XCEL CHAPTER 12 - NEVADA LAWS AND ETHICS PERTINENT
XCEL CHAPTER 12 - NEVADA LAWS AND ETHICS PERTINENT
Exam (elaborations)
XCEL CHAPTER 12 - NEVADA LAWS AND ETHICS PERTINENT TO INSURANCE EXAM 2024/2025
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XCEL CHAPTER 12 - NEVADA LAWS AND ETHICS PERTINENT
Institution
XCEL CHAPTER 12 - NEVADA LAWS AND ETHICS PERTINENT
XCEL CHAPTER 12 - NEVADA LAWS AND ETHICS PERTINENT TO INSURANCE EXAM 2024/2025
An agent's license can be suspended or revoked by:
a) writing primarily controlled business
b) not meeting annual sales quota
c) replacing an existing insurance policy with a new one
d) issuing a binding...
XCEL CHAPTER 12 - NEVADA LAWS
AND ETHICS PERTINENT TO
INSURANCE EXAM 2024/2025
An agent's license can be suspended or revoked by:
a) writing primarily controlled business
b) not meeting annual sales quota
c) replacing an existing insurance policy with a new one
d) issuing a binding receipt - Precise Answer ✔✔a) writing primarily
controlled business
All of the following actions are considered rebating, EXCEPT:
a) sharing commissions with other licensed and appointed agents
b) refunding part of the premium as an inducement for purchase
c) offering special dividends
,d) offering anything of value not specified in the policy - Precise
Answer ✔✔a) sharing commissions with other licensed and appointed
agents
What is the fund that assures policyholders payment of death benefits on
Insurance Policies, if the company is insolvent at the time of the claim?
a) Health Insurance Portability and Accountability Act
b) Employees Retirement Income Security Act
c) National Association of Insurance Commissioners
d) Nevada Life and Health Insurance Guaranty Association - Precise
Answer ✔✔d) Nevada Life and Health Insurance Guaranty Association
All of these are a prerequisite for becoming a licensed agent, EXCEPT:
a) complete a prelicensing course
b) resident of Florida
c) be at least 18 years old
,d) graduate from high school - Precise Answer ✔✔d) graduate from
high school
According to Nevada insurance law, while transacting insurance
business, producers act as representatives of:
a) their own financial interest
b) the applicant or insured
c) the insurer - Precise Answer ✔✔c) the insurer
Circulation of any oral or written statement or any pamphlet, circular,
article, or literature that is false or maliciously critical of or derogatory
to the financial condition of an insurer is known as:
a) intimidation
b) defamation
c) boycott
d) discrimination - Precise Answer ✔✔b) defamation
Under which circumstance can a group life insurance policy be
converted to an individual policy?
, a) termination of employment
b) reinstatement of policy
c) amendment of certificate
d) elimination of premiums - Precise Answer ✔✔a) termination of
employment
An insurance producer may sell, solicit, or negotiate a contract of
insurance:
a) upon filing an application for licensure
b) upon passing the licensure examination
c) upon issuance of license
d) upon becoming an appointed producer of an insurer - Precise Answer
✔✔c) upon issuance of license
The misstatement of Age provision requires that if the age of the insured
is misstated, then any amount payable is:
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