An insurer was originally formed under the laws of Nevada. It later converted, under the laws of Arizona, into a foreign insurer, and it continues to sell health insurance in Nevada. How does NRS classify this insurer today?

As a foreign insurer, because its conversion took it out of domestic status

During an examination, the Nevada Commissioner decides an asset must be valued and delivers a written request asking the person being examined to appoint a qualified appraiser. If the person makes no appointment, when may the Commissioner appoint the appraiser instead?

Once 10 days pass after delivery of the request without an appointment

An employee covered under a group health insurance policy in Nevada has a baby on March 3. The policy requires notice of the birth and payment of any required premium. To keep the newborn's coverage in force past the initial period, by when must the notice and premium reach the insurer?

Within 31 days after the date of birth

A Nevada life and health producer must normally certify 30 hours of approved continuing education, including 3 hours of ethics, within the 3-year period before renewal. Which producer qualifies for the Commissioner's exemption from that requirement?

One with 20 years of continuous experience who has earned a primary income selling insurance

A Nevada group health insurer denies an insured's request for coverage of a planned health care service before any claim for the service has been submitted. Within what period must the insurer notify the insured of the denial in writing?

Within 10 working days after the insurer denies coverage of the service

A person who maintains an office in Nevada wants to act as a broker for reinsurance for a foreign insurer. Under Nevada law, which credential allows this person to do so?

A license as a producer issued by the state of Nevada

After investigating a foreign fraternal benefit society whose life certificates are sold through Nevada producers, the Commissioner finds it is conducting business in a manner hazardous to its members and issues a written order requiring corrections. How long does the society have to comply before the Commissioner may find noncompliance and require it to show cause why its license should be left intact?

30 days after the society receives the written order

A health maintenance organization operating in Nevada denies a physician's application to join its provider network and notifies the physician on the form letter the Commissioner prescribes. What must the HMO do with its copy of that letter?

Keep a copy and make it available to the Commissioner on request

A member insurer is an impaired insurer under Nevada's life and health guaranty law but has not been found insolvent. Which statement correctly describes the guaranty association's authority to act on that insurer's policies?

It may act at its discretion, subject to conditions the Commissioner approves

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1.An insurer was originally formed under the laws of Nevada. It later converted, under the laws of Arizona, into a foreign insurer, and it continues to sell health insurance in Nevada. How does NRS classify this insurer today?
Answer: B. As a foreign insurer, because its conversion took it out of domestic status
Nevada defines a domestic insurer as one formed under Nevada law unless it has converted into a foreign insurer, and a foreign insurer includes one that has converted into a foreign insurer. This insurer converted, so it is foreign. The domestic answer fails because Nevada formation does not keep domestic status once the insurer has converted into a foreign insurer. The alien answer fails because an alien insurer is one formed under the laws of a country other than the United States, and Arizona is a state. The answer calling it both fails because the conversion exception written into the domestic definition removes it from that category.
Source
Nev. Rev. Stat. Sec. 679A.090(1)(a); Nev. Rev. Stat. Sec. 679A.090(2)(b)
Choose an answer to see the explanation.
2.During an examination, the Nevada Commissioner decides an asset must be valued and delivers a written request asking the person being examined to appoint a qualified appraiser. If the person makes no appointment, when may the Commissioner appoint the appraiser instead?
Answer: B. Once 10 days pass after delivery of the request without an appointment
Nev. Rev. Stat. Sec. 679B.260(1) lets the Commissioner ask the person being examined to appoint a competent, disinterested appraiser, whose selection needs the Commissioner's written approval. If the person makes no appointment within 10 days after the request was delivered, the Commissioner may appoint the appraiser. Five, thirty and sixty days are not the period this section sets. Under subsection 3, the person being examined bears the reasonable expense of the appraisal.
Source
Nev. Rev. Stat. Sec. 679B.260(1) (Appraisal of asset)
Choose an answer to see the explanation.
3.An employee covered under a group health insurance policy in Nevada has a baby on March 3. The policy requires notice of the birth and payment of any required premium. To keep the newborn's coverage in force past the initial period, by when must the notice and premium reach the insurer?
Answer: D. Within 31 days after the date of birth
For group health policies and employee welfare plans that cover family members on an expense-incurred basis, Nevada makes children's benefits payable for a newborn from the moment of birth. The policy may require that notice of the birth, together with any required premium, be furnished within 31 days after the birth for the coverage to continue past that 31-day period. Ten days, 60 days and the policy anniversary are not the period this provision sets.
Source
Nev. Rev. Stat. Sec. 689B.033(2) (newly born and adopted children and children placed for adoption)
Choose an answer to see the explanation.
4.A Nevada life and health producer must normally certify 30 hours of approved continuing education, including 3 hours of ethics, within the 3-year period before renewal. Which producer qualifies for the Commissioner's exemption from that requirement?
Answer: A. One with 20 years of continuous experience who has earned a primary income selling insurance
Nevada exempts a licensee from continuing education who certifies 20 years of continuous experience with a primary source of income from the business of insurance, such as selling, underwriting or managing. Ten years of experience falls short of the 20 the rule requires. A designation such as the CLU qualifies only while the licensee continues to maintain it, so a lapsed designation does not. Holding several lines is not a ground for exemption; the hours must instead relate to the lines the licensee holds. The exemption is claimed by certification in an affidavit approved by the Commissioner.
Source
Nev. Admin. Code Sec. 683A.330(2)(b) (Requirements for renewal of license)
Choose an answer to see the explanation.
5.A Nevada group health insurer denies an insured's request for coverage of a planned health care service before any claim for the service has been submitted. Within what period must the insurer notify the insured of the denial in writing?
Answer: A. Within 10 working days after the insurer denies coverage of the service
Nev. Rev. Stat. Sec. 689B.0295(2)(c) requires a group health insurer that denies coverage of a health care service when no claim has been received to notify the insured in writing within 10 working days after the denial. The 21-day and 30-day periods in the same subsection apply when a claim has been received, running from receipt of all information needed to decide the claim: 21 days if that information was submitted electronically and 30 days if it was not. A 5-business-day period from the provider's request does not appear in this section.
Source
Nev. Rev. Stat. Sec. 689B.0295(2)(c) (Written notice required to be provided by insurer to insured explaining right to file complaint; written notice to insured and provider of health care required when insurer denies coverage of health care service)
Choose an answer to see the explanation.
6.A person who maintains an office in Nevada wants to act as a broker for reinsurance for a foreign insurer. Under Nevada law, which credential allows this person to do so?
Answer: B. A license as a producer issued by the state of Nevada
Nevada allows a person with an office in the state to broker reinsurance for a foreign or alien insurer or reinsurer only if that person is a licensed Nevada producer or holds a Nevada license as a nonresident intermediary for reinsurance. A Nevada producer license therefore satisfies the rule. A nonresident manager license is the credential the statute names for acting as a manager for reinsurance, a different role, so it is not one of the two credentials listed for brokers. An administrator's certificate of registration is not on the list. A license from the insurer's home state is not a Nevada license.
Source
Nev. Rev. Stat. Sec. 681A.420(2) (Limitations and requirements)
Choose an answer to see the explanation.
7.An individual long-term care policyholder in Nevada examines a newly delivered policy and is dissatisfied with it. Within what period after delivery may the policyholder return the policy and have the premium refunded?
Answer: B. Within 30 days of delivery
The law gives an individual long-term care policyholder 30 days from delivery to return the policy and receive a refund of the premium, and the policyholder may do so if not satisfied for any reason. The policy must carry a notice of that right on its first page or attached to it. The other periods offered are not the period the law sets.
Source
Nev. Admin. Code Sec. 687B.060(1) (Right to return individual contracts or certificates; notice of right)
Choose an answer to see the explanation.
8.After investigating a foreign fraternal benefit society whose life certificates are sold through Nevada producers, the Commissioner finds it is conducting business in a manner hazardous to its members and issues a written order requiring corrections. How long does the society have to comply before the Commissioner may find noncompliance and require it to show cause why its license should be left intact?
Answer: C. 30 days after the society receives the written order
When the Commissioner finds that a foreign or alien fraternal society is, among other grounds, operating in a way hazardous to its members, creditors or the public, the Commissioner must notify the society, give the reasons in writing and order corrections. If the society has failed to comply within 30 days after receiving that order, the Commissioner notifies it of the noncompliance and requires it to show cause, on a named date, why its license should not be suspended, revoked or refused. The 10-day, 15-day and 60-day periods are not the compliance window Nevada sets for this order.
Source
Nev. Rev. Stat. Sec. 695A.320(1) (Suspension, revocation or refusal of license of foreign or alien society)
Choose an answer to see the explanation.
9.A health maintenance organization operating in Nevada denies a physician's application to join its provider network and notifies the physician on the form letter the Commissioner prescribes. What must the HMO do with its copy of that letter?
Answer: D. Keep a copy and make it available to the Commissioner on request
Nevada law treats an HMO as a health carrier and requires a health carrier to maintain a copy of each denial form letter sent to a provider and make each copy available to the Commissioner upon request. The carrier also submits summary reports of those letters as often as the Commissioner requires, rather than filing each letter as it is sent. The reports and any requested letters are confidential, so the carrier does not post them publicly; the public report is the Commissioner's annual compilation of aggregated data. Destroying the copy would defeat the duty to maintain it.
Source
Nev. Rev. Stat. Sec. 679B.124(2)(a)
Choose an answer to see the explanation.
10.A member insurer is an impaired insurer under Nevada's life and health guaranty law but has not been found insolvent. Which statement correctly describes the guaranty association's authority to act on that insurer's policies?
Answer: D. It may act at its discretion, subject to conditions the Commissioner approves
For an impaired member insurer, the law says the association may, in its discretion, guarantee, assume, reissue or reinsure the insurer's policies, or provide funds and other means to assure payment of its contractual obligations. Any conditions the association imposes must be approved by the Commissioner and must not impair the insurer's contractual obligations. Because the authority is permissive, there is no duty to assume every policy at once; the authority exists without any liquidation order; and policy owner consent is not a stated condition.
Source
Nev. Rev. Stat. Sec. 686C.150 (Powers regarding impaired insurers)
Choose an answer to see the explanation.

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1.An insurer was originally formed under the laws of Nevada. It later converted, under the laws of Arizona, into a foreign insurer, and it continues to sell health insurance in Nevada. How does NRS classify this insurer today?

2.During an examination, the Nevada Commissioner decides an asset must be valued and delivers a written request asking the person being examined to appoint a qualified appraiser. If the person makes no appointment, when may the Commissioner appoint the appraiser instead?

3.An employee covered under a group health insurance policy in Nevada has a baby on March 3. The policy requires notice of the birth and payment of any required premium. To keep the newborn's coverage in force past the initial period, by when must the notice and premium reach the insurer?

4.A Nevada life and health producer must normally certify 30 hours of approved continuing education, including 3 hours of ethics, within the 3-year period before renewal. Which producer qualifies for the Commissioner's exemption from that requirement?

5.A Nevada group health insurer denies an insured's request for coverage of a planned health care service before any claim for the service has been submitted. Within what period must the insurer notify the insured of the denial in writing?

6.A person who maintains an office in Nevada wants to act as a broker for reinsurance for a foreign insurer. Under Nevada law, which credential allows this person to do so?

7.An individual long-term care policyholder in Nevada examines a newly delivered policy and is dissatisfied with it. Within what period after delivery may the policyholder return the policy and have the premium refunded?

9.A health maintenance organization operating in Nevada denies a physician's application to join its provider network and notifies the physician on the form letter the Commissioner prescribes. What must the HMO do with its copy of that letter?

10.A member insurer is an impaired insurer under Nevada's life and health guaranty law but has not been found insolvent. Which statement correctly describes the guaranty association's authority to act on that insurer's policies?

The other 557 questions are $29.