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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Updated: Jul 22, 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 Property & Casualty Producer License Maryland Health Insurance 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:

Section	Objectives
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:

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

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

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

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

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

Solutions:

Question # 1
Answer: D

Question # 2
Answer: A

Question # 3
Answer: D

Question # 4
Answer: C

Question # 5
Answer: A

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