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Maryland Insurance Administration Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Annuities | - Annuity Benefit Options
|
| Maryland Insurance Laws and Regulations | - Regulatory Practices
|
| Life Insurance Policy Riders and Provisions | - Policy Provisions
|
| Federal Tax Considerations | - Qualified Plans
|
| Types of Policies | - Term Life Insurance
|
Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions:
In order to qualify for a company convention, an insurance producer agrees to pay the first quarterly premium for the applicant for new insurance. This is called a:
- A. Loan
- B. Cost of doing business
- C. Rebate
- D. Gift
Explanation: Only visible for ITPassLeader members. You can sign-up / login (it's free).
The income benefits distributed during the liquidation phase of an annuity contract are normally payable to:
- A. The beneficiary
- B. The annuitant
- C. The nominator
- D. The owner
Explanation: Only visible for ITPassLeader members. You can sign-up / login (it's free).
How many days does a former employee have to convert a group term policy to an individual policy after employment is terminated?
- A. 10
- B. 31
- C. 20
- D. 30
Explanation: Only visible for ITPassLeader members. You can sign-up / login (it's free).
The penalty tax incurred for premature distributions from an IRA is:
- A. 50%
- B. 5%
- C. 10%
- D. 20%
Explanation: Only visible for ITPassLeader members. You can sign-up / login (it's free).
All of the following statements about the life insurance protection provided by a family life insurance policy are true EXCEPT:
- A. Coverage is available only to heads of households who are 30 years old or younger
- B. Coverage for dependents can be converted to whole life insurance without evidence of insurability
- C. Life insurance coverage is provided automatically to children born during the policy period
- D. Most of the premium amount purchases whole life insurance for the head of the household
Explanation: Only visible for ITPassLeader members. You can sign-up / login (it's free).
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