Free Maryland Insurance Administration Life-Producer Exam Questions

Become Maryland Insurance Administration Certified with updated Life-Producer exam questions and correct answers

Page: 1 / 18

Total 90 Questions | Updated On: Mar 25, 2025

Add To Cart

Question 1

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 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

The purpose of licensing insurance agents is to:

A : Limit the number of agents who do business within Maryland

B : Demonstrate that the agent is qualified to act on behalf of insurers in Maryland

C : Monitor insurance sales activity in Maryland

D : Regulate rates to prevent unfair discrimination among insureds

Answer: B

Question 4

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 5

All of the following statements about the life insurance protection provided by a family life insurance policy are true EXCEPT:

A : Most of the premium amount purchases whole life insurance for the head of the household

B : Life insurance coverage is provided automatically to children born during the policy period

C : Coverage is available only to heads of households who are 30 years old or younger

D : Coverage for dependents can be converted to whole life insurance without evidence of insurability

Answer: C

Page: 1 / 18

Total 90 Questions | Updated On: Mar 25, 2025

Add To Cart