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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: Oct 12, 2026

Q & A: 120 Questions and Answers

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About Insurance Licensing Hawaii-Life-Producer Exam

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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

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

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

                Question #1
                Which life insurance product combines flexible premium characteristics with investment performance based on separate accounts selected by the policyowner?

                A. Decreasing Term Life
                B. Credit Life
                C. Ordinary Whole Life
                D. Variable Universal Life


                Question #2
                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. 15 days
                B. 30 days
                C. 5 days
                D. 10 days


                Question #3
                A producer obtains a Hawaii Life line of authority after December 31, 2022 and intends to sell annuity products. Before soliciting an annuity sale, the producer must complete:

                A. no additional training until the first license renewal
                B. a two-credit ethics course only
                C. a one-time four-credit annuity training course
                D. ten hours of securities training only


                Question #4
                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. 60 days after execution
                C. 10 days after execution
                D. 15 days after execution by all parties


                Question #5
                If the insured's age was misstated on a Hawaii life insurance policy, the amount payable under the policy will generally be adjusted to:

                A. the original face amount without adjustment
                B. the total premiums paid plus interest
                C. the amount the premium would have purchased at the correct age
                D. twice the policy's accumulated cash value


                Solutions:

                Question #1
                Correct Answer: D
                Question #2
                Correct Answer: D
                Question #3
                Correct Answer: C
                Question #4
                Correct Answer: D
                Question #5
                Correct Answer: C

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