Pass your actual test with our Maryland Insurance Administration Life-Producer training material at first attempt
Updated: Jul 24, 2026
No. of Questions: 85 Questions & Answers with Testing Engine
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| 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 |
| Section | Objectives |
|---|---|
| Topic 1: Insurance Fundamentals | - Risk management principles
|
| Topic 2: Life Insurance Products | - Term life insurance
|
| Topic 3: Policy Provisions and Riders | - Common riders
|
| Topic 4: State Regulation (Maryland Insurance Law) | - Ethics and conduct
|
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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