Smartly Prepare Exam with Free Online Life-Producer Practice Test

We offer the latest Life-Producer practice test designed for free and effective online Maryland Life Producer Exam (Series 20-27) certification preparation. It's a simulation of the real Life-Producer exam experience, built to help you understand the structure, complexity, and topics you'll face on exam day.

Question 1

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

Options :

A : Ethnic heritage

B : Amount of insurance applied for

C : Driving record

D : Family health history

Answer: A

Question 2

Who normally receives dividends in a stock insurance company?

Options :

A : Only members of the board of directors

B : Shareholders

C : Beneficiaries

D : Producers

Answer: B

Question 3

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

Options :

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 4

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

Options :

A : 5%

B : 10%

C : 20%

D : 50%

Answer: B

Question 5

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

Options :

A : The appointing insurer

B : The continuing education course provider

C : The Maryland Insurance Administration

D : The Attorney General

Answer: C