Try and practice the latest Maryland Insurance Administration : Life-Producer real questions & answers

Updated: Jul 26, 2026

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Maryland Insurance Administration Life-Producer Exam Overview:

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

Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

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

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

                                          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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