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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| General Insurance Concepts | 15% | - Fundamental principles
|
| Insurance Regulation | 15% | - State insurance laws and administration
|
| Life Insurance Policies | 25% | - Policy types and provisions
|
| Annuities and Retirement Products | 15% | - Types and features
|
| Federal and State Tax Considerations | 10% | - Tax treatment of policies and benefits
|
| Life Insurance Underwriting and Premiums | 15% | - Risk assessment and pricing
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
The free-look period provided in a life insurance policy is usually:
- A. 10 days
- B. 60 days
- C. 31 days
- D. 45 days
Correct Answer: A 🗳️
Explanation: Only visible for BootcampPDF members. You can sign-up / login (it's free).
Which activity is an unfair claims settlement practice?
- A. Including an arbitration provision in the insurer's policies
- B. Denying claims on the basis of specific policy provisions
- C. Negotiating the payment of claims where coverage or liability is in question
- D. Offering settlements that are less than the fair value to offset insurer expenses
Correct Answer: D 🗳️
Explanation: Only visible for BootcampPDF members. You can sign-up / login (it's free).
In surrendering a life insurance contract for its cash value, the total of premiums paid less the total of any dividends received in cash or used to offset premiums is:
- A. The cost basis
- B. The cash value
- C. The gross proceeds
- D. The loan value
Correct Answer: A 🗳️
Explanation: Only visible for BootcampPDF members. You can sign-up / login (it's free).
A transaction in which a new life insurance policy is purchased, and an existing life insurance policy is surrendered is called:
- A. Replacement
- B. Rollover
- C. Reinvestment
- D. Nonforfeiture
Correct Answer: A 🗳️
Explanation: Only visible for BootcampPDF members. You can sign-up / login (it's free).
Which of the following reinforces the rule that ambiguities in insurance contracts should be interpreted in favor of the policyholder?
- A. Retention
- B. Representation
- C. Reasonable expectations
- D. Retrocession
Correct Answer: C 🗳️
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