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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: General Insurance Concepts | 15% | - Fundamental principles
|
| Topic 2: Life Insurance Underwriting and Premiums | 15% | - Risk assessment and pricing
|
| Topic 3: Federal and State Tax Considerations | 10% | - Tax treatment of policies and benefits
|
| Topic 4: Annuities and Retirement Products | 15% | - Types and features
|
| Topic 5: Life Insurance Policies | 25% | - Policy types and provisions
|
| Topic 6: Insurance Regulation | 15% | - State insurance laws and administration
|
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 taxable portion of each benefit payment under a life income settlement option
B) The total amount payable under the policy as a result of the insured's death
C) The policy value that will be includable in the insured's estate
D) The premium rate for each $1,000 of face amount
2. Which one of the following life insurance settlement options pays a predetermined monthly benefit until principal and interest are exhausted?
A) The accelerated endowment option
B) The interest-only option
C) The fixed amount installment option
D) The fixed period installment option
3. 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) A capital gain
B) Ordinary income
C) A deferred capital gain
D) Ordinary income plus a 10% surcharge
4. A life insurance producer is normally responsible for all of the following EXCEPT:
A) Collecting the initial premium from the applicant
B) Delivering newly issued policies to applicants
C) Approving policies for issue on behalf of the insurer
D) Notifying the company if a new policy will replace an existing policy
5. Which life annuity contract feature provides that benefit payments will continue for a minimum number of years regardless of when the annuitant dies?
A) Cost recovery
B) Period certain
C) Installment refund
D) Cash refund
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: B |





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