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Exam Code: Life-Producer
Exam Name: Maryland Life Producer Exam (Series 20-27)
Updated: Oct 03, 2026
Q & A: 85 Questions and Answers
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Life Insurance Policies | 25% | - Policy types and provisions
|
| Topic 2: Insurance Regulation | 15% | - State insurance laws and administration
|
| Topic 3: Life Insurance Underwriting and Premiums | 15% | - Risk assessment and pricing
|
| Topic 4: General Insurance Concepts | 15% | - Fundamental principles
|
| Topic 5: Annuities and Retirement Products | 15% | - Types and features
|
| Topic 6: Federal and State Tax Considerations | 10% | - Tax treatment of policies and benefits
|
The life insurance buyer's guide includes information about all of the following EXCEPT how to:
Correct Answer: C 🗳️
Explanation: Only visible for PassTorrent members. You can sign-up / login (it's free).
The penalty tax incurred for premature distributions from an IRA is:
Correct Answer: B 🗳️
Explanation: Only visible for PassTorrent members. You can sign-up / login (it's free).
An insurance producer who conducts business under an assumed or fictitious name must:
Correct Answer: A 🗳️
Explanation: Only visible for PassTorrent members. You can sign-up / login (it's free).
When an individual replaces a life insurance policy, the form entitled "Important Notice Replacement of Life Insurance or Annuities" is REQUIRED to be signed by:
Correct Answer: C 🗳️
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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:
Correct Answer: C 🗳️
Explanation: Only visible for PassTorrent members. You can sign-up / login (it's free).
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