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

  • Exam Code: Life-Producer
  • Exam Name: Maryland Life Producer Exam (Series 20-27)
  • Updated: Sep 14, 2026     Q & A: 85 Questions and Answers

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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Insurance Fundamentals- Insurance concepts
  • 1. Utmost good faith
    • 2. Insurable interest
      - Risk management principles
      • 1. Pure vs speculative risk
        • 2. Methods of handling risk (avoidance, retention, transfer)
          Topic 2: Life Insurance Products- Annuities
          • 1. Immediate and deferred annuities
            • 2. Fixed and variable annuities
              - Term life insurance
              • 1. Level term, decreasing term
                - Permanent life insurance
                • 1. Universal life
                  • 2. Whole life
                    • 3. Variable life
                      Topic 3: State Regulation (Maryland Insurance Law)- Producer licensing requirements
                      • 1. License application process
                        • 2. Pre-licensing education requirements
                          - Ethics and conduct
                          • 1. Misrepresentation rules
                            • 2. Unfair trade practices
                              Topic 4: Policy Provisions and Riders- Life insurance policy clauses
                              • 1. Grace period
                                • 2. Suicide clause
                                  • 3. Incontestability clause
                                    - Common riders
                                    • 1. Accidental death benefit
                                      • 2. Living benefits riders
                                        • 3. Waiver of premium

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

                                          Question #1

                                          The income benefits distributed during the liquidation phase of an annuity contract are normally payable to:

                                          • A. The owner
                                          • B. The beneficiary
                                          • C. The nominator
                                          • D. The annuitant
                                          Answer: D

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                                          Question #2

                                          How does the payment of an accelerated benefit affect a life insurance policy?

                                          • A. It increases the policy premium.
                                          • B. It increases the cash value.
                                          • C. It decreases the death benefit.
                                          • D. It decreases the grace period.
                                          Answer: C

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                                          Question #3

                                          A policy of life insurance may NOT be delivered unless the policy has a:

                                          • A. Financial statement of the life insurance company
                                          • B. Premium coupon book
                                          • C. Legible and brief description of the policy on the first page
                                          • D. Notary seal
                                          Answer: C

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                                          Question #4

                                          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
                                          Answer: A

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                                          Question #5

                                          All of the following statements about the life insurance protection provided by a family life insurance policy are true EXCEPT:

                                          • A. Coverage is available only to heads of households who are 30 years old or younger
                                          • B. Most of the premium amount purchases whole life insurance for the head of the household
                                          • C. Coverage for dependents can be converted to whole life insurance without evidence of insurability
                                          • D. Life insurance coverage is provided automatically to children born during the policy period
                                          Answer: A

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