Free Maryland Insurance Administration Life-Producer Practice Exam Questions and Answers 2026

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Total 90 Questions | Updated On: Apr 03, 2026

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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

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 3

One factor in premium determination is the expenses of the:

A : Producer

B : Insurer

C : Policy beneficiary

D : Policy owner

Answer: B

Question 4

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 5

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

Page: 1 / 18

Total 90 Questions | Updated On: Apr 03, 2026

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