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Updated: Jul 24, 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
Exam Format:Multiple-choice
Related Certifications:Maryland Property & Casualty Producer License
Maryland Health Insurance Producer License
Available Languages:English
Recommended Training:PSI Exam Candidate Information Bulletin
Maryland Insurance Pre-Licensing Education Providers (State-approved list)
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. Pure vs speculative risk
    • 2. Methods of handling risk (avoidance, retention, transfer)
      - Insurance concepts
      • 1. Utmost good faith
        • 2. Insurable interest
          Topic 2: Life Insurance Products- Term life insurance
          • 1. Level term, decreasing term
            - Permanent life insurance
            • 1. Whole life
              • 2. Variable life
                • 3. Universal life
                  - Annuities
                  • 1. Immediate and deferred annuities
                    • 2. Fixed and variable annuities
                      Topic 3: Policy Provisions and Riders- Common riders
                      • 1. Living benefits riders
                        • 2. Waiver of premium
                          • 3. Accidental death benefit
                            - Life insurance policy clauses
                            • 1. Suicide clause
                              • 2. Incontestability clause
                                • 3. Grace period
                                  Topic 4: State Regulation (Maryland Insurance Law)- Ethics and conduct
                                  • 1. Misrepresentation rules
                                    • 2. Unfair trade practices
                                      - Producer licensing requirements
                                      • 1. License application process
                                        • 2. Pre-licensing education requirements

                                          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) The plan funds are available for general business needs
                                          B) The employer's contributions to the plan are tax deductible
                                          C) It is useful in rewarding selected employees for good work performance
                                          D) It can be designed for the exclusive benefit of several key employees


                                          2. The annual addition to an employee's account in a qualified retirement plan:

                                          A) Must be the same dollar amount for every full-time employee
                                          B) Cannot exceed maximum limits set by the Internal Revenue Service
                                          C) Can be any amount as determined by the employer from year to year
                                          D) Usually reflects the employee's individual work performance each year


                                          3. Which of the following reinforces the rule that ambiguities in insurance contracts should be interpreted in favor of the policyholder?

                                          A) Reasonable expectations
                                          B) Representation
                                          C) Retention
                                          D) Retrocession


                                          4. In the event of a death claim under a life insurance policy, what happens to the amount of any existing policy loan?

                                          A) The beneficiary has an obligation to pay the amount to the insurance company.
                                          B) It represents a primary claim against the estate of the insured.
                                          C) It is canceled, and the beneficiary receives the face amount of the policy.
                                          D) It is deducted from the face amount of the policy together with any interest due.


                                          5. If a life insurer denies a policy of life insurance, the insurer shall disclose the results of any medicalexamination administered to determine insurability to the:

                                          A) Company's underwriter
                                          B) Physician that furnished medical information to the insurer
                                          C) Physician of the applicant's choice upon the request of the applicant
                                          D) Beneficiary of the policy


                                          Solutions:

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

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