Exam Code: Life-Producer
Exam Name: Maryland Life Producer Exam (Series 20-27)
Certification Provider: Maryland Insurance Administration
Corresponding Certification: Maryland Insurance

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Life-Producer

Updated: Sep 14, 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
Available Languages:English
Exam Format:Multiple-choice
Related Certifications:Maryland Health Insurance Producer License
Maryland Property & Casualty Producer License
Recommended Training:PSI Exam Candidate Information Bulletin
Maryland Insurance Pre-Licensing Education Providers (State-approved list)
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- Life insurance policy clauses
  • 1. Grace period
    • 2. Incontestability clause
      • 3. Suicide clause
        - Common riders
        • 1. Waiver of premium
          • 2. Accidental death benefit
            • 3. Living benefits riders
              State Regulation (Maryland Insurance Law)- Producer licensing requirements
              • 1. Pre-licensing education requirements
                • 2. License application process
                  - Ethics and conduct
                  • 1. Misrepresentation rules
                    • 2. Unfair trade practices
                      Insurance Fundamentals- Insurance concepts
                      • 1. Insurable interest
                        • 2. Utmost good faith
                          - Risk management principles
                          • 1. Methods of handling risk (avoidance, retention, transfer)
                            • 2. Pure vs speculative risk
                              Life Insurance Products- Term life insurance
                              • 1. Level term, decreasing term
                                - Annuities
                                • 1. Fixed and variable annuities
                                  • 2. Immediate and deferred annuities
                                    - Permanent life insurance
                                    • 1. Variable life
                                      • 2. Whole life
                                        • 3. Universal life

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

                                          Question #1

                                          A policy of life insurance may NOT be delivered unless the policy has a:

                                          • A. Premium coupon book
                                          • B. Financial statement of the life insurance company
                                          • C. Notary seal
                                          • D. Legible and brief description of the policy on the first page
                                          Answer: D

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                                          Question #2

                                          The Maryland Insurance Administration may suspend an agent's license for all of the following reasons EXCEPT:

                                          • A. Sharing commissions with agents holding the same license type
                                          • B. Mishandling premium payments
                                          • C. Engaging in fraudulent or dishonest practices
                                          • D. Violating a regulation or order of the Maryland Insurance Administration
                                          Answer: A

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                                          Question #3

                                          A policyholder uses a Section 1035 exchange to replace an existing life insurance policy. If the new policy is later surrendered, the gain realized on termination is taxed as:

                                          • A. Ordinary income plus a 10% surcharge
                                          • B. A deferred capital gain
                                          • C. A capital gain
                                          • D. Ordinary income
                                          Answer: D

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                                          Question #4

                                          The life insurance buyer's guide includes information about all of the following EXCEPT how to:

                                          • A. Calculate
                                          • B. Compare life insurance policy requirements
                                          • C. Take civil action against an insurer
                                          • D. Decide how much life insurance to buy
                                          Answer: C

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                                          Question #5

                                          The entire contract provision in a life insurance policy states that the policy includes:

                                          • A. The application attached to the policy
                                          • B. The Medical Information Bureau report
                                          • C. The producer's report to the insurer
                                          • D. Any attending physician's statement
                                          Answer: A

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