Updated: Jul 26, 2026
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| Certification Vendor: | Maryland Insurance Administration |
| Exam Name: | Maryland Life Insurance Producer Examination (Life Producer) |
| Exam Number: | Series 20-27 |
| Related Certifications: | Maryland Property & Casualty Producer License Maryland Health Insurance Producer License |
| Available Languages: | English |
| Exam Format: | Multiple-choice |
| Recommended Training: | Maryland Insurance Pre-Licensing Education Providers (State-approved list) PSI Exam Candidate Information Bulletin |
| Exam Registration: | Maryland Insurance Administration Licensing Information PSI Maryland Insurance Licensing Exam Registration |
| Sample Questions: | Maryland Insurance Administration Life-Producer Sample Questions |
| Exam Way: | Computer-based testing at authorized PSI testing centers (and/or approved remote proctoring depending on PSI availability in Maryland). |
| Pre Condition: | Completion of state-approved pre-licensing education course required before exam registration. |
| Official Syllabus URL: | https://insurance.maryland.gov |
| Section | Objectives |
|---|---|
| Topic 1: Insurance Fundamentals | - Risk management principles
|
| Topic 2: Policy Provisions and Riders | - Common riders
|
| Topic 3: State Regulation (Maryland Insurance Law) | - Producer licensing requirements
|
| Topic 4: Life Insurance Products | - Permanent life insurance
|
1. Which advantage does an employer gain by providing a qualified retirement plan, as contrasted to a non- qualified plan?
A) It can be designed for the exclusive benefit of several key employees
B) The employer's contributions to the plan are tax deductible
C) It is useful in rewarding selected employees for good work performance
D) The plan funds are available for general business needs
2. What does the annuitant usually receive during the liquidation phase of an annuity?
A) Benefit payments at regular intervals
B) Nothing
C) Cash withdrawals upon request
D) A lump sum
3. In order to qualify for a company convention, an insurance producer agrees to pay the first quarterly premium for the applicant for new insurance. This is called a:
A) Cost of doing business
B) Gift
C) Rebate
D) Loan
4. The Maryland Insurance Administration may suspend an agent's license for all of the following reasons EXCEPT:
A) Mishandling premium payments
B) Violating a regulation or order of the Maryland Insurance Administration
C) Engaging in fraudulent or dishonest practices
D) Sharing commissions with agents holding the same license type
5. Which life annuity contract feature provides that benefit payments will continue for a minimum number of years regardless of when the annuitant dies?
A) Period certain
B) Installment refund
C) Cash refund
D) Cost recovery
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: A |
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