semplr.

Exams · Certifications · Licensing

Life and Health Insurance Producer Exam

Penalties (NE): practice questions

Our Life & Health Insurance bank has 5 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · Nebraska

For an ordinary (not flagrant) unfair trade practice, what monetary penalty may the director order?

  1. A flat $500 for each violation
  2. Up to $1,000 per violation, with a total cap of $30,000
  3. Up to $15,000 per violation, with a total cap of $150,000
  4. Up to $5,000 per violation, with no cap
Show the answer

B. Up to $1,000 per violation, with a total cap of $30,000 — Neb. Rev. Stat. 44-1529(1).

Question 2 · Nebraska

What is the maximum administrative fine per violation of the Insurance Producers Licensing Act, after notice and hearing?

  1. $10,000
  2. $500
  3. $25,000 or three times the commission earned, whichever is greater
  4. $1,000
Show the answer

D. $1,000 — Neb. Rev. Stat. 44-4059(5).

Question 3 · Nebraska

What penalty applies for violating the director's cease and desist order under the Unfair Insurance Trade Practices Act?

  1. A warning letter for the first violation
  2. Up to $30,000 per violation, with a total cap of $150,000, plus possible suspension or revocation
  3. A one-year jail sentence
  4. Up to $1,000 per violation, with a total cap of $30,000
Show the answer

B. Up to $30,000 per violation, with a total cap of $150,000, plus possible suspension or revocation — Neb. Rev. Stat. 44-1532.

More Life & Health Insurance topics