Maryland Life and Health Insurance Agent Exam

Need of a License: An individual who is acting as an agent or producer needs a license to sell life and health insurance in Maryland.

Who Grants a License: Licenses are granted by the Maryland Insurance Administration.
Life and Health Insurance Agent Exam
Qualifications to receive a License
: Individuals who wish to obtain an insurance license in the State of Maryland:
 
1. Be at least eighteen (18) years of age.
2. Be a resident of Maryland.
3. Pay the required fee.
4. Complete and submit the NAIC Uniform Individual Application
5. Complete required prelicense education requirements.
6. Pass the examination.
7. Apply for a license.
 
Prelicense Education Requirements and Applying for the Producer Exam:  PSI is the Maryland Insurance Administration’s current vendor for Pre-Licensing and Examination Services. You may view approved pre-licensing providers and courses, schedule an examination, or download a copy of the Maryland Candidate Information Bulletin on their website, www.psiexams.com.

Test Information: The PSI Maryland Life, Accident & Health Producer Combined Examination Content Outline contains specific content information beyond the following general outline:
 
LIFE, ACCIDENT & HEALTH PRODUCER COMBINED EXAMINATION
 
General Portion: 110 items, 70% minimum passing score, 180 minutes
State Portion: 20 items, 70% minimum passing score, 30 minutes
Both: 130 items, 70% minimum passing score, 210 minutes
 
I. GENERAL PORTION: COMMON TO LIFE AND A&H INSURANCE 
A. Concepts (2 Items)
B. Insurers (2 Items)
C. Producers and General Rules of Agency (1 Item)
D. Contracts (2 Items)
E. Federal Regulation (1 Item)
F. Industry Associations (1 Item)

II. LIFE INSURANCE BASICS
A. Insurable Interest (1 Item)
B. Personal Uses of Life Insurance (2 Items)
C. Viatical/Life Settlements (2 Items)
D. Determining Amount of Personal Life Insurance (2 Items)
E. Business Uses of Life Insurance (1 Item)
F. Classes of Life Insurance Policies (2 Items)
G. Premiums (1 Item)
H. Producer Responsibilities (2 Items)
I. Individual Underwriting by the Insurer (2 Items)

III. LIFE INSURANCE POLICIES
A. Term Life Insurance (1 Item)
B. Whole Life Insurance (2 Items)
C. Flexible Premium Policies (2 Items)
D. Specialized Policies (2 Items)
E. Group Life Insurance (2 Items)

IV. LIFE INSURANCE POLICY PROVISIONS, OPTIONS AND RIDERS
A. Standard Provisions (2 Items)
B. Beneficiaries (1 Item)
C. Life Insurance Settlement Options (1 Item)
D. Nonforfeiture Options (2 Items)
E. Policy Loan and Withdrawal Options (1 Item)
F. Dividend Options (1 Item)
G. Disability Riders (1 Item)
H. Accelerated (Living) Benefit Provision – Rider (1 Item)
I. Riders Covering Additional Insureds (1 Item)

V. ANNUITIES
A. Annuity Principles and Concepts (2 Items)
B. Immediate versus Deferred Annuities (1 Item)
C. Annuity (Benefit) Payment Options (1 Item)
D. Annuity Products (1 Item)
E. Uses of Annuities (2 Items)

VI. FEDERAL TAX CONSIDERATIONS FOR LIFE INSURANCE AND ANNUITIES
A. Taxation of Personal Life Insurance (1 Item)
B. Modified Endowment Contracts (MECs) (2 Items)
C. Taxation of Non-Qualified Annuities (1 Item)
D. Taxation of Qualified Plans (2 Items)
E. Section 1035 Exchanges (1 Item)
F. Taxation of Business Life Insurance (1 Item) 

VII. HEALTH INSURANCE BASICS
A. Definitions of Perils (1 Item)
B. Principal Types of Losses and Benefits (2 Items)
C. Classes of Health Insurance Policies (1 Item)
D. Limited Policies (1 Item)
E. Common Exclusions from Coverage (1 Item)
F. Producer Responsibilities in Individual Health Insurance
G. Individual Underwriting by the Insurer (2 Items)
H. Considerations in Replacing Health Insurance (1 Item)

VIII. INDIVIDUAL HEALTH INSURANCE POLICY GENERAL PROVISIONS
A. Uniform Required Provisions (2 Items)
B. Uniform Optional Provisions (1 item)
C. Other General Provisions (1 item)

IX. DISABILITY INCOME AND RELATED INSURANCE 
A. Individual Disability Income Insurance (2 Items)
B. Qualifying for Disability Benefits (1 Item)
C. Aspects of Individual Disability Underwriting (1 Item)
D. Group Disability Income Insurance (1 Item)
E. Business Disability Insurance (1 Item)
F. Social Security Disability (1 Item)

X. MEDICAL PLANS  
A. Medical Plan Concepts (2 Items)
B. Types of Providers (2 Items)
C. Types of Plans (2 Items)
D. Cost Containment (1 Item)
E. HIPAA (Health Insurance Portability and Accountability Act) Requirements (1 Item)
F. Patient Protection and Affordable Care Act (4 items)

XI. GROUP HEALTH INSURANCE 
A. Characteristics of Group Insurance (1 item)
B. Defined Groups (1 Item)
C. Marketing Considerations (1 Item)
D. Employer Group Health Insurance (1 item)

XII. DENTAL INSURANCE
A. Dental Plans (1 Item)

XIII. HEALTH INSURANCE FOR SENIOR CITIZENS AND SPECIAL NEEDS INDIVIDUALS
A. Medicare (2 Items)
B. Medicare Supplement Insurance (2 Items)
C. Other Options for Individuals with Medicare (1 Item)

XIV. FEDERAL TAX CONSIDERATIONS FOR HEALTH INSURANCE
A. Personally-Owned Health Insurance (1 Item)
B. Employer Group Health Insurance (1 Item)
C. Business Disability Insurance (1 Item)
D. HSAs and HRAs (1 Item)

XV. LONG-TERM CARE (LTC) POLICIES
A. Contract Terms (2 Items)
B. Interaction with Other Coverage (1 Item) 

XVI. MARYLAND STATE SPECIFIC PORTION COMMON TO LIFE and A&H INSURANCE REGULATION
A. Licensing (4 Items)
B. State Regulation (6 Items)

XVII. MARYLAND STATE PORTION: SPECIFIC TO LIFE INSURANCE
A. State Requirements (3 Items)

XVIII. MARYLAND STATE PORTION: SPECIFIC TO ACCIDENT & HEALTH INSURANCE
A. Types of Providers (2 Items)
B. Medical Plans: State Requirements (4 Items)
C. Long-Term Care Tax Credits (1 Item)
 
How to Apply for the License: Applications may be submitted via paper or electronically through NIPR (www.nipr.com). Paper applications are normally processed within 3-5 business days and should be mailed to:

The Maryland Insurance Administration
Attn: Producer Licensing 200 St. Paul Place, Suite 2700
Baltimore, Maryland 21202

License Renewal Requirements: Individual Producer licenses must be renewed every two years and there is a continuing education requirement.

Applicable Regulations: Life and health insurance agents in Maryland are regulated by the Maryland Insurance Administration.
 

For more information on life and health insurance agent licensing and exam preparation, go to Tests.com’s Life and Health Insurance Exam Guide.

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