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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

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

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

                                      Who normally receives dividends in a stock insurance company?

                                      • A. Only members of the board of directors
                                      • B. Producers
                                      • C. Shareholders
                                      • D. Beneficiaries
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for Lead2Passed members. You can sign-up / login (it's free).

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

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

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for Lead2Passed members. You can sign-up / login (it's free).

                                      Which life annuity contract feature provides that benefit payments will continue for a minimum number of years regardless of when the annuitant dies?

                                      • A. Installment refund
                                      • B. Cost recovery
                                      • C. Cash refund
                                      • D. Period certain
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Lead2Passed members. You can sign-up / login (it's free).

                                      If an insurer knowingly fails to enforce a policy provision on one occasion, the insurer may be prevented from enforcing it on a subsequent occasion by the principle of:

                                      • A. Waiver
                                      • B. Adhesion
                                      • C. Estoppel
                                      • D. Subrogation
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for Lead2Passed members. You can sign-up / login (it's free).

                                      All of the following factors may affect premium determination in individual life insurance EXCEPT:

                                      • A. Health
                                      • B. Age
                                      • C. Race
                                      • D. Occupation
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for Lead2Passed members. You can sign-up / login (it's free).

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