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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Federal Tax Considerations- Qualified Plans
  • 1. 401(k)
  • 2. Retirement Planning Concepts
  • 3. IRA
- Life Insurance Taxation
  • 1. Premiums
  • 2. Cash Values
  • 3. Death Benefits
Topic 2: Annuities- Annuity Benefit Options
  • 1. Joint and Survivor
  • 2. Period Certain
  • 3. Life Income
- Annuity Principles
  • 1. Indexed Annuities
  • 2. Variable Annuities
  • 3. Fixed Annuities
Topic 3: Maryland Insurance Laws and Regulations- Licensing Requirements
  • 1. Producer Licensing
  • 2. Renewal Procedures
  • 3. Continuing Education
- Regulatory Practices
  • 1. Ethics Standards
  • 2. Unfair Trade Practices
  • 3. Consumer Protection
Topic 4: Life Insurance Policy Riders and Provisions- Policy Provisions
  • 1. Beneficiaries
  • 2. Ownership
  • 3. Policy Loans
  • 4. Assignments
- Policy Riders
  • 1. Guaranteed Insurability
  • 2. Waiver of Premium
  • 3. Accidental Death
Topic 5: Types of Policies- Traditional Whole Life Products
  • 1. Limited-Pay and Single-Premium Life
  • 2. Ordinary Whole Life
- Term Life Insurance
  • 1. Decreasing Term
  • 2. Renewable and Convertible Term
  • 3. Level Term
- Interest-Sensitive Life Products
  • 1. Universal Life
  • 2. Variable Life
  • 3. Variable Universal Life

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

The amount received for a life insurance policy in a viatical settlement is:

  • A. Greater than the death benefit
  • B. Equal to the death benefit
  • C. Equal to the sum of all premiums paid
  • D. Less than the death benefit
Answer: D

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A transaction in which a new life insurance policy is purchased, and an existing life insurance policy is surrendered is called:

  • A. Reinvestment
  • B. Rollover
  • C. Replacement
  • D. Nonforfeiture
Answer: C

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In determining the payment of accelerated life insurance benefits, all of the following are considered activities of daily living EXCEPT:

  • A. Dressing
  • B. Eating
  • C. Bathing
  • D. Speaking
Answer: D

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An insurable interest in each other's lives may exist in the absence of an economic interest when the individuals are:

  • A. Business associates
  • B. Competitors
  • C. Traveling companions
  • D. Marriage partners
Answer: D

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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. Beneficiary of the policy
  • C. Physician that furnished medical information to the insurer
  • D. Physician of the applicant's choice upon the request of the applicant
Answer: D

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