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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Life Insurance Underwriting and Premiums | 15% | - Risk assessment and pricing
|
| Federal and State Tax Considerations | 10% | - Tax treatment of policies and benefits
|
| General Insurance Concepts | 15% | - Fundamental principles
|
| Life Insurance Policies | 25% | - Policy types and provisions
|
| Annuities and Retirement Products | 15% | - Types and features
|
| Insurance Regulation | 15% | - State insurance laws and administration
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
1. Splitting the commission with the buyer on a sale of insurance is an unfair trade practice known as:
A) Soliciting
B) Rebating
C) Twisting
D) Binding
2. 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:
A) Waiver
B) Adhesion
C) Estoppel
D) Subrogation
3. 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) Being convicted of a felony
C) Having been found guilty of rebating
D) Violating any insurance statute or regulation
4. The penalty tax incurred for premature distributions from an IRA is:
A) 20%
B) 5%
C) 10%
D) 50%
5. A life insurance producer is normally responsible for all of the following EXCEPT:
A) Notifying the company if a new policy will replace an existing policy
B) Approving policies for issue on behalf of the insurer
C) Collecting the initial premium from the applicant
D) Delivering newly issued policies to applicants
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: B |
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