Neb state law
In addition to license revocation, any person violating insurance regulation may, after a hearing, be subject to an administrative fine of not more than $______ per violation.
$1,000
The Nebraska Property and Liability Insurance Guaranty Association is obligated to pay covered claims up to $_________.
$300,000
In Nebraska, disciplinary proceedings may not be instituted against any person _____ years after their license has been terminated.
3
An insurer that terminates the appointment of an insurance producer for any reason must notify the Director within _____ days following the effective date of the termination.
30
Any person failing to provide a change of legal address within __________ days may be subject to a fine by the Director of Insurance of up to $500 per violation.
30
In Nebraska, when an applicant requests a hearing after their license is nonrenewed, the hearing must be held within ___ days
30
Producers must report to the Director any criminal prosecution taken against them in any jurisdiction within __________ days of the date of arraignment.
30
Under the Nebraska Workers' Compensation Act, partial disability compensation will be paid for up to:
300 weeks
According to state law, an insurance consultant must retain a copy of the written contract for service for at least ______ years after the completion of the services.
5
If the reason for cancelling an auto policy is not included in the notice, the insured can request to be informed of the reason. The insurer must then deliver the reason within ___ days
5
The Director of Insurance must conduct an examination of every domestic insurer at least once every _____ years.
5
Under the Nebraska's Workers' Compensation Plan, assignments may not exceed ___ years
5
Applicants to the Nebraska Automobile Insurance Plan must demonstrate that they have attempted to secure insurance in the standard auto markets in the ______ days prior to their application to the Plan.
60
In Nebraska, insurers must give _____ days' notice for nonrenewal of a property policy.
60
Under the Nebraska Workers' Compensation Act, no compensation will be allowed for the first _____ days of disability.
7
If an auto policy providing bodily injury and property damage liability coverage is cancelled, the insurer must notify the named insured of their possible eligibility for coverage through:
An affiliated insurer or the Nebraska Automobile Insurance Plan
How does the Director of Insurance enforce and execute all of the insurance laws of this state?
By making the rules and regulations for carrying out the business of insurance in Nebraska
No insurance company will transact any insurance business in this state unless it has received a ___________ from the Department of Insurance to do so.
Certificate of authority
The general duties and powers of the Director include all of the following, except: Collecting commissions from insurers Issue subpoenas Examine any person under oath Issue producer licenses
Collecting commissions from insurers
The Director of Insurance may suspend, revoke, or refuse to issue or renew a producer's license for any one or more of the following causes, except: Knowingly accepting insurance business from an individual who is licensed Improperly withholding, misappropriating, or converting any money or property received in the course of doing business Having admitted or having been found to have committed any insurance unfair trade practice, any unfair claim settlement practice, or fraud Forging another's name to an application for insurance or to any document related to an insurance transaction
Knowingly accepting insurance business from an individual who is licensed
According to Special Provisions Endorsement for Homeowners and Dwelling policies issued in this state, the conditions of nonrenewal state that the ___________ must provide the reason for refusing to renew.
Insurer
Nebraska law requires that the _________ disclose to the insured when any use of a non-original manufacturer part is proposed for a repair.
Insurer
In Nebraska, the use of after market parts:
Must be clearly identified on the repair estimate
It is prohibited for an agent to include in the sum charged for a policy any fee, compensation, or charge that is not specified in the policy. This is an unfair trade practice referred to as:
Nondisclosure of fees
Which one of the following is not considered an unfair trade practice in the business of insurance? Making any false oral or written statement maliciously critical or derogatory of any insurer's financial condition that intends to injure someone in the business of insurance Making misleading representations or fraudulent comparisons of insurance policies Offering a discount of premium specified in the policy Inducing a client to purchase, amend, lapse, forfeit, change, or surrender insurance to their detriment
Offering a discount of premium specified in the policy
In Nebraska, employers can secure the payment of Workers' Compensation in all of the following ways, except: Self-insuring Insuring their liability in a company authorized to do Workers' Compensation business in this state Offering comprehensive medical plans to all employees Being a member of the Nebraska Workers' Compensation Plan
Offering comprehensive medical plans to all employees
In Nebraska, a person applying for a resident producer license is required to:
Pass a written examination for the line(s) of authority for which the person has applied
According to Nebraska law, after an auto policy has been in force for 60 days, the policy may be cancelled for all of the following reasons, except: Violation of any of the terms or conditions of the policy Suspension of the named insured's drivers' license Payment of premiums on time and in full Fraud or material misrepresentation affecting the policy or in the presentation of a claim under the policy
Payment of premiums on time and in full
A ____________ is a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance.
Producer
All appropriately licensed ___________ may submit business to the Nebraska Automobile Insurance Plan.
Producers
Offering a special advantage in benefits that is not specified in the policy is called:
Rebating
Nebraska insurers must keep on file a record of unfair trade practice complaints made:
Since the date of the last examination
The Director discovers that a manager of a business entity knew about an individual licensee's violation of insurance regulation and did not report it or take corrective action. What can the Director do?
Suspend or revoke the license of the business entity
The Director may issue a temporary license to all of the following individuals, except: The representative of a disabled producer to allow the recovery of the producer The designee of an applicant who failed their first attempt at the state exam and is retaking the exam within 30 days The designee of a producer entering active service in the armed forces The surviving spouse of a deceased producer to allow adequate time for the sale of the business
The designee of an applicant who failed their first attempt at the state exam and is retaking the exam within 30 days
An insurance producer's license will contain all of the following information, except: The license's date of issuance The licensee's address The licensee's Social Security number The licensee's name
The licensee's Social Security number
A producer licensed in Nebraska received 15% of their total commissions in one year from writing controlled business. What will happen in response?
The producer will be presumed to have obtained their license primarily to write controlled business and circumvent laws regarding rebates
Under the Nebraska Workers' Compensation Act, a dependent child enrolled as a full-time student may receive benefits until age:
25
In Nebraska, the required minimum limits for UM/UIM coverage are:
25/50
If a property policy issued in Nebraska will be cancelled due to nonpayment of premium, the insurer must give:
10 days' notice
Within ______ days after notifying the Director of appointment termination, the insurer must mail a copy of the notification to the insurance producer at their last known address.
15
Before approving a resident insurance producer's license application, the Director of Insurance must find that the individual is at least ______ years of age.
18
The Director of Insurance may issue a temporary insurance producer license for up to ____ days without requiring an examination if the temporary license is necessary for the servicing of an insurance business under certain circumstances.
180
Every insurance company transacting business in this state must annually pay _____ of the Workers' Compensation benefits it paid during the preceding year to the Workers' Compensation Trust Fund.
2%
In Nebraska, licensees are required to complete _____ hours of approved continuing education in each 2-year period.
24
In Nebraska, a person who is required to be licensed and is not so licensed may not:
Accept or pay commissions
In Nebraska, which of the following individuals would be exempt from taking a licensing exam? An individual who is licensed in another line of authority in this state An individual who has an associate's degree An individual who is 21 years or older An individual who is currently licensed for the same lines of authority in another state
An individual who is currently licensed for the same lines of authority in another state
The purpose of the Insurance Fraud Act is to do all of the following, except: Detect and eliminate the occurrence of fraud through the development of fraud prevention programs Authorize the imposition of civil penalties and restitution of fraudulently obtained benefits Reduce the amount of premium dollars used to pay fraudulent claims Appoint the National Association of Insurance Commissioners to investigate activities involving insurance fraud in this state
Appoint the National Association of Insurance Commissioners to investigate activities involving insurance fraud in this state
An insurance producer may not act as an agent of an insurer unless the insurance producer is ___________ by the insurer.
Appointed
In Nebraska, a nonresident may receive a nonresident producer license so long as they:
Are currently licensed as a resident in their home state and are in good standing in that state
Which unfair trade practice is defined as making any false statement that is maliciously critical or derogatory of any insurer's financial condition that intends to injure someone in the business of insurance?
Defamation
If a nonresident applicant's home state is recognized as a reciprocal state, the applicant may be:
Exempted from examination
Which of the following is not considered an unfair claim settlement practice? Delaying investigation or payment of a claim by requiring submission of a preliminary claim report Compelling insureds to institute litigation to recover amounts due by offering substantially less than the amounts recovered in actions brought by legal process Failing to pay a claim prior to the receipt of a proof of loss Refusing to pay claims without conducting a reasonable investigation
Failing to pay a claim prior to the receipt of a proof of loss
In Nebraska, when an applicant requests a hearing after their license is nonrenewed, the hearing must be held within:
False advertising
If the Director denies an application for a license, the Director must notify the licensee and:
Inform them of the reason for the denial
The Privacy of Insurance Consumer Information Act does not apply to:
Information about companies or individuals who obtain products or services for business, commercial, or agricultural purposes
A business entity acting as an insurance producer is required to obtain a(n) ___________ license:
Insurance producer
The Special Provisions Endorsement to Homeowners and Dwelling policies in Nebraska adds _________________________ as a condition.
The Nebraska Valued Policy Law
Member insurers of the Nebraska Property and Liability Insurance Guaranty Association may not include any reference to ___________________ in advertisements.
The coverage of the Association
The Nebraska Valued Policy law applies to loss caused by all of the following except: Fire Explosion The criminal fault of the insured Tornado
The criminal fault of the insured
What is the purpose of the Nebraska Workers' Compensation Plan?
To provide coverage for employers who have been unable to purchase insurance through ordinary methods
Permitting individuals of the same class and equal expectation of life to be charged different rates for the same insurance coverage is called:
Unfair discrimination
No motor vehicle liability policy may be issued in this state unless _______________ is provided.
Uninsured/underinsured motorist coverage
The Nebraska Workers' Compensation Trust Fund is used to make payments for:
Vocational rehabilitation services