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

Hawaii-Life-Producer real exams

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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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Life - General Knowledge- Retirement and Other Insurance Concepts
  • 1. Group life insurance
    • Conversion privilege
    • Contributory vs. noncontributory
  • 2. Tax treatment of insurance premiums, proceeds, and dividends
    • Individual life
    • Group life
    • Modified Endowment Contracts
  • 3. Third-party ownership
    • 4. Retirement plans
      • Qualified plans
      • Nonqualified plans
    • 5. Life settlements
      • 6. Social Security benefits
        • 7. Life insurance needs analysis and suitability
          • Personal insurance needs
          • Business insurance needs
        - 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
        - Life Provisions, Riders, Options, and Exclusions
        • 1. Policy exclusions
          • War
          • Aviation
          • Dangerous occupation
        • 2. 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
        • 3. 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
        - Completing the Application, Underwriting, and Delivering the Policies
        • 1. Contract law
          • Elements of a contract
          • Unique aspects of the insurance contract
        • 2. Underwriting
          • Insurable interest
          • Medical information and consumer reports
          • Fair Credit Reporting Act
          • Risk classification
          • Stranger/Investor-owned life insurance
        • 3. 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
        • 4. Delivering the policy
          • When coverage begins
          • Explaining the policy and its provisions, riders, exclusions, and ratings to the client
        Topic 2: Life - Hawaii Specific- Hawaii Laws and Rules Pertinent to Life Insurance Only
        • 1. Participation in Surplus
          • 2. Credit Life
            • 3. Group Life
              • Group requirements
              • Assignment of proceeds
              • Conversion
            • 4. Policy Clauses and Provisions
              • Protection of beneficiaries from creditors
              • Policy loan interest rate
              • Spouse's rights
            • 5. Marketing methods and practices
              • Replacement
              • Annuities
            • 6. Variable Contracts
              - 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

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

                Question 1

                Which of the following life insurance policies provides a 25-year-old with the most rapid growth of cash value?

                A. Life Paid-Up at Age 65
                B. Renewable Term to age 65
                C. Straight Life
                D. 20-Pay Life


                Question 2

                How often may the Insurance Commissioner examine the insurance account records, and transactions of an insurance producer?

                A. No more than once a year
                B. Only when requested to do so by the producer
                C. As often as the Commissioner deems advisable
                D. Only as often as is mutually agreed to by the Commissioner and the producer


                Question 3

                Under current Hawaii law, an owner who enters into a life settlement contract generally has the right to rescind the contract on or before:

                A. 30 days after execution
                B. 15 days after execution by all parties
                C. 60 days after execution
                D. 10 days after execution


                Question 4

                A replacement of life insurance is defined as any transaction in which:

                A. a new policy is added to an existing policy
                B. an existing policy is lapsed or surrendered for a new policy
                C. an existing policy is lost and another copy is received
                D. an existing policy's beneficiary is changed


                Question 5

                Unless its cash surrender value has already been paid, an individual annuity subject to Hawaii's standard provisions may generally be reinstated within how long after default in stipulated payments?

                A. 3 years
                B. 6 months
                C. 2 years
                D. 1 year


                Solutions:

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

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