For a quick change, also make sure your monitor cables are perfectly working. Test your monitor. It'll be really awkward to replace the motherboard and all, to realize the screen was bad xD
Yes, anything (or most things) can die at anytime if something goes wrong, when it comes to hardware.
BIOS is the basic Input-Output system, which, imo, will work only when the hardware works properly first.
"No Signal" on your display means that the computer isn't giving any output on the display, and which is usually fixed on resetting the BIOS, which you did try, so that must mean that there's something wrong with your hardware.
Now, get the new motherboard, as your old one is most probably faulty.