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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Types of Policies | - Traditional Whole Life Products
|
| Federal Tax Considerations | - Life Insurance Taxation
|
| Maryland Insurance Laws and Regulations | - Regulatory Practices
|
| Annuities | - Annuity Principles
|
| Life Insurance Policy Riders and Provisions | - Policy Riders
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
1. Which contract offers flexible deposits, deferred taxation, a guaranteed minimum interest rate, and death proceeds equal to the cash value?
A) A flexible premium fixed annuity
B) An available deferred annuity
C) A universal life insurance policy
D) An adjustable whole life insurance policy
2. If, after submitting an application, a producer becomes aware of a material fact that may affect the underwriting decision, the producer's ethical responsibility requires that the producer:
A) Acknowledge the fact only if asked by the insurance company
B) Deny knowledge of the fact
C) Report the fact to the insurance company
D) Advise the applicant to amend the application
3. Which of the following statements about cash values in whole life insurance policies is true?
A) They result from the level premium concept.
B) They equal the policy face value at age 65.
C) They typically increase until age 65 and remain level thereafter.
D) They cannot be guaranteed.
4. An applicant for life insurance must be informed that testing for Human Immunodeficiency Virus (HIV) infection is used to help determine:
A) The effective date and term of coverage
B) The type of policy that will be issued
C) Whether an insurable interest exists
D) The insurability of the proposed insured
5. The Maryland Insurance Administration is an agency of the:
A) State government
B) Maryland General Assembly
C) National Association of Insurance Commissioners
D) Federal government
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: A |
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