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

Life-Producer exam collection

Exam Code: Life-Producer

Exam Name: Maryland Life Producer Exam (Series 20-27)

Updated: Aug 12, 2026

Q & A: 85 Questions and Answers

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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionObjectives
Policy Provisions and Riders- Common riders
  • 1. Accidental death benefit
    • 2. Living benefits riders
      • 3. Waiver of premium
        - Life insurance policy clauses
        • 1. Grace period
          • 2. Suicide clause
            • 3. Incontestability clause
              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
                          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
                                  State Regulation (Maryland Insurance Law)- Producer licensing requirements
                                  • 1. Pre-licensing education requirements
                                    • 2. License application process
                                      - Ethics and conduct
                                      • 1. Unfair trade practices
                                        • 2. Misrepresentation rules

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

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

                                          A) 30
                                          B) 31
                                          C) 20
                                          D) 10


                                          2. A producer may be guilty of misrepresentation if the producer:

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


                                          3. All of the following statements about the life insurance protection provided by a family life insurance policy are true EXCEPT:

                                          A) Coverage is available only to heads of households who are 30 years old or younger
                                          B) Life insurance coverage is provided automatically to children born during the policy period
                                          C) Most of the premium amount purchases whole life insurance for the head of the household
                                          D) Coverage for dependents can be converted to whole life insurance without evidence of insurability


                                          4. 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


                                          5. An insurer may refuse to underwrite a particular insurance applicant for a reason based wholly on:

                                          A) Medical condition
                                          B) Creed
                                          C) Gender
                                          D) Race


                                          Solutions:

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

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