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Updated: Aug 17, 2026
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| Certification Vendor: | Maryland Insurance Administration |
| Exam Name: | Maryland Life Insurance Producer Examination (Life Producer) |
| Exam Number: | Series 20-27 |
| Exam Format: | Multiple-choice |
| Related Certifications: | Maryland Property & Casualty Producer License Maryland Health Insurance Producer License |
| Available Languages: | English |
| 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 | - Annuities
|
| Policy Provisions and Riders | - Common riders
|
| State Regulation (Maryland Insurance Law) | - Ethics and conduct
|
| Insurance Fundamentals | - Risk management principles
|
1. Who normally receives dividends in a stock insurance company?
A) Shareholders
B) Only members of the board of directors
C) Beneficiaries
D) Producers
2. How long will income benefit payments continue under a life annuity with ten years certain?
A) Only for ten years, regardless of how long the annuitant lives
B) Until the annuitant dies, or for ten years, whichever is longer
C) Only until the annuitant dies, regardless of when death occurs
D) Until the annuitant dies, and for an additional ten years
3. In surrendering a life insurance contract for its cash value, the total of premiums paid less the total of any dividends received in cash or used to offset premiums is:
A) The gross proceeds
B) The loan value
C) The cash value
D) The cost basis
4. Which one of the following causes of death typically would be included under an accidental death rider attached to a life insurance policy?
A) Intentionally self-inflicted injuries
B) Illness or disease
C) War or acts of war
D) Automobile accidents resulting from the insured's negligence
5. What does the annuitant usually receive during the liquidation phase of an annuity?
A) Cash withdrawals upon request
B) Nothing
C) A lump sum
D) Benefit payments at regular intervals
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: D |
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