Maryland Insurance Administration Life-Producer Questions & Answers - in .pdf
- Vendor: Maryland Insurance Administration
- Exam Code: Life-Producer
- Exam Name: Maryland Life Producer Exam (Series 20-27)
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- Vendor: Maryland Insurance Administration
- Exam Code: Life-Producer
- Exam Name: Maryland Life Producer Exam (Series 20-27)
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.Maryland Insurance Administration Life-Producer Exam Overview:
| Certification Vendor: | Maryland Insurance Administration |
| Exam Name: | Maryland Life Insurance Producer Examination (Life Producer) |
| Exam Number: | Series 20-27 |
| Exam Format: | Multiple-choice |
| Related Certifications: | Maryland Property & Casualty Producer License Maryland Health Insurance Producer License |
| Available Languages: | English |
| Recommended Training: | PSI Exam Candidate Information Bulletin Maryland Insurance Pre-Licensing Education Providers (State-approved list) |
| Exam Registration: | Maryland Insurance Administration Licensing Information PSI Maryland Insurance Licensing Exam Registration |
| Sample Questions: | Maryland Insurance Administration Life-Producer Sample Questions |
| Exam Way: | Computer-based testing at authorized PSI testing centers (and/or approved remote proctoring depending on PSI availability in Maryland). |
| Pre Condition: | Completion of state-approved pre-licensing education course required before exam registration. |
| Official Syllabus URL: | https://insurance.maryland.gov |
Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: State Regulation (Maryland Insurance Law) | - Producer licensing requirements
|
| Topic 2: Life Insurance Products | - Annuities
|
| Topic 3: Policy Provisions and Riders | - Common riders
|
| Topic 4: Insurance Fundamentals | - Insurance concepts
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
1. The needs approach to personal life insurance planning includes the creation of an emergency reserve fund.
This fund is designed primarily to:
A) Provide retirement income
B) Pay off an existing mortgage
C) Cover the cost of unexpected expenses
D) Pay for college tuition and books
2. Which one of the following causes of death typically would be included under an accidental death rider attached to a life insurance policy?
A) Intentionally self-inflicted injuries
B) Automobile accidents resulting from the insured's negligence
C) War or acts of war
D) Illness or disease
3. How does the payment of an accelerated benefit affect a life insurance policy?
A) It increases the cash value.
B) It increases the policy premium.
C) It decreases the grace period.
D) It decreases the death benefit.
4. A universal life insurance policy can be described most accurately as a combination of:
A) A term insurance policy and an annuity
B) A mutual fund and a whole life insurance policy
C) An endowment policy and an interest-sensitive deposit fund
D) A flexible premium deposit fund and a monthly renewable term insurance policy
5. If a life insurer denies a policy of life insurance, the insurer shall disclose the results of any medicalexamination administered to determine insurability to the:
A) Company's underwriter
B) Physician of the applicant's choice upon the request of the applicant
C) Physician that furnished medical information to the insurer
D) Beneficiary of the policy
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: B |
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