Maryland Life Producer Exam (Series 20-27)
Last Update Apr 15, 2026
Total Questions : 90
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The purpose of regulation of insurance advertising is to do all of the following EXCEPT:
A life insurance producer is normally responsible for all of the following EXCEPT:
To provide the funds necessary to carry out the powers and duties of the Life and Health Insurance Guaranty Corporation, the Boards of Directors shall:
When a producer engages in unfair practices, all of the following are true EXCEPT:
(Which annuity pays a monthly benefit that begins approximately one month after issuance?)
A transaction in which a new life insurance policy is purchased, and an existing life insurance policy is surrendered is called:
Which amount may be deposited into a rollover individual retirement account (IRA) for the purpose of deferring income taxes?
Giving policyholders some part of the agent’s commission as an inducement to purchase insurance is an unfair trade practice known as:
How many days does a former employee have to convert a group term policy to an individual policy after employment is terminated?
The amount received for a life insurance policy in a viatical settlement is:
Which advantage is available to employees participating in a qualified profit-sharing plan?
An insurance agent's license may be revoked for all of the following reasons EXCEPT:
The provision in a life insurance policy that allows the policyowner to cancel the policy within a limited period of time after delivery of the policy and receive a full premium refund is the:
An insurance producer provided several examples to the applicant, persuasively demonstrating that the insurance coverage offered under the producer’s company policy was superior to a competitor’s product. The insurance producer knew he was misrepresenting or stretching the truth in order to induce the applicant to forfeit her current policy and purchase a similar but inferior insurance policy from him. The insurance producer is involved in which one of the following unfair trade practices?
If an insurer knowingly fails to enforce a policy provision on one occasion, the insurer may be prevented from enforcing it on a subsequent occasion by the principle of:
When an individual replaces a life insurance policy, the form entitled "Important Notice Replacement of Life Insurance or Annuities" is REQUIRED to be signed by:
Which activity requires an individual to be licensed as an adviser, rather than as a producer?
How does the payment of an accelerated benefit affect a life insurance policy?
(Which of the following best describes a renewable term life insurance policy?)
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:
When payment of the initial premium does NOT accompany the application, coverage under a life insurance policy normally begins:
Which contract offers flexible deposits, deferred taxation, a guaranteed minimum interest rate, and death proceeds equal to the cash value?
In general practice, which one of the following is true of the powers of the Maryland Insurance Administration with respect to access to a producer’s business records?
Typically, the premium for an individual mortgage protection life insurance policy:
In determining the payment of accelerated life insurance benefits, all of the following are considered activities of daily living EXCEPT:
All of the following factors may affect premium determination in individual life insurance EXCEPT:
Subject to certain limitations, the purpose of the Maryland Life and Health Insurance Guaranty Corporation is to protect various entities such as residents who are policyowners, beneficiaries, and annuitants. The intent is to protect the listed individuals against failure in the performance of contractual obligations due to:
An insurer may refuse to underwrite a particular insurance applicant for a reason based wholly on:
The life insurance buyer's guide includes information about all of the following EXCEPT how to:
The needs approach to personal life insurance planning includes the creation of an emergency reserve fund. This fund is designed primarily to:
The qualified first-time homebuyer distribution available in IRAs has a maximum lifetime limit per participant of:
All of the following are reasons for a business organization to purchase key person life insurance EXCEPT:
All of the following statements about universal life insurance are true EXCEPT:
One premium payment covers which period of time in a single premium whole life policy?
An applicant for life insurance must be informed that testing for Human Immunodeficiency Virus (HIV) infection is used to help determine:
The life insurance buyer's guide includes information about all of the following EXCEPT how to:
When the owner of a life insurance policy reserves the right to change the beneficiary, the arrangement is called:
Surrender and loan features are required in all of the following life insurance policies EXCEPT:
An individual purchased an annuity contract with $100,000 received in settlement of a lawsuit. No further purchase payments are permitted, and benefit payments are to start in 17 years. The contract is:
In general practice, can the Maryland Insurance Administration inspect the business records of an insurance company or agency?
TESTED 16 Apr 2026
