 bond
Rationale: NRS 649.260 requires a $100,000 surety bond to protect consumers.
6. What is a prohibited practice under NRS 649.320?
A. Documenting calls
B. Using obscene or profane language
C. Sending notices
D. Verifying debts
Rationale: NRS 649.320 prohibits abusive language to ensure ethical conduct.
7. What is required under NAC 649.430 for collection communications?
A. Unlimited calls
B. No calls on Sundays or holidays
C. No restrictions
, D. Ignore debtor preferences
Rationale: NAC 649.430 limits calls to weekdays for consumer protection.
8. What does NRS 649.350 prohibit in debt collection?
A. Sending letters
B. Threatening legal action without intent
C. Verifying debts
D. Contacting debtors
Rationale: NRS 649.350 prohibits false threats to mislead debtors.
9. What is a requirement for collection agency names under NRS 649.375?
A. Any name allowed
B. No misleading or government-implying names
C. Must imply government affiliation
D. No registration needed
Rationale: Names must not mislead or suggest government ties.
10.What is the purpose of NRS 649.435?
A. Allow harassment
B. Prohibit unfair practices
C. No purpose
D. Ignore complaints
Rationale: NRS 649.435 ensures fair and ethical debt collection.
Licensing and Bonding Requirements
11.Who issues collection agency licenses in Nevada?
A. Nevada Secretary of State
B. Division of Financial Institutions (DFI)
C. Nevada Gaming Control Board
D. Local counties
Rationale: The DFI oversees licensing under NRS Chapter 649.
12.What is the minimum net worth requirement for a collection agency?
A. $10,000
B. $25,000
C. $50,000
D. $100,000
Rationale: NRS 649.240 requires a minimum net worth of $25,000.
13.What is required for a branch office license?
A. No license needed
B. Separate license for each branch
C. One license for all branches
