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

Hawaii-Life-Producer pass collection

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

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

                                                                                                                                                                                              1. An individual purchases a life insurance policy delivered in Hawaii. After reviewing the contract, the purchaser decides that the coverage does not meet their needs. Under Hawaii law, within how many days after receiving the policy may the purchaser return it for a refund of premium?

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


                                                                                                                                                                                              2. Any person who violates a cease and desist order of the Hawaii Insurance Commissioner is subject to suspension or revocation of license or a MAXIMUM fine for each violation of:

                                                                                                                                                                                              A) $15,000
                                                                                                                                                                                              B) $10,000
                                                                                                                                                                                              C) $1,000
                                                                                                                                                                                              D) $5,000


                                                                                                                                                                                              3. Which of the following statements about an individual life policy premium is CORRECT?

                                                                                                                                                                                              A) It must contain all charges.
                                                                                                                                                                                              B) It excludes policy issuance fees.
                                                                                                                                                                                              C) It excludes expenses and load charges.
                                                                                                                                                                                              D) It excludes all taxes.


                                                                                                                                                                                              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. A life insurance contract will generally be classified as a Modified Endowment Contract (MEC) if it:

                                                                                                                                                                                              A) allows the policyowner to borrow against cash value
                                                                                                                                                                                              B) accumulates any cash value during the first policy year
                                                                                                                                                                                              C) has a death benefit exceeding $50,000
                                                                                                                                                                                              D) fails the federal seven-pay test


                                                                                                                                                                                              Solutions:

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

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