Depends on which chase nipple ...
Chase nipples come in various lengths, and it's absolutely possible for a particular nipple to 'bottom out' in a fitting and not provide reliable contact.
It's also quite possible for the threads on the nipple to be the wrong threads for the conduit body, so it depends on you using the right body as well.
Guys, UL cannot possibly evaluate every possible combination of every component that exists - then proceed to list those on the lable. Or in the White book. Or anywhere else, for that matter. It simply can't be done.
Instead, there is a supposition that the work will be done in a sensible manner by folks who know what they're doing. You can't make it absolutely idiot-proof; they keep developing better idiots.
As to the specific question ... how does UL test? Well, it's a pretty straightforward test, where a lab tech simply screws two things together and applied a 'hi-pot' (or 'dielectric withstand) test. I can tell you, from personal experience, that it's simply amazing how poor of a connection will pass the test. Trust me - our 'trade practices' are WAY above and beyond the minimum required to pass the test.
That's why the code has a requirement that parts be installed in a 'workmanlike' manner.