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

Insurance Licensing Hawaii-Life-Producer exam
  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
  • Updated: Aug 29, 2026
  • Q & A: 120 Questions and Answers
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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

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

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

                Question 1

                R is insured under a $25,000 Whole Life policy with an Accidental Death Benefit rider. If R dies as the result of a heart attack while driving to work, R's beneficiary will receive a maximum of which of the following amounts?

                A. $0
                B. $50,000
                C. $75,000
                D. $25,000


                Question 2

                A Hawaii resident wants to become licensed as a Life Settlement Broker. Before applying for the broker license, the individual generally must have held a Hawaii resident insurance producer license with a Life line of authority for at least:

                A. 6 months
                B. 5 years
                C. 1 year
                D. 2 years


                Question 3

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


                Question 4

                All of the following statements about a Guaranteed Insurability Option rider are true EXCEPT:

                A. It requires the insured to provide evidence of insurability when exercising the option.
                B. It allows the insured to purchase additional coverage at marriage or the birth of a child.
                C. Costs for new coverages purchased under this rider are calculated on the basis of the insured's attained age.
                D. It allows the insured to purchase additional coverage at specified ages.


                Question 5

                An individual annuity contract delivered in Hawaii that requires continuing stipulated payments must generally provide a grace period of at least:

                A. 30 days
                B. 15 days
                C. 45 days
                D. 10 days


                Solutions:

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

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