Property and Casualty Insurance Nevada State Law Supplement (Well-enlightened)

A certificate of authority gives a(n) correct answers Company authority to transact insurance in Nevada A characteristic unique to surplus lines insurance is that it correct answers May be written with unauthorized insurers provided there are no authorized insurers selling that type of policy in Nevada The commissioner must examine authorized insurers at least one every correct answers 5 years Which of these insurance professionals investigates or settles claims for a fee or commission correct answers Adjuster A producer offers a prospective buyer a trip to Jamaica in order the persuade him to buy a policy. If the prospect purchases the policy and takes the trip, the producer will have committed which violation? correct answers Rebating An applicant for a producer license must correct answers Pass an examination unless exempt Would a person who works in an agent's office and advises the public about the benefits and terms of insurance policies be required to take and examination for a producers license? correct answers Yes Within how many days after receiving notice of a claim must insurers begin investigating the claim? correct answers 20 days A commissioner has the duties of correct answers A. Examining domestic insurers B. Enforcing insurance laws C. Authorizing insurers to transact business in Nevada Using misrepresentation to induce a policy owner to replace a policy is called correct answers Twisting Insurers may be classified according to the jurisdiction under which they are organized. The main classifications are correct answers Domestic, foreign, alien How long must a producer's records remain open to inspect by the commissioner? correct answers 3 years after the policy expires A policy that has been in effect for more than 70 days CANNOT be cancelled because of correct answers Insured has filed several small claims and the company does not wish to continue to provide coverage