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| Section | Objectives |
|---|---|
| Topic 1: Life - General Knowledge | - Retirement and Other Insurance Concepts
|
| Topic 2: Life - Hawaii Specific | - Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance
|
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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