Insurance Licensing Hawaii-Life-Producer actual dump : 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 26, 2026
  • Q & A: 120 Questions and Answers

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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Retirement and Other Life Insurance Concepts8%- Third-party ownership
- Retirement plans
  • 1. Qualified plans
    • 2. Nonqualified plans
      - Life settlements
      - Group life insurance
      • 1. Contributory vs. noncontributory
        • 2. Conversion privilege
          - Social Security benefits
          - Life insurance needs analysis and suitability
          • 1. Personal insurance needs
            • 2. Business insurance needs
              - Tax treatment of insurance premiums, proceeds, and dividends
              Topic 2: Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance23%- Definitions
              • 1. Authorized and unauthorized
                • 2. Domestic, foreign, and alien
                  • 3. Insurance
                    • 4. Certificate of authority
                      • 5. Stock, reciprocal, and mutual
                        - Licensing
                        • 1. Renewal of license and continuing education
                          • 2. Persons required to be licensed
                            • 3. Denial, suspension, and revocation of licenses
                              • 4. General qualifications for licensing
                                - Guaranty associations
                                - Insurance Commissioner
                                • 1. Examination of records
                                  • 2. Penalties
                                    • 3. Notice of hearings
                                      • 4. General powers and duties
                                        - Marketing practices
                                        • 1. Controlled business
                                          • 2. Unfair and deceptive practices
                                            • 3. Premiums
                                              • 4. Required records and record retention
                                                • 5. Sharing commissions
                                                  • 6. Reporting and accounting for premiums
                                                    Topic 3: Life Provisions, Riders, Options, and Exclusions15%- Policy exclusions
                                                    • 1. Dangerous occupation
                                                      • 2. Aviation
                                                        • 3. War
                                                          - Policy riders
                                                          • 1. Payor benefit
                                                            • 2. Waiver of premium and waiver of monthly deduction
                                                              • 3. Long term care
                                                                • 4. Accidental death and/or accidental death and dismemberment
                                                                  • 5. Return of premium
                                                                    • 6. Cost of Living
                                                                      • 7. Guaranteed insurability
                                                                        • 8. Other insureds
                                                                          • 9. Disability
                                                                            • 10. Term riders
                                                                              - Policy provisions and options
                                                                              • 1. Non-forfeiture options
                                                                                • 2. Policy loans, withdrawals, and partial surrenders
                                                                                  • 3. Accelerated death benefits
                                                                                    • 4. Suicide
                                                                                      • 5. Beneficiary designations
                                                                                        • 6. Insuring clause
                                                                                          • 7. Entire contract
                                                                                            • 8. Free look
                                                                                              • 9. Consideration
                                                                                                • 10. Premium payment
                                                                                                  • 11. Incontestability
                                                                                                    • 12. Misstatement of age and gender
                                                                                                      • 13. Assignments
                                                                                                        • 14. Settlement options
                                                                                                          • 15. Reinstatement
                                                                                                            • 16. Owner's rights
                                                                                                              • 17. Dividends and dividend options
                                                                                                                Topic 4: Completing the Application, Underwriting, and Delivering the Policies12%- Completing the application
                                                                                                                • 1. Required signatures
                                                                                                                  • 2. USA PATRIOT Act and anti-money laundering
                                                                                                                    • 3. Collecting the initial premium and issuing the receipt
                                                                                                                      • 4. Replacement
                                                                                                                        • 5. Consequences of incomplete applications
                                                                                                                          • 6. Changes in the application
                                                                                                                            • 7. Disclosures at point of sale
                                                                                                                              • 8. Gramm-Leach-Bliley Act privacy
                                                                                                                                • 9. Warranties and representations
                                                                                                                                  - Underwriting
                                                                                                                                  • 1. Fair Credit Reporting Act
                                                                                                                                    • 2. Insurable interest
                                                                                                                                      • 3. Risk classification
                                                                                                                                        • 4. Medical information and consumer reports
                                                                                                                                          • 5. Stranger/investor-owned life insurance
                                                                                                                                            - Contract law
                                                                                                                                            • 1. Unique aspects of the insurance contract
                                                                                                                                              • 2. Elements of a contract
                                                                                                                                                - Delivering the policy
                                                                                                                                                • 1. When coverage begins
                                                                                                                                                  • 2. Explaining the policy, provisions, riders, exclusions, and ratings to the client
                                                                                                                                                    Topic 5: Hawaii Laws and Rules Pertinent to Life Insurance Only12%- Policy clauses and provisions
                                                                                                                                                    • 1. Policy loan interest rate
                                                                                                                                                      • 2. Protection of beneficiaries from creditors
                                                                                                                                                        • 3. Spouse's rights
                                                                                                                                                          - Credit life
                                                                                                                                                          - Variable contracts
                                                                                                                                                          - Participation in surplus
                                                                                                                                                          - Group life
                                                                                                                                                          • 1. Group requirements
                                                                                                                                                            • 2. Assignment of proceeds
                                                                                                                                                              • 3. Conversion
                                                                                                                                                                - Marketing methods and practices
                                                                                                                                                                • 1. Replacement
                                                                                                                                                                  • Definition
                                                                                                                                                                  • Duties of producers
                                                                                                                                                                  • Duties of insurers that use producers
                                                                                                                                                                  • Duties of replacing insurers that use producers
                                                                                                                                                                  • Duties of the existing insurer
                                                                                                                                                                • 2. Annuities
                                                                                                                                                                  • Disclosure
                                                                                                                                                                  • Suitability
                                                                                                                                                                Topic 6: Types of Policies15%- Interest/market-sensitive/adjustable life products
                                                                                                                                                                • 1. Indexed life
                                                                                                                                                                  • 2. Variable universal life
                                                                                                                                                                    • 3. Interest-sensitive whole life
                                                                                                                                                                      • 4. Universal life
                                                                                                                                                                        • 5. Variable whole life
                                                                                                                                                                          - Combination plans and variations
                                                                                                                                                                          • 1. Survivorship life
                                                                                                                                                                            • 2. Joint life
                                                                                                                                                                              - Term life
                                                                                                                                                                              • 1. Special features
                                                                                                                                                                                • Renewable
                                                                                                                                                                                • Convertible
                                                                                                                                                                              • 2. Types
                                                                                                                                                                                • Level
                                                                                                                                                                                • Decreasing
                                                                                                                                                                                • Return of premium
                                                                                                                                                                                • Annually renewable
                                                                                                                                                                              - Traditional whole life products
                                                                                                                                                                              • 1. Limited-pay and single-premium life
                                                                                                                                                                                • 2. Ordinary whole life
                                                                                                                                                                                  - Annuities
                                                                                                                                                                                  • 1. Single and flexible premium
                                                                                                                                                                                    • 2. Accumulation and annuity periods
                                                                                                                                                                                      • 3. Payout options
                                                                                                                                                                                        • 4. Indexed
                                                                                                                                                                                          • 5. Immediate and deferred
                                                                                                                                                                                            • 6. Fixed and variable

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

                                                                                                                                                                                              1. A life insurance policy is issued after a basic illustration was used in the sale. Under Hawaii's life insurance illustration requirements, the insurer must generally retain the applicable signed illustration records until:

                                                                                                                                                                                              A) one year after policy delivery
                                                                                                                                                                                              B) five years after the insured's death
                                                                                                                                                                                              C) three years after policy issue
                                                                                                                                                                                              D) three years after the policy is no longer in force


                                                                                                                                                                                              2. An insurer appoints a licensed producer as its agent in Hawaii. The insurer must generally file the notice of appointment with the Insurance Commissioner within:

                                                                                                                                                                                              A) 15 days
                                                                                                                                                                                              B) 5 days
                                                                                                                                                                                              C) 10 days
                                                                                                                                                                                              D) 30 days


                                                                                                                                                                                              3. A producer may have placed excessive controlled business when insurance written on the producer and the producer's family during a two-year period exceeds:

                                                                                                                                                                                              A) one-half of the total face amount written by the producer
                                                                                                                                                                                              B) one-third of the total premiums written by the producer
                                                                                                                                                                                              C) one-half of the amount of insurance premiums written by the producer on all risks
                                                                                                                                                                                              D) one-quarter of the insurance premiums written by the producer on other risks


                                                                                                                                                                                              4. A method of providing life insurance on the husband of a person covered by a life insurance policy is by:

                                                                                                                                                                                              A) an Accidental Death and Dismemberment (AD & D) rider
                                                                                                                                                                                              B) a Guaranteed Insurability Option rider
                                                                                                                                                                                              C) a Spouse Term rider
                                                                                                                                                                                              D) a Return of Premium rider


                                                                                                                                                                                              5. An insured employee dies during the period in which the employee was entitled to convert terminated Hawaii group life coverage to an individual policy. The employee had NOT yet submitted the conversion application or paid the first premium. The insurer must generally:

                                                                                                                                                                                              A) pay only the group policy's cash surrender value
                                                                                                                                                                                              B) deny the claim because no individual policy was issued
                                                                                                                                                                                              C) pay the amount of insurance the employee was entitled to convert as a claim under the group policy
                                                                                                                                                                                              D) refund the employee's prior group premiums only


                                                                                                                                                                                              Solutions:

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

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