2025 UPDATED LIFE-PRODUCER CERT EXAM | 100% FREE LATEST LIFE-PRODUCER EXAM PRACTICE

2025 Updated Life-Producer Cert Exam | 100% Free Latest Life-Producer Exam Practice

2025 Updated Life-Producer Cert Exam | 100% Free Latest Life-Producer Exam Practice

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Tags: Life-Producer Cert Exam, Latest Life-Producer Exam Practice, Pdf Life-Producer Format, Life-Producer Reliable Dumps Ppt, Premium Life-Producer Exam

While making revisions and modifications to the Maryland Insurance Administration Life-Producer practice exam, our team takes reports from over 90,000 professionals worldwide to make the Maryland Insurance Administration Life-Producer Exam Questions foolproof. To make you capable of preparing for the Life-Producer exam smoothly, we provide actual Maryland Insurance Administration Life-Producer exam dumps.

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Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions (Q41-Q46):

NEW QUESTION # 41
Who normally receives dividends in a stock insurance company?

  • A. Producers
  • B. Shareholders
  • C. Beneficiaries
  • D. Only members of the board of directors

Answer: B

Explanation:
Comprehensive and Detailed Step by Step Explanation:In astock insurance company, shareholders are the owners and receive dividends from the company's profits.
* Shareholders (B):They are entitled to dividends when declared by the board of directors, based on profitability.
* Board of directors (A):Oversee corporate governance and do not individually receive dividends as a right.
* Beneficiaries (C):Receive policy death benefits, not dividends.
* Producers (D):Earn commissions or fees, not dividends.
References:Maryland Corporate Insurance Structure Rules, Stock vs. Mutual Insurer Regulations, COMAR
31.05.03.


NEW QUESTION # 42
A group policy may be issued to a labor union. The members eligible for insurance under the policy shall be:

  • A. Only members of the union who are under the age of 65
  • B. Members of any union
  • C. Healthy members of the union
  • D. All of the members of the union

Answer: D

Explanation:
Comprehensive and Detailed Step by Step Explanation:When a group policy is issued to a labor union, Maryland law requires that eligibility criteria ensure fairness and inclusivity:
* All of the members of the union (B):Eligible members must be treated equally under the group policy.
Coverage cannot exclude individuals based on factors like age or health, provided they are active members.
* Members of any union (A):Policies are issued to specific unions, not broadly.
* Only members under age 65 (C):Age discrimination is prohibited unless specifically linked to policy provisions.
* Healthy members (D):Group policies cannot discriminate based on health status.
References:Maryland Group Insurance Regulations, COMAR 31.09.06, and Labor Union Group Policies Guidelines.


NEW QUESTION # 43
The Maryland Insurance Administration may suspend an agent's license for all of the following reasons EXCEPT:

  • A. Violating a regulation or order of the Maryland Insurance Administration
  • B. Mishandling premium payments
  • C. Sharing commissions with agents holding the same license type
  • D. Engaging in fraudulent or dishonest practices

Answer: C

Explanation:
Comprehensive and Detailed Step by Step Explanation:
The Maryland Insurance Administration enforces disciplinary measures:
Fraudulent practices (A), mishandling premiums (B), and violating regulations (D) are grounds for suspension or revocation.
Sharing commissions (C) with agents of the same license type is permitted under Maryland law if done legally and transparently.
References: Maryland Insurance Administration Regulatory Code and Enforcement Procedures.


NEW QUESTION # 44
A universal life insurance policy can be described most accurately as a combination of:

  • A. An endowment policy and an interest-sensitive deposit fund
  • B. A term insurance policy and an annuity
  • C. A mutual fund and a whole life insurance policy
  • D. A flexible premium deposit fund and a monthly renewable term insurance policy

Answer: D

Explanation:
Comprehensive and Detailed Step by Step Explanation:Universal life insurance is a flexible product that combines features of term insurance and a savings component:
* Flexible premium deposit fund and a monthly renewable term insurance policy (D):Universal life allows policyholders to adjust premiums and coverage amounts. The policy includes a savings element (cash value) and provides renewable term insurance protection.
* Mutual fund and whole life insurance policy (A):Incorrect, as universal life does not involve mutual funds or strict whole life coverage.
* Term insurance and an annuity (B):Universal life lacks the payout structure of an annuity.
* Endowment and interest-sensitive deposit fund (C):While it includes interest-sensitive growth, it is not structured as an endowment policy.
References:Maryland Life Insurance Product Guidelines, Universal Life Policy Features, and COMAR
31.09.13.


NEW QUESTION # 45
One factor in premium determination is the expenses of the:

  • A. Insurer
  • B. Policy owner
  • C. Producer
  • D. Policy beneficiary

Answer: A

Explanation:
Comprehensive and Detailed Step by Step Explanation:Theinsurer's expensesare a critical factor in premium calculations. Insurers must cover operational costs, claims payouts, reserves, and regulatory compliance while ensuring profitability.
* Insurer (B):Correct. Expenses such as underwriting, administrative costs, and agent commissions are incorporated into the premium.
* Producer (A):Costs are included indirectly through commissions but are not a direct factor.
* Policy beneficiary (C):Plays no role in premium determination.
* Policy owner (D):Pays the premium but does not influence expense considerations.
References:Maryland Insurance Premium Guidelines, Rate Filing Requirements, and COMAR 31.05.02.


NEW QUESTION # 46
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