Insurance Licensing Hawaii-Life-Producer Q&A - in .pdf

  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
  • Updated: Aug 28, 2026
  • Q & A: 120 Questions and Answers
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  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
  • Updated: Aug 28, 2026
  • Q & A: 120 Questions and Answers
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  • PC Test Engine Price: $59.99
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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

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

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

                                                                                                                                                                                              1. Records supporting an annuity recommendation, including consumer information and disclosures, must generally be maintained or made available to the Hawaii Insurance Commissioner for how long after the insurance transaction is completed?

                                                                                                                                                                                              A) 10 years
                                                                                                                                                                                              B) 3 years
                                                                                                                                                                                              C) 2 years
                                                                                                                                                                                              D) 5 years


                                                                                                                                                                                              2. After an owner executes a Hawaii life settlement contract, the life settlement provider must generally notify the insurer that issued the policy within:

                                                                                                                                                                                              A) 20 days
                                                                                                                                                                                              B) 5 days
                                                                                                                                                                                              C) 30 days
                                                                                                                                                                                              D) 10 days


                                                                                                                                                                                              3. An individual life insurance policy delivered in Hawaii must generally provide a grace period of:

                                                                                                                                                                                              A) 20 days
                                                                                                                                                                                              B) 30 days
                                                                                                                                                                                              C) 60 days
                                                                                                                                                                                              D) 10 days


                                                                                                                                                                                              4. An employee's coverage under a Hawaii group life insurance policy terminates when the employee leaves employment. To exercise the statutory conversion privilege, the employee is entitled to obtain an individual life policy:

                                                                                                                                                                                              A) only after completing a new medical examination
                                                                                                                                                                                              B) only if the former employer pays the first premium
                                                                                                                                                                                              C) only after providing new evidence of insurability
                                                                                                                                                                                              D) without evidence of insurability


                                                                                                                                                                                              5. 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) 30 days
                                                                                                                                                                                              D) 10 days


                                                                                                                                                                                              Solutions:

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

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