Updated: Aug 19, 2026
No. of Questions: 85 Questions & Answers with Testing Engine
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| 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: | Maryland Insurance Pre-Licensing Education Providers (State-approved list) PSI Exam Candidate Information Bulletin |
| 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 |
| Section | Objectives |
|---|---|
| Topic 1: Policy Provisions and Riders | - Common riders
|
| Topic 2: State Regulation (Maryland Insurance Law) | - Producer licensing requirements
|
| Topic 3: Insurance Fundamentals | - Risk management principles
|
| Topic 4: Life Insurance Products | - Annuities
|
1. An existing life insurance policy is sold by the policyowner to help finance the cost of a terminal illness. This is an example of:
A) A nonforfeiture option
B) A survivorship policy
C) A viatical settlement
D) An accelerated death benefit
2. How does the payment of an accelerated benefit affect a life insurance policy?
A) It increases the policy premium.
B) It decreases the grace period.
C) It decreases the death benefit.
D) It increases the cash value.
3. Which of the following reinforces the rule that ambiguities in insurance contracts should be interpreted in favor of the policyholder?
A) Retrocession
B) Reasonable expectations
C) Representation
D) Retention
4. The income benefits distributed during the liquidation phase of an annuity contract are normally payable to:
A) The nominator
B) The owner
C) The beneficiary
D) The annuitant
5. A refusal to do business with a particular individual or business is known as:
A) An injunction
B) A boycott
C) An estoppel
D) A binder
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: B |
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