Updated: Jul 28, 2026
No. of Questions: 85 Questions & Answers with Testing Engine
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| Certification Vendor: | Maryland Insurance Administration |
| Exam Name: | Maryland Life Producer Exam (Series 20-27) |
| Exam Number: | Series 20-27 / Life-Producer |
| Certificate Validity Period: | 2 years |
| Related Certifications: | Maryland Accident and Health Producer Maryland Life and Health Producer Combo |
| Passing Score: | 70% |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Real Exam Qty: | 85 |
| Exam Price: | $60 USD |
| Exam Format: | Multiple Choice |
| Recommended Training: | Sircon Approved Courses |
| Exam Registration: | Prometric Registration |
| Sample Questions: | Maryland Insurance Administration Life-Producer Sample Questions |
| Exam Way: | Computer-based; Onsite at Prometric test centers or remotely proctored via ProProctor |
| Pre Condition: | Minimum age 18; Maryland resident or non-resident eligible; Completion of approved pre-licensing education (or exemption for eligible designations: CLU, ChFC, CFP, etc.) |
| Official Syllabus URL: | https://www.prometric.com/files/2023-05/MDINS%20LIB%204.2023.pdf |
| Section | Weight | Objectives |
|---|---|---|
| Annuities and Retirement Products | 15% | - Types and features
|
| Life Insurance Policies | 25% | - Policy types and provisions
|
| Federal and State Tax Considerations | 10% | - Tax treatment of policies and benefits
|
| General Insurance Concepts | 15% | - Fundamental principles
|
| Insurance Regulation | 15% | - State insurance laws and administration
|
| Life Insurance Underwriting and Premiums | 15% | - Risk assessment and pricing
|
1. A universal life insurance policy can be described most accurately as a combination of:
A) A flexible premium deposit fund and a monthly renewable term insurance policy
B) An endowment policy and an interest-sensitive deposit fund
C) A mutual fund and a whole life insurance policy
D) A term insurance policy and an annuity
2. The annual addition to an employee's account in a qualified retirement plan:
A) Must be the same dollar amount for every full-time employee
B) Can be any amount as determined by the employer from year to year
C) Usually reflects the employee's individual work performance each year
D) Cannot exceed maximum limits set by the Internal Revenue Service
3. Who normally receives dividends in a stock insurance company?
A) Shareholders
B) Only members of the board of directors
C) Beneficiaries
D) Producers
4. Which advantage does an employer gain by providing a qualified retirement plan, as contrasted to a non- qualified plan?
A) It can be designed for the exclusive benefit of several key employees
B) It is useful in rewarding selected employees for good work performance
C) The employer's contributions to the plan are tax deductible
D) The plan funds are available for general business needs
5. An employee with $50,000 group life insurance coverage terminates employment and submits an application WITHOUT the initial premium for a $50,000 conversion policy. If the employee dies 15 days later, the insurer would pay:
A) $50,000 under the new policy, less the initial premium amount due
B) $50,000 under the group plan
C) Nothing at all
D) $50,000 under the new policy
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: B |
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