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

Life-Producer
  • Exam Code: Life-Producer
  • Exam Name: Maryland Life Producer Exam (Series 20-27)
  • Updated: Sep 13, 2025
  • Q & A: 85 Questions and Answers
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About Maryland Insurance Administration Life-Producer Exam guide

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

1. A life insurance policy beneficiary's life expectancy has a direct bearing upon:

A) The total amount payable under the policy as a result of the insured's death
B) The premium rate for each $1,000 of face amount
C) The policy value that will be includable in the insured's estate
D) The taxable portion of each benefit payment under a life income settlement option


2. A producer is prohibited from:

A) Allowing an applicant to sign a blank or incomplete application
B) Countersigning a policy sold in Maryland
C) Splitting commissions with a licensed nonresident producer who has jointly sold a policy
D) Selling insurance to family members


3. 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


4. To determine whether unfair trade practices have been violated, who has the power to examine an insurer's books and records?

A) The Federal Deposit Insurance Corporation
B) The Maryland Insurance Administration
C) The Maryland Property & Casualty Insurance Guaranty Corporation (PCIGC)
D) The National Association of Insurance Commissioners


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

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


Solutions:

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

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