Insurance Licensing Hawaii Life Producer Exam (InsHI_Life01 OPLife01) : Hawaii-Life-Producer

  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
  • Updated: Aug 30, 2026     Q & A: 120 Questions and Answers

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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Life - General Knowledge- Retirement and Other Insurance Concepts
  • 1. Life settlements
    • 2. Retirement plans
      • Qualified plans
      • Nonqualified plans
    • 3. Group life insurance
      • Conversion privilege
      • Contributory vs. noncontributory
    • 4. Social Security benefits
      • 5. Life insurance needs analysis and suitability
        • Personal insurance needs
        • Business insurance needs
      • 6. Tax treatment of insurance premiums, proceeds, and dividends
        • Individual life
        • Group life
        • Modified Endowment Contracts
      • 7. Third-party ownership
        - Life Provisions, Riders, Options, and Exclusions
        • 1. Policy provisions and options
          • Entire contract
          • Insuring clause
          • Free look
          • Consideration
          • Owner's rights
          • Beneficiary designations
          • Premium payment
          • Reinstatement
          • Policy loans, withdrawals, partial surrenders
          • Non-forfeiture options
          • Dividends and dividend options
          • Incontestability
          • Assignments
          • Suicide
          • Misstatement of age and gender
          • Settlement options
          • Accelerated death benefits
        • 2. Policy exclusions
          • War
          • Aviation
          • Dangerous occupation
        • 3. Policy riders
          • Waiver of premium and waiver of monthly deduction
          • Guaranteed insurability
          • Payor benefit
          • Accidental death and/or accidental death and dismemberment
          • Term riders
          • Other insureds
          • Long term care
          • Return of premium
          • Disability
          • Cost of Living
        - Types of Policies
        • 1. Combination plans and variations
          • Joint life (first to die)
          • Survivorship life (second to die)
        • 2. Annuities
          • Single and flexible premium
          • Immediate and deferred
          • Fixed and variable
          • Indexed
          • Accumulation and annuity periods
          • Payout options
        • 3. Interest/market-sensitive/adjustable life products
          • Universal life
          • Variable whole life
          • Variable universal life
          • Interest-sensitive whole life
          • Indexed life
        • 4. Term life
          • Types
          • Special features
        • 5. Traditional whole life products
          • Ordinary whole life
          • Limited-pay and single-premium life
        - Completing the Application, Underwriting, and Delivering the Policies
        • 1. Underwriting
          • Insurable interest
          • Medical information and consumer reports
          • Fair Credit Reporting Act
          • Risk classification
          • Stranger/Investor-owned life insurance
        • 2. Contract law
          • Elements of a contract
          • Unique aspects of the insurance contract
        • 3. Delivering the policy
          • When coverage begins
          • Explaining the policy and its provisions, riders, exclusions, and ratings to the client
        • 4. Completing the application
          • Required signatures
          • Changes in the application
          • Consequences of incomplete applications
          • Warranties and representations
          • Collecting the initial premium and issuing the receipt
          • Replacement
          • Disclosures at point of sale
          • USA PATRIOT Act and anti-money laundering
          • Gramm-Leach-Bliley Act privacy
        Topic 2: Life - Hawaii Specific- Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance
        • 1. Insurance Commissioner
          • General powers and duties
          • Examination of records
          • Notice of hearings
          • Penalties
        • 2. Licensing
          • General qualifications for licensing
          • Persons required to be licensed
          • Denial, suspension, and revocation of licenses
          • Renewal of license and continuing education
        • 3. Marketing practices
          • Unfair and deceptive practices
          • Reporting and accounting for premiums
          • Sharing commissions
          • Required records and record retention
          • Controlled business
          • Premiums
        • 4. Definitions
          • Authorized and unauthorized
          • Domestic, foreign, and alien
          • Stock, reciprocal and mutual
          • Certificate of authority
          • Insurance
        • 5. Guaranty Associations
          - Hawaii Laws and Rules Pertinent to Life Insurance Only
          • 1. Group Life
            • Group requirements
            • Assignment of proceeds
            • Conversion
          • 2. Policy Clauses and Provisions
            • Protection of beneficiaries from creditors
            • Policy loan interest rate
            • Spouse's rights
          • 3. Credit Life
            • 4. Variable Contracts
              • 5. Marketing methods and practices
                • Replacement
                • Annuities
              • 6. Participation in Surplus

                Insurance Licensing Hawaii Life Producer Exam (InsHI_Life01 OPLife01) Sample Questions:

                Question 1

                Which of the following policies accumulates the greatest amount of cash value per $1,000 of face amount?

                A. Decreasing Term
                B. Family Income
                C. Yearly Renewable Term
                D. Whole Life


                Question 2

                If an annuity buyer's guide and disclosure document are NOT provided at or before the time of application in Hawaii, the applicant must receive an additional free-look period of at least:

                A. 15 days
                B. 20 days
                C. 10 days
                D. 30 days


                Question 3

                Persons insured under a group life insurance policy may make all of the following individuals the beneficiaries of their certificate EXCEPT:

                A. a trust
                B. their child
                C. a policyholder
                D. their spouse


                Question 4

                Which life insurance product combines flexible premium characteristics with investment performance based on separate accounts selected by the policyowner?

                A. Credit Life
                B. Variable Universal Life
                C. Ordinary Whole Life
                D. Decreasing Term Life


                Question 5

                All of the following statements about a Guaranteed Insurability Option rider are true EXCEPT:

                A. Costs for new coverages purchased under this rider are calculated on the basis of the insured's attained age.
                B. It allows the insured to purchase additional coverage at marriage or the birth of a child.
                C. It requires the insured to provide evidence of insurability when exercising the option.
                D. It allows the insured to purchase additional coverage at specified ages.


                Solutions:

                Question 1
                Answer: D
                Question 2
                Answer: A
                Question 3
                Answer: C
                Question 4
                Answer: B
                Question 5
                Answer: C

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