Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) : Life-Producer

  • Exam Code: Life-Producer
  • Exam Name: Maryland Life Producer Exam (Series 20-27)
  • Updated: Aug 18, 2026     Q & A: 85 Questions and Answers

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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionObjectives
Types of Policies- Interest-Sensitive Life Products
  • 1. Variable Life
  • 2. Universal Life
  • 3. Variable Universal Life
- Term Life Insurance
  • 1. Level Term
  • 2. Renewable and Convertible Term
  • 3. Decreasing Term
- Traditional Whole Life Products
  • 1. Limited-Pay and Single-Premium Life
  • 2. Ordinary Whole Life
Federal Tax Considerations- Life Insurance Taxation
  • 1. Premiums
  • 2. Death Benefits
  • 3. Cash Values
- Qualified Plans
  • 1. IRA
  • 2. Retirement Planning Concepts
  • 3. 401(k)
Annuities- Annuity Principles
  • 1. Indexed Annuities
  • 2. Fixed Annuities
  • 3. Variable Annuities
- Annuity Benefit Options
  • 1. Life Income
  • 2. Joint and Survivor
  • 3. Period Certain
Maryland Insurance Laws and Regulations- Regulatory Practices
  • 1. Ethics Standards
  • 2. Consumer Protection
  • 3. Unfair Trade Practices
- Licensing Requirements
  • 1. Continuing Education
  • 2. Renewal Procedures
  • 3. Producer Licensing
Life Insurance Policy Riders and Provisions- Policy Riders
  • 1. Waiver of Premium
  • 2. Guaranteed Insurability
  • 3. Accidental Death
- Policy Provisions
  • 1. Ownership
  • 2. Policy Loans
  • 3. Assignments
  • 4. Beneficiaries

Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:

1. All of the following factors may affect premium determination in individual life insurance EXCEPT:

A) Race
B) Occupation
C) Age
D) Health


2. Publishing a derogatory article about the financial condition of an insurer that is false and calculated to injure the insurer is an example of:

A) Defamation
B) Coercion
C) Extortion
D) Intimidation


3. The beneficiary of a life insurance policy is the:

A) Insurer that issues the policy
B) Person or entity designated in the policy to receive the death proceeds
C) Person or entity who has ownership interest in the policy
D) Owner of the cash value fund


4. The free-look period provided in a life insurance policy is usually:

A) 45 days
B) 10 days
C) 60 days
D) 31 days


5. A life insurance producer is normally responsible for all of the following EXCEPT:

A) Notifying the company if a new policy will replace an existing policy
B) Collecting the initial premium from the applicant
C) Approving policies for issue on behalf of the insurer
D) Delivering newly issued policies to applicants


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: B
Question # 4
Answer: B
Question # 5
Answer: C

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