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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Life Insurance Underwriting and Premiums15%- Risk assessment and pricing
  • 1. Premium calculation factors
    • 2. Underwriting process
      • 3. Classification of risks
        Topic 2: Annuities and Retirement Products15%- Types and features
        • 1. Fixed and variable annuities
          • 2. Distribution options
            • 3. Tax-qualified plans
              Topic 3: Life Insurance Policies25%- Policy types and provisions
              • 1. Beneficiary designations
                • 2. Term, whole life, universal life
                  • 3. Policy clauses and riders
                    Topic 4: Insurance Regulation15%- State insurance laws and administration
                    • 1. Regulation of agents and insurers
                      • 2. Licensing requirements and authority
                        • 3. Unfair trade practices
                          Topic 5: General Insurance Concepts15%- Fundamental principles
                          • 1. Risk and hazard
                            • 2. Contract law basics
                              • 3. Insurable interest
                                Topic 6: Federal and State Tax Considerations10%- Tax treatment of policies and benefits
                                • 1. Income tax implications
                                  • 2. Estate tax aspects
                                    • 3. Tax-deferred growth

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

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

                                      • A. It is canceled, and the beneficiary receives the face amount of the policy.
                                      • B. It is deducted from the face amount of the policy together with any interest due.
                                      • C. The beneficiary has an obligation to pay the amount to the insurance company.
                                      • D. It represents a primary claim against the estate of the insured.
                                      Reveal Solution  Discussion  0

                                      Correct Answer: B  🗳️

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                                      What does the annuitant usually receive during the liquidation phase of an annuity?

                                      • A. Nothing
                                      • B. Cash withdrawals upon request
                                      • C. Benefit payments at regular intervals
                                      • D. A lump sum
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

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                                      The life insurance buyer's guide includes information about all of the following EXCEPT how to:

                                      • A. Take civil action against an insurer
                                      • B. Calculate
                                      • C. Decide how much life insurance to buy
                                      • D. Compare life insurance policy requirements
                                      Reveal Solution  Discussion  0

                                      Correct Answer: A  🗳️

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

                                      Splitting the commission with the buyer on a sale of insurance is an unfair trade practice known as:

                                      • A. Binding
                                      • B. Twisting
                                      • C. Rebating
                                      • D. Soliciting
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

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                                      An insurance producer's license may be suspended or revoked by:

                                      • A. The Maryland Insurance Administration
                                      • B. The appointing insurer
                                      • C. The Attorney General
                                      • D. The continuing education course provider
                                      Reveal Solution  Discussion  0

                                      Correct Answer: A  🗳️

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

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