Life-Producer Exam Dumps : Maryland Life Producer Exam (Series 20-27)

Comprehensive and Detailed Step by Step Explanation:Maryland law requires insurance licensees to complete continuing education (CE) everytwo years (B)to maintain their licenses:

CE ensures that agents remain informed about current laws, practices, and products.

Each year (A):Too frequent for most state requirements, including Maryland.

Every three years (C):Exceeds Maryland’s regulatory timeframe.

No requirement (D):Incorrect, as CE is mandatory for license renewal.

References:Maryland Insurance Code §10-116, Continuing Education Guidelines, and COMAR 31.03.02.

Comprehensive and Detailed Step by Step Explanation:Insurance producers using an assumed or fictitious name for their business must file the name with the Maryland Insurance Administration (MIA).

File the name with the Insurance Administration (A):This ensures transparency and compliance with regulatory standards.

Apply for an additional license (B):Not required; the existing license covers the producer.

Apply for an additional appointment (C):Applies when a producer represents multiple insurers, not for fictitious names.

Post a $10,000 bond (D):Irrelevant to this context.

References: Maryland Insurance Administration Guidelines on Producer Licensing and Business Names.

Comprehensive and Detailed Step by Step Explanation:Aflexible premium fixed annuityallows policyholders to make varying contributions while offering tax-deferred growth and a guaranteed minimum interest rate.

Flexible premium fixed annuity (C):Correct. Combines flexible payments with guaranteed returns and death proceeds equal to cash value.

Adjustable whole life (A):Involves fixed payments and lacks tax-deferred features.

Available deferred annuity (B):Vague and not specifically tied to these features.

Universal life (D):Provides death benefits but lacks guaranteed minimum interest rates.

References:Maryland Annuity Regulations, COMAR 31.09.08, and Fixed Annuity Product Guidelines.