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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Annuities and Retirement Products | 15% | - Types and features
|
| General Insurance Concepts | 15% | - Fundamental principles
|
| Federal and State Tax Considerations | 10% | - Tax treatment of policies and benefits
|
| Life Insurance Underwriting and Premiums | 15% | - Risk assessment and pricing
|
| Life Insurance Policies | 25% | - Policy types and provisions
|
| Insurance Regulation | 15% | - State insurance laws and administration
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
Which activity is an unfair claims settlement practice?
- A. Including an arbitration provision in the insurer's policies
- B. Negotiating the payment of claims where coverage or liability is in question
- C. Offering settlements that are less than the fair value to offset insurer expenses
- D. Denying claims on the basis of specific policy provisions
Correct Answer: C 🗳️
Explanation: Only visible for ValidExam members. You can sign-up / login (it's free).
A life insurance policy becomes incontestable after it has been in force for:
- A. 3 years
- B. 2 years
- C. 30 days
- D. 6 months
Correct Answer: B 🗳️
Explanation: Only visible for ValidExam members. You can sign-up / login (it's free).
A life insurance producer is normally responsible for all of the following EXCEPT:
- A. Delivering newly issued policies to applicants
- B. Notifying the company if a new policy will replace an existing policy
- C. Approving policies for issue on behalf of the insurer
- D. Collecting the initial premium from the applicant
Correct Answer: C 🗳️
Explanation: Only visible for ValidExam members. You can sign-up / login (it's free).
The purpose of the Life and Health Insurance Guaranty Corporation is to guarantee:
- A. The issuance of life insurance policies.
- B. Benefits if the insurer is unable to pay benefits due to impairment or insolvency.
- C. The issuance of life insurance and health insurance policies.
- D. That an insurance company will never fail.
Correct Answer: B 🗳️
Explanation: Only visible for ValidExam members. You can sign-up / login (it's free).
An insurer may refuse to underwrite a particular insurance applicant for a reason based wholly on:
- A. Race
- B. Medical condition
- C. Creed
- D. Gender
Correct Answer: B 🗳️
Explanation: Only visible for ValidExam members. You can sign-up / login (it's free).
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