Sorta, the signalling R's right to protection ends once the kick hits the ground. Also, all those crazy things that R has rights to after a fair kick are gone once the kick hits the ground. You can't have a fair catch if the kick is not caught (unless of course it's awarded). If any R recovers the kick after it hits the ground, the ball is dead and the kick is over. That's what they are trying to get at with this question. They're just kinda ignoring the possibility that the ball could be recovered on K's side of the NZ and K recovers to end the kick.
PS - just because R lost the right of protection doesn't mean K gets to plaster them once R recovers the kick. You'd rule this like any other dead ball situation with a late hit.
PSS-gotta love the kicking game!
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