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Updated: Sep 13, 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
Related Certifications:Maryland Property & Casualty Producer License
Maryland Health Insurance Producer License
Exam Format:Multiple-choice
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

Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

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

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

                                          Question #1

                                          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. Offering settlements that are less than the fair value to offset insurer expenses
                                          • D. Negotiating the payment of claims where coverage or liability is in question
                                          Reveal Solution  Discussion  0

                                          Correct Answer: C  🗳️

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                                          Question #2

                                          How long will income benefit payments continue under a life annuity with ten years certain?

                                          • A. Until the annuitant dies, or for ten years, whichever is longer
                                          • B. Until the annuitant dies, and for an additional ten years
                                          • C. Only until the annuitant dies, regardless of when death occurs
                                          • D. Only for ten years, regardless of how long the annuitant lives
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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                                          Question #3

                                          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
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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                                          Question #4

                                          How many days does a former employee have to convert a group term policy to an individual policy after employment is terminated?

                                          • A. 30
                                          • B. 31
                                          • C. 10
                                          • D. 20
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

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                                          Question #5

                                          A transaction in which a new life insurance policy is purchased, and an existing life insurance policy is surrendered is called:

                                          • A. Rollover
                                          • B. Replacement
                                          • C. Reinvestment
                                          • D. Nonforfeiture
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

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