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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: General Insurance Concepts15%- Fundamental principles
  • 1. Risk and hazard
    • 2. Insurable interest
      • 3. Contract law basics
        Topic 2: Insurance Regulation15%- State insurance laws and administration
        • 1. Regulation of agents and insurers
          • 2. Unfair trade practices
            • 3. Licensing requirements and authority
              Topic 3: Life Insurance Policies25%- Policy types and provisions
              • 1. Term, whole life, universal life
                • 2. Policy clauses and riders
                  • 3. Beneficiary designations
                    Topic 4: Life Insurance Underwriting and Premiums15%- Risk assessment and pricing
                    • 1. Classification of risks
                      • 2. Premium calculation factors
                        • 3. Underwriting process
                          Topic 5: Annuities and Retirement Products15%- Types and features
                          • 1. Distribution options
                            • 2. Fixed and variable annuities
                              • 3. Tax-qualified plans
                                Topic 6: Federal and State Tax Considerations10%- Tax treatment of policies and benefits
                                • 1. Income tax implications
                                  • 2. Tax-deferred growth
                                    • 3. Estate tax aspects

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

                                      1. Publishing a derogatory article about the financial condition of an insurer that is false and calculated to injure the insurer is an example of:

                                      A) Intimidation
                                      B) Coercion
                                      C) Defamation
                                      D) Extortion


                                      2. Publishing a derogatory article about the financial condition of an insurer that is false and calculated to injure the insurer is an example of:

                                      A) Intimidation
                                      B) Coercion
                                      C) Defamation
                                      D) Extortion


                                      3. The Medical Information Bureau may release information in the proposed insured's file to:

                                      A) The insured's employer
                                      B) Employment agencies
                                      C) Member insurance companies
                                      D) Any physician


                                      4. The needs approach to personal life insurance planning includes the creation of an emergency reserve fund.
                                      This fund is designed primarily to:

                                      A) Pay for college tuition and books
                                      B) Cover the cost of unexpected expenses
                                      C) Provide retirement income
                                      D) Pay off an existing mortgage


                                      5. When a wage earner dies, the surviving family members may have all of the following expenses EXCEPT:

                                      A) Family living expenses
                                      B) Final expenses
                                      C) Death taxes
                                      D) Unemployment tax liabilities


                                      Solutions:

                                      Question # 1
                                      Answer: C
                                      Question # 2
                                      Answer: C
                                      Question # 3
                                      Answer: C
                                      Question # 4
                                      Answer: B
                                      Question # 5
                                      Answer: D

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