NRS 645.530(2)(a) states that “each real estate broker shall display his or her license conspicuously [my bold & italics] in the broker’s place of business.”  NRS 645.530(2)(b) states that “each broker shall prominently [my bold & italics] display in his or her place of business the licenses of all real estate broker-salespersons and salespersons associated with him or her therein or in connection therewith.”   A dictionary definition of the term “conspicuously” and “prominently” would suggest the broker’s license and all other licenses should stand out so as to be clearly visible.  So, in my opinion, YES!
The licenses should be in “plain view” so members of the public may see them.

Disclaimer:  I am not an attorney.  I can not offer legal advice or opinions, nor am I permitted to interpret Nevada laws.  You may wish to seek competent legal advice &/or contact the Nevada Real Estate Division.