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

Maryland Insurance Administration Life-Producer Actual PDF
  • Exam Code: Life-Producer
  • Exam Name: Maryland Life Producer Exam (Series 20-27)
  • Updated: Aug 24, 2026
  • Q & A: 85 Questions and Answers
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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

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

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

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

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


2. An individual life insurance policy may include coverage for all of the following EXCEPT:

A) Burial
B) Long-term care
C) Disability
D) Workers' compensation


3. A refusal to do business with a particular individual or business is known as:

A) A binder
B) A boycott
C) An estoppel
D) An injunction


4. How long will income benefit payments continue under a life annuity with ten years certain?

A) Until the annuitant dies, or for ten years, whichever is longer
B) Only until the annuitant dies, regardless of when death occurs
C) Until the annuitant dies, and for an additional ten years
D) Only for ten years, regardless of how long the annuitant lives


5. An insurable interest in each other's lives may exist in the absence of an economic interest when the individuals are:

A) Business associates
B) Traveling companions
C) Marriage partners
D) Competitors


Solutions:

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

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