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Free Practice Questions for NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ)

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Key Facts: NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ) Exam

30 questions per sector (5 general, 25 sector), three options each, 25 minutes.

Pass mark: at least 24 correct answers.

Fee: €50 per sector in Slovak; €200 in another language (NBS Decree No. 5/2018).

Held by NBS-authorised examination organisations; must be retaken at least every four years.

This bank is an English-language MCQ study adaptation with four options per question.

The NBS insurance sector exam has 30 three-option questions (5 general, 25 on insurance) in 25 minutes; you need 24 correct answers. The fee is €50 in Slovak or €200 in another language, and the exam must be retaken at least every four years.

Sample NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ) Practice Questions

Try these sample questions to review concepts for the NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ) exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 60+ question experience with AI tutoring.

1Under the Slovak Criminal Code, who is NOT criminally liable for an act that would otherwise be a crime?
A.A person who was 15 years old at the time of the act
B.A person under 14 years of age at the time of the act
C.A person who was 17 and acted only through negligence
D.A person who was 16 and acted with direct intent
Explanation: A person who had not reached 14 years of age when committing an act that would otherwise be a crime is not criminally liable. Nor is a person who, because of a mental disorder, could not recognise its unlawfulness or control their conduct. Young people aged 14 to 18 can be criminally liable, with special rules for juveniles.
2A client tells an insurer that a car was stolen when in fact he sold it, and receives a claim payment. Which offence best matches enriching oneself by misleading someone?
A.Embezzlement (sprenevera)
B.Theft (krádež)
C.Unauthorised use of another's thing
D.Fraud (podvod)
Explanation: Fraud (podvod) is committed by a person who enriches themselves or another to the detriment of someone else's property by misleading someone or exploiting their mistake. The Criminal Code also has a specific insurance-fraud offence for obtaining an insurance payment this way. Embezzlement and theft concern appropriating someone else's thing.
3Which situation is an example of unjust enrichment (bezdôvodné obohatenie) under the Civil Code?
A.A firm mistakenly pays a stranger, who knows of the error and keeps the money
B.A buyer receives goods under a contract, but the seller sends the invoice late
C.A neighbour repairs a roof at the owner's express request and is paid for it
D.A hotel keeps part of a deposit under the cancellation terms of the contract
Explanation: Unjust enrichment is a property benefit obtained without legal grounds at someone else's expense; it must be returned. A payment sent by mistake and kept has no legal basis. In the other situations the benefit rests on a contract.
4To whom may an entrepreneur grant a commercial power of attorney (prokúra)?
A.Only to a legal person
B.To a natural or a legal person
C.Only to a natural person
D.To several legal persons jointly
Explanation: Prokúra can be granted only to a natural person. It authorises the holder (prokurista) to perform all legal acts connected with running the enterprise, even those that would otherwise need a special power of attorney. Its grant takes effect on registration in the commercial register.
5How are the partners of a limited liability company (spoločnosť s ručením obmedzeným) liable for its debts?
A.Without limit, with all of their personal property, jointly and severally
B.Up to the total of profit shares the company has paid out to them
C.Up to the company's full registered capital, jointly with the other partners
D.Up to the unpaid part of their contribution recorded in the commercial register
Explanation: Partners of a limited liability company are liable for its obligations only up to the amount of their unpaid contribution as recorded in the commercial register. Once the contribution is fully paid, the partner's liability is exhausted. The company itself is liable with all its property.
6Under § 30(1) of Act No. 186/2009 Z. z., who is responsible for damage caused while carrying out financial intermediation?
A.The financial agent or financial adviser who caused it
B.Only the insurer whose product the agent sold
C.Only the client, who signed the insurance contract
D.Národná banka Slovenska, as the market supervisor
Explanation: § 30(1) makes financial agents and financial advisers liable for damage caused while carrying out financial intermediation or advice. Independent agents and advisers must also hold professional liability insurance for this. The supervisor is not liable for an agent's conduct.
7Under § 30(3) of Act No. 186/2009 Z. z., what minimum professional liability insurance must an independent financial agent in the insurance sector hold?
A.EUR 100,000 per claim and EUR 150,000 per year, valid in Slovakia only
B.EUR 1,250,000 per claim and EUR 1,850,000 per year, valid in Slovakia only
C.EUR 1,564,610 per claim and EUR 2,315,610 per year, valid in other EU states too
D.EUR 6,450,000 per claim, regardless of the number of injured persons
Explanation: For the insurance sector, § 30(3) requires cover of at least EUR 1,564,610 per claim and EUR 2,315,610 in total for a calendar year, valid in other member states as well. The general minimum in § 30(2) is EUR 100,000 per claim and EUR 150,000 a year, and the capital-market minimum is EUR 1,250,000 and EUR 1,850,000. Any agreed deductible may be at most 1% of the claim payment.
8Who keeps the register of financial agents and financial advisers under Act No. 186/2009 Z. z.?
A.The Ministry of Finance of the Slovak Republic
B.The Slovak Insurance Association (SLASPO)
C.The Ministry of the Interior through the trade register
D.Národná banka Slovenska
Explanation: Národná banka Slovenska keeps the register of financial agents, financial advisers and EU intermediaries operating in Slovakia. Tied, subordinate and ancillary agents are entered on their proposer's application, while independent agents and advisers need an NBS licence. Clients can check an intermediary's registration in this public register.
9Under § 21(8) of Act No. 186/2009 Z. z., which competence level must a financial adviser (finančný poradca) who is a natural person meet?
A.The highest level, including an examination with certificate
B.The higher level, including three years of practice
C.The medium level, including a professional examination
D.The basic level, with annual special financial education
Explanation: § 21(8) requires a financial adviser who is a natural person, the responsible statutory-body member and its professional guarantor to meet at least the highest level. That means complete secondary education, seven years of practice, an examination with certificate and special financial education. The certificate examination has a written and an oral part and is organised by NBS.
10On what basis may a financial agent process a client's personal data under the GDPR when arranging an insurance contract?
A.Only on the client's written consent, which must be obtained again before each step
B.Because processing is necessary to perform a contract to which the client is a party
C.Because NBS has authorised the agent to carry out financial intermediation
D.Because processing is a task carried out in the public interest
Explanation: The official NBS question pool answers that a financial agent may process a client's personal data because processing is necessary for the performance of a contract to which the client is a party. Consent is only one of several legal bases and is not needed before every step. Personal data should be kept only as long as necessary for the purpose.

About the NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ) Exam

Independent practice for the professional exam (odborná skúška) in the insurance and reinsurance sector (poistenie alebo zaistenie, PaZ), required under Act No. 186/2009 Z. z. for people who want to distribute insurance as subordinate financial agents (medium level) or independent financial agents (higher level). The exam is a 30-question, 25-minute test drawn from the official NBS question database, held by NBS-authorised organisations, normally in Slovak. Passing it must be repeated at least every four years, alongside annual special financial education. This bank covers the official topic areas with English-language questions and Slovak legal terms; it is an English-language MCQ study adaptation, not an official translation or format simulation.

Exam sponsor: Examination organisations authorised by Národná banka Slovenska (NBS). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

30 single-answer questions (5 general, one from each general area; 25 sector questions, five from each sector area), three answer options each, 25 minutes. At least 24 correct answers are needed. The medium level uses medium-difficulty questions; the higher level combines medium and higher-difficulty questions.

Time Limit

25 minutes per sector

Passing Score

At least 24 correct answers out of 30

Exam / Certification Fees

€50 per sector in Slovak; €200 per sector in another language

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

10 practice questions

General financial market knowledge

Act No. 186/2009 Z. z., consumer and data protection, AML basics and NBS supervision.

10 practice questions

Insurance law and supervision

Act No. 39/2015 Z. z., distribution rules and supervision.

10 practice questions

Nature of insurance and the insurance contract

Civil Code insurance contract rules, sum insured and multiple insurance.

10 practice questions

Life and non-life insurance

Life, unit-linked, accident, property and liability insurance.

10 practice questions

Statutory and compulsory insurance, including motor liability (PZP)

Act No. 381/2001 Z. z., direct claims, recourse and the Slovak Insurers' Bureau.

10 practice questions

Start and end of insurance, reinsurance and taxation

Start and end of cover, withdrawal rights, reinsurance and taxation.

Preparing for the NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ) Exam

What You Need to Know

  • Passing score: At least 24 correct answers out of 30
  • Assessment: 30 single-answer questions (5 general, one from each general area; 25 sector questions, five from each sector area), three answer options each, 25 minutes. At least 24 correct answers are needed. The medium level uses medium-difficulty questions; the higher level combines medium and higher-difficulty questions.
  • Time limit: 25 minutes per sector
  • Exam / certification fees: €50 per sector in Slovak; €200 per sector in another language Official sources

Using Our Practice Resources

  • Work through all 60 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

NBS Financial Intermediary Exam — Insurance & Reinsurance (PaZ): Suggested Study Strategy

1Work through the official NBS question database for the insurance sector and the general part; the exam draws its questions from it.
2Know the Civil Code insurance contract vocabulary: policyholder, insured, beneficiary, insurance term versus insurance period.
3Practise simple claim calculations for underinsurance and multiple insurance.
4Learn the PZP rules: direct claims against the insurer, the insurer's recourse rights and the role of the Slovak Insurers' Bureau.
5Practise at exam pace: 30 questions in 25 minutes leaves under a minute per question.

Frequently Asked Questions

Who must pass the insurance sector exam?

Under Act No. 186/2009 Z. z., subordinate financial agents need medium professional competence and independent financial agents need higher professional competence in the sector they work in. Both levels require passing the sector exam, which must be passed again at least every four years, together with annual special financial education.

What is the format of the official exam?

Each sector exam has 30 questions from the official NBS database: 5 general questions and 25 sector questions, each with three answer options. The time limit is 25 minutes, and you need at least 24 correct answers. The higher level includes both medium and higher-difficulty questions.

How much does the exam cost, and in which languages is it offered?

Under NBS Decree No. 5/2018, the fee is €50 per sector for an exam in Slovak and €200 per sector in another language. Exams are normally held in Slovak; some authorised organisers also offer other languages, such as English and German.

Is this practice bank an official NBS product?

No. It is independent study practice and an English-language MCQ study adaptation. It is not affiliated with Národná banka Slovenska or any examination organisation, and it is not an official translation of the NBS question database.