Updated: Aug 27, 2026
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| 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: | 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 |
| Section | Objectives |
|---|---|
| Life Insurance Products | - Permanent life insurance
|
| Policy Provisions and Riders | - Common riders
|
| Insurance Fundamentals | - Insurance concepts
|
| State Regulation (Maryland Insurance Law) | - Producer licensing requirements
|
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
Question 2
Which life annuity contract feature provides that benefit payments will continue for a minimum number of years regardless of when the annuitant dies?
A. Cash refund
B. Period certain
C. Cost recovery
D. Installment refund
Question 3
A producer is prohibited from:
A. Splitting commissions with a licensed nonresident producer who has jointly sold a policy
B. Selling insurance to family members
C. Countersigning a policy sold in Maryland
D. Allowing an applicant to sign a blank or incomplete application
Question 4
A group policy may be issued to a labor union. The members eligible for insurance under the policy shall be:
A. All of the members of the union
B. Healthy members of the union
C. Members of any union
D. Only members of the union who are under the age of 65
Question 5
Which contract offers flexible deposits, deferred taxation, a guaranteed minimum interest rate, and death proceeds equal to the cash value?
A. An adjustable whole life insurance policy
B. A flexible premium fixed annuity
C. Available deferred annuity
D. A universal life insurance policy
Solutions:
| Question 1 Answer: D | Question 2 Answer: B | Question 3 Answer: D | Question 4 Answer: A | Question 5 Answer: B |
| 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: | 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 |
| Section | Objectives |
|---|---|
| Life Insurance Products | - Permanent life insurance
|
| Policy Provisions and Riders | - Common riders
|
| Insurance Fundamentals | - Insurance concepts
|
| State Regulation (Maryland Insurance Law) | - Producer licensing requirements
|
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
Question 2
Which life annuity contract feature provides that benefit payments will continue for a minimum number of years regardless of when the annuitant dies?
A. Cash refund
B. Period certain
C. Cost recovery
D. Installment refund
Question 3
A producer is prohibited from:
A. Splitting commissions with a licensed nonresident producer who has jointly sold a policy
B. Selling insurance to family members
C. Countersigning a policy sold in Maryland
D. Allowing an applicant to sign a blank or incomplete application
Question 4
A group policy may be issued to a labor union. The members eligible for insurance under the policy shall be:
A. All of the members of the union
B. Healthy members of the union
C. Members of any union
D. Only members of the union who are under the age of 65
Question 5
Which contract offers flexible deposits, deferred taxation, a guaranteed minimum interest rate, and death proceeds equal to the cash value?
A. An adjustable whole life insurance policy
B. A flexible premium fixed annuity
C. Available deferred annuity
D. A universal life insurance policy
Solutions:
| Question 1 Answer: D | Question 2 Answer: B | Question 3 Answer: D | Question 4 Answer: A | Question 5 Answer: B |
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