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 26, 2026     Q & A: 120 Questions and Answers

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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionObjectives
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. Definitions
    • Authorized and unauthorized
    • Domestic, foreign, and alien
    • Stock, reciprocal and mutual
    • Certificate of authority
    • Insurance
  • 4. Guaranty Associations
    • 5. Marketing practices
      • Unfair and deceptive practices
      • Reporting and accounting for premiums
      • Sharing commissions
      • Required records and record retention
      • Controlled business
      • Premiums
    - Hawaii Laws and Rules Pertinent to Life Insurance Only
    • 1. Participation in Surplus
      • 2. Credit Life
        • 3. Policy Clauses and Provisions
          • Protection of beneficiaries from creditors
          • Policy loan interest rate
          • Spouse's rights
        • 4. Variable Contracts
          • 5. Marketing methods and practices
            • Replacement
            • Annuities
          • 6. Group Life
            • Group requirements
            • Assignment of proceeds
            • Conversion
          Life - General Knowledge- Life Provisions, Riders, Options, and Exclusions
          • 1. 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
          • 2. 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
          • 3. Policy exclusions
            • War
            • Aviation
            • Dangerous occupation
          - Retirement and Other Insurance Concepts
          • 1. Retirement plans
            • Qualified plans
            • Nonqualified plans
          • 2. Tax treatment of insurance premiums, proceeds, and dividends
            • Individual life
            • Group life
            • Modified Endowment Contracts
          • 3. Life settlements
            • 4. Social Security benefits
              • 5. Third-party ownership
                • 6. Life insurance needs analysis and suitability
                  • Personal insurance needs
                  • Business insurance needs
                • 7. Group life insurance
                  • Conversion privilege
                  • Contributory vs. noncontributory
                - Completing the Application, Underwriting, and Delivering the Policies
                • 1. Delivering the policy
                  • When coverage begins
                  • Explaining the policy and its provisions, riders, exclusions, and ratings to the client
                • 2. 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
                • 3. Underwriting
                  • Insurable interest
                  • Medical information and consumer reports
                  • Fair Credit Reporting Act
                  • Risk classification
                  • Stranger/Investor-owned life insurance
                • 4. Contract law
                  • Elements of a contract
                  • Unique aspects of the insurance contract
                - Types of Policies
                • 1. Combination plans and variations
                  • Joint life (first to die)
                  • Survivorship life (second to die)
                • 2. Interest/market-sensitive/adjustable life products
                  • Universal life
                  • Variable whole life
                  • Variable universal life
                  • Interest-sensitive whole life
                  • Indexed life
                • 3. Traditional whole life products
                  • Ordinary whole life
                  • Limited-pay and single-premium life
                • 4. Annuities
                  • Single and flexible premium
                  • Immediate and deferred
                  • Fixed and variable
                  • Indexed
                  • Accumulation and annuity periods
                  • Payout options
                • 5. Term life
                  • Types
                  • Special features

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

                1. A Hawaii producer deposits insurance premium funds into a properly designated premium trustee account that earns interest. The producer may retain the interest for personal use only if:

                A) the producer reports the interest as taxable income
                B) the producer has held a license for at least five years
                C) the insurer or person entitled to the funds gives prior written consent
                D) the amount of interest is less than $100


                2. Which of the following Annuities has benefits that reflect the investment experience of a separate account?

                A) Retirement
                B) Fixed
                C) Variable
                D) Immediate


                3. The purpose of a Policy Summary is to:

                A) describe the issuing insurer to the insured
                B) provide the conditional receipt
                C) highlight the coverages, riders, and exclusions of the issued policy
                D) educate the client at the time of application about the types of insurance available


                4. Employing any method of marketing having the effect of or tending to induce the purchase of insurance through fright or threat, whether explicit or implied, is an example of:

                A) coercion
                B) cold lead advertising
                C) twisting
                D) rebating


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

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