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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Insurance Fundamentals | - Risk management principles
|
| Topic 2: Life Insurance Products | - Annuities
|
| Topic 3: Policy Provisions and Riders | - Common riders
|
| Topic 4: State Regulation (Maryland Insurance Law) | - Ethics and conduct
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
1. A universal life insurance policy can be described most accurately as a combination of:
A) A term insurance policy and an annuity
B) An endowment policy and an interest-sensitive deposit fund
C) A mutual fund and a whole life insurance policy
D) A flexible premium deposit fund and a monthly renewable term insurance policy
2. Who normally receives dividends in a stock insurance company?
A) Producers
B) Shareholders
C) Beneficiaries
D) Only members of the board of directors
3. An insurable interest in each other's lives may exist in the absence of an economic interest when the individuals are:
A) Competitors
B) Traveling companions
C) Marriage partners
D) Business associates
4. The purpose of licensing insurance agents is to:
A) Limit the number of agents who do business within Maryland
B) Regulate rates to prevent unfair discrimination among insureds
C) Demonstrate that the agent is qualified to act on behalf of insurers in Maryland
D) Monitor insurance sales activity in Maryland
5. Which of the following statements about participating life insurance is true?
A) Policyowners are assessed monthly for losses.
B) Policyowners may be entitled to receive dividends.
C) The insured must be the policyowner.
D) The insurer must be a stock company.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: B |







