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

  • Exam Code: Life-Producer
  • Exam Name: Maryland Life Producer Exam (Series 20-27)
  • Updated: Sep 12, 2026     Q & A: 85 Questions and Answers

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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

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

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

                                          Question #1

                                          A producer may be guilty of misrepresentation if the producer:

                                          • A. Failed to disclose exclusions of the policy
                                          • B. Denied a claim for failure of the policyholder to prove damages
                                          • C. Required timely written notice of loss for all claims
                                          • D. Issued a full settlement check expressly releasing the insurer
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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                                          Question #2

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

                                          • A. Collecting the initial premium from the applicant
                                          • B. Approving policies for issue on behalf of the insurer
                                          • C. Delivering newly issued policies to applicants
                                          • D. Notifying the company if a new policy will replace an existing policy
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

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                                          Question #3

                                          To have "an insurable interest" in the life of another person, an individual must have a reasonable expectation of:

                                          • A. Benefiting from the other person's continued life
                                          • B. Continuing on good terms with the other person
                                          • C. Gaining economically by the death of the other person
                                          • D. Seeing the other person survive to normal life expectancy
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

                                          Explanation: Only visible for PracticeTorrent members. You can sign-up / login (it's free).

                                          Question #4

                                          Advertisements in general shall be:

                                          • A. Approved by the Insurance Commissioner
                                          • B. Clear only by familiarity with insurance terminology
                                          • C. Clear only by implication
                                          • D. Truthful
                                          Reveal Solution  Discussion  0

                                          Correct Answer: D  🗳️

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                                          Question #5

                                          Which contract offers flexible deposits, deferred taxation, a guaranteed minimum interest rate, and death proceeds equal to the cash value?

                                          • A. A universal life insurance policy
                                          • B. A flexible premium fixed annuity
                                          • C. An available deferred annuity
                                          • D. An adjustable whole life insurance policy
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

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