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Updated: Sep 17, 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
Related Certifications:Maryland Property & Casualty Producer License
Maryland Health Insurance Producer License
Available Languages:English
Exam Format:Multiple-choice
Recommended Training:Maryland Insurance Pre-Licensing Education Providers (State-approved list)
PSI Exam Candidate Information Bulletin
Exam Registration:PSI Maryland Insurance Licensing Exam Registration
Maryland Insurance Administration Licensing Information
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
Life Insurance Products- Annuities
  • 1. Fixed and variable annuities
    • 2. Immediate and deferred annuities
      - Term life insurance
      • 1. Level term, decreasing term
        - Permanent life insurance
        • 1. Variable life
          • 2. Universal life
            • 3. Whole life
              Insurance Fundamentals- Risk management principles
              • 1. Methods of handling risk (avoidance, retention, transfer)
                • 2. Pure vs speculative risk
                  - Insurance concepts
                  • 1. Insurable interest
                    • 2. Utmost good faith
                      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
                              Policy Provisions and Riders- Common riders
                              • 1. Waiver of premium
                                • 2. Living benefits riders
                                  • 3. Accidental death benefit
                                    - Life insurance policy clauses
                                    • 1. Suicide clause
                                      • 2. Incontestability clause
                                        • 3. Grace period

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

                                          Question #1

                                          Which of the following statements about cash values in whole life insurance policies is true?

                                          • A. They cannot be guaranteed.
                                          • B. They equal the policy face value at age 65.
                                          • C. They typically increase until age 65 and remain level thereafter.
                                          • D. They result from the level premium concept.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: D  🗳️

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                                          Question #2

                                          How does the payment of an accelerated benefit affect a life insurance policy?

                                          • A. It increases the policy premium.
                                          • B. It decreases the grace period.
                                          • C. It decreases the death benefit.
                                          • D. It increases the cash value.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: C  🗳️

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                                          Question #3

                                          Splitting the commission with the buyer on a sale of insurance is an unfair trade practice known as:

                                          • A. Soliciting
                                          • B. Rebating
                                          • C. Binding
                                          • D. Twisting
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

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                                          Question #4

                                          If a life insurer denies a policy of life insurance, the insurer shall disclose the results of any medicalexamination administered to determine insurability to the:

                                          • A. Physician of the applicant's choice upon the request of the applicant
                                          • B. Physician that furnished medical information to the insurer
                                          • C. Company's underwriter
                                          • D. Beneficiary of the policy
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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                                          Question #5

                                          A valid contract requires all of the following EXCEPT:

                                          • A. Written evidence
                                          • B. Consideration
                                          • C. Competent parties
                                          • D. Offer and acceptance
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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