Free Practice Maryland Insurance Administration Life-Producer Exam Questions 2025

Stay ahead with 100% Free Maryland Life Producer Exam (Series 20-27) Life-Producer Dumps Practice Questions

Page: 1 / 18

Total 90 Questions | Updated On: Apr 11, 2025

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Question 1

The annual addition to an employee's account in a qualified retirement plan:

A : Can be any amount as determined by the employer from year to year

B : Must be the same dollar amount for every full-time employee

C : Cannot exceed maximum limits set by the Internal Revenue Service

D : Usually reflects the employee's individual work performance each year

Answer: C

Question 2

Who normally receives dividends in a stock insurance company?

A : Only members of the board of directors

B : Shareholders

C : Beneficiaries

D : Producers

Answer: B

Question 3

All of the following are common underwriting factors used by life insurance companies EXCEPT:

A : Ethnic heritage

B : Amount of insurance applied for

C : Driving record

D : Family health history

Answer: A

Question 4

An insurance producer's license may be suspended or revoked by:

A : The appointing insurer

B : The continuing education course provider

C : The Maryland Insurance Administration

D : The Attorney General

Answer: C

Question 5

The penalty tax incurred for premature distributions from an IRA is:

A : 5%

B : 10%

C : 20%

D : 50%

Answer: B

Page: 1 / 18

Total 90 Questions | Updated On: Apr 11, 2025

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