Life-Producer exam dumps

Maryland Insurance Administration Life-Producer Value Package

(Include: PDF + Desktop Test Engine + Online Test Engine)

  • Exam Code: Life-Producer
  • Exam Name: Maryland Life Producer Exam (Series 20-27)
  • No. of Questions: 85 Questions and Answers
  • Updated: Sep 12, 2026

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  • Total Questions: 85
  • Updated on: Sep 12, 2026
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  • Total Questions: 85
  • Updated on: Sep 12, 2026
  • Price: $69.98

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  • Total Questions: 85
  • Updated on: Sep 12, 2026
  • Price: $69.98

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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Types of Policies- Term Life Insurance
  • 1. Decreasing Term
  • 2. Renewable and Convertible Term
  • 3. Level Term
- Traditional Whole Life Products
  • 1. Limited-Pay and Single-Premium Life
  • 2. Ordinary Whole Life
- Interest-Sensitive Life Products
  • 1. Universal Life
  • 2. Variable Life
  • 3. Variable Universal Life
Topic 2: Federal Tax Considerations- Life Insurance Taxation
  • 1. Premiums
  • 2. Cash Values
  • 3. Death Benefits
- Qualified Plans
  • 1. 401(k)
  • 2. Retirement Planning Concepts
  • 3. IRA
Topic 3: Life Insurance Policy Riders and Provisions- Policy Provisions
  • 1. Assignments
  • 2. Beneficiaries
  • 3. Policy Loans
  • 4. Ownership
- Policy Riders
  • 1. Guaranteed Insurability
  • 2. Accidental Death
  • 3. Waiver of Premium
Topic 4: Maryland Insurance Laws and Regulations- Regulatory Practices
  • 1. Ethics Standards
  • 2. Consumer Protection
  • 3. Unfair Trade Practices
- Licensing Requirements
  • 1. Continuing Education
  • 2. Renewal Procedures
  • 3. Producer Licensing
Topic 5: Annuities- Annuity Principles
  • 1. Variable Annuities
  • 2. Fixed Annuities
  • 3. Indexed Annuities
- Annuity Benefit Options
  • 1. Joint and Survivor
  • 2. Period Certain
  • 3. Life Income

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

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

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

Correct Answer: A  🗳️

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

A policyholder uses a Section 1035 exchange to replace an existing life insurance policy. If the new policy is later surrendered, the gain realized on termination is taxed as:

  • A. Ordinary income plus a 10% surcharge
  • B. A capital gain
  • C. A deferred capital gain
  • D. Ordinary income
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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

How many days does a former employee have to convert a group term policy to an individual policy after employment is terminated?

  • A. 10
  • B. 31
  • C. 30
  • D. 20
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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

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

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

Correct Answer: D  🗳️

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

Which one of the following life insurance settlement options pays a predetermined monthly benefit until principal and interest are exhausted?

  • A. The fixed period installment option
  • B. The accelerated endowment option
  • C. The fixed amount installment option
  • D. The interest-only option
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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

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