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Updated: Sep 08, 2026

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Maryland Insurance Administration Life-Producer Exam Overview:

Certification Vendor:Maryland Insurance Administration
Exam Name:Maryland Life Insurance Producer Examination (Life Producer)
Exam Number:Series 20-27
Exam Format:Multiple-choice
Available Languages:English
Related Certifications:Maryland Health Insurance Producer License
Maryland Property & Casualty Producer License
Recommended Training:Maryland Insurance Pre-Licensing Education Providers (State-approved list)
PSI Exam Candidate Information Bulletin
Exam Registration:PSI Maryland Insurance Licensing Exam Registration
Maryland Insurance Administration Licensing Information
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

Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionObjectives
Policy Provisions and Riders- Common riders
  • 1. Waiver of premium
    • 2. Accidental death benefit
      • 3. Living benefits riders
        - Life insurance policy clauses
        • 1. Grace period
          • 2. Incontestability clause
            • 3. Suicide clause
              State Regulation (Maryland Insurance Law)- Producer licensing requirements
              • 1. License application process
                • 2. Pre-licensing education requirements
                  - Ethics and conduct
                  • 1. Misrepresentation rules
                    • 2. Unfair trade practices
                      Life Insurance Products- Permanent life insurance
                      • 1. Whole life
                        • 2. Variable life
                          • 3. Universal life
                            - Term life insurance
                            • 1. Level term, decreasing term
                              - Annuities
                              • 1. Immediate and deferred annuities
                                • 2. Fixed and variable annuities
                                  Insurance Fundamentals- Risk management principles
                                  • 1. Pure vs speculative risk
                                    • 2. Methods of handling risk (avoidance, retention, transfer)
                                      - Insurance concepts
                                      • 1. Insurable interest
                                        • 2. Utmost good faith

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

                                          Question #1

                                          One factor in premium determination is the expenses of the:

                                          • A. Producer
                                          • B. Insurer
                                          • C. Policy beneficiary
                                          • D. Policy owner
                                          Answer: B

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                                          Question #2

                                          Which of the following statements about participating life insurance is true?

                                          • A. The insurer must be a stock company.
                                          • B. Policyowners are assessed monthly for losses.
                                          • C. Policyowners may be entitled to receive dividends.
                                          • D. The insured must be the policyowner.
                                          Answer: C

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                                          Question #3

                                          The free-look period provided in a life insurance policy is usually:

                                          • A. 10 days
                                          • B. 45 days
                                          • C. 31 days
                                          • D. 60 days
                                          Answer: A

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                                          Question #4

                                          Which contract offers flexible deposits, deferred taxation, a guaranteed minimum interest rate, and death proceeds equal to the cash value?

                                          • A. A flexible premium fixed annuity
                                          • B. An adjustable whole life insurance policy
                                          • C. A universal life insurance policy
                                          • D. Available deferred annuity
                                          Answer: A

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                                          Question #5

                                          An insurance agent's license may be revoked for all of the following reasons EXCEPT:

                                          • A. Having no insurer appointment in effect for ten days
                                          • B. Having been found guilty of rebating
                                          • C. Violating any insurance statute or regulation
                                          • D. Being convicted of a felony
                                          Answer: A

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