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

Hawaii-Life-Producer actual test
  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
  • Updated: Aug 29, 2026
  • Q & A: 120 Questions and Answers
  • PDF Demo
  • PC Test Engine
  • Online Test Engine
  • Total Price: $59.99  

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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
Types of Policies15%- Combination plans and variations
  • 1. Joint life
    • 2. Survivorship life
      - Term life
      • 1. Types
        • Level
        • Decreasing
        • Return of premium
        • Annually renewable
      • 2. Special features
        • Renewable
        • Convertible
      - Annuities
      • 1. Immediate and deferred
        • 2. Single and flexible premium
          • 3. Accumulation and annuity periods
            • 4. Indexed
              • 5. Payout options
                • 6. Fixed and variable
                  - Interest/market-sensitive/adjustable life products
                  • 1. Variable whole life
                    • 2. Variable universal life
                      • 3. Indexed life
                        • 4. Universal life
                          • 5. Interest-sensitive whole life
                            - Traditional whole life products
                            • 1. Ordinary whole life
                              • 2. Limited-pay and single-premium life
                                Life Provisions, Riders, Options, and Exclusions15%- Policy provisions and options
                                • 1. Assignments
                                  • 2. Settlement options
                                    • 3. Non-forfeiture options
                                      • 4. Policy loans, withdrawals, and partial surrenders
                                        • 5. Reinstatement
                                          • 6. Misstatement of age and gender
                                            • 7. Beneficiary designations
                                              • 8. Premium payment
                                                • 9. Consideration
                                                  • 10. Suicide
                                                    • 11. Entire contract
                                                      • 12. Owner's rights
                                                        • 13. Incontestability
                                                          • 14. Free look
                                                            • 15. Accelerated death benefits
                                                              • 16. Insuring clause
                                                                • 17. Dividends and dividend options
                                                                  - Policy riders
                                                                  • 1. Accidental death and/or accidental death and dismemberment
                                                                    • 2. Term riders
                                                                      • 3. Cost of Living
                                                                        • 4. Disability
                                                                          • 5. Guaranteed insurability
                                                                            • 6. Return of premium
                                                                              • 7. Other insureds
                                                                                • 8. Waiver of premium and waiver of monthly deduction
                                                                                  • 9. Long term care
                                                                                    • 10. Payor benefit
                                                                                      - Policy exclusions
                                                                                      • 1. War
                                                                                        • 2. Dangerous occupation
                                                                                          • 3. Aviation
                                                                                            Retirement and Other Life Insurance Concepts8%- Social Security benefits
                                                                                            - Third-party ownership
                                                                                            - Tax treatment of insurance premiums, proceeds, and dividends
                                                                                            - Group life insurance
                                                                                            • 1. Contributory vs. noncontributory
                                                                                              • 2. Conversion privilege
                                                                                                - Life settlements
                                                                                                - Retirement plans
                                                                                                • 1. Qualified plans
                                                                                                  • 2. Nonqualified plans
                                                                                                    - Life insurance needs analysis and suitability
                                                                                                    • 1. Personal insurance needs
                                                                                                      • 2. Business insurance needs
                                                                                                        Completing the Application, Underwriting, and Delivering the Policies12%- Delivering the policy
                                                                                                        • 1. Explaining the policy, provisions, riders, exclusions, and ratings to the client
                                                                                                          • 2. When coverage begins
                                                                                                            - Contract law
                                                                                                            • 1. Elements of a contract
                                                                                                              • 2. Unique aspects of the insurance contract
                                                                                                                - Underwriting
                                                                                                                • 1. Fair Credit Reporting Act
                                                                                                                  • 2. Risk classification
                                                                                                                    • 3. Insurable interest
                                                                                                                      • 4. Stranger/investor-owned life insurance
                                                                                                                        • 5. Medical information and consumer reports
                                                                                                                          - Completing the application
                                                                                                                          • 1. Replacement
                                                                                                                            • 2. Collecting the initial premium and issuing the receipt
                                                                                                                              • 3. Changes in the application
                                                                                                                                • 4. Disclosures at point of sale
                                                                                                                                  • 5. Warranties and representations
                                                                                                                                    • 6. USA PATRIOT Act and anti-money laundering
                                                                                                                                      • 7. Required signatures
                                                                                                                                        • 8. Consequences of incomplete applications
                                                                                                                                          • 9. Gramm-Leach-Bliley Act privacy
                                                                                                                                            Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance23%- Licensing
                                                                                                                                            • 1. General qualifications for licensing
                                                                                                                                              • 2. Renewal of license and continuing education
                                                                                                                                                • 3. Persons required to be licensed
                                                                                                                                                  • 4. Denial, suspension, and revocation of licenses
                                                                                                                                                    - Marketing practices
                                                                                                                                                    • 1. Premiums
                                                                                                                                                      • 2. Unfair and deceptive practices
                                                                                                                                                        • 3. Reporting and accounting for premiums
                                                                                                                                                          • 4. Required records and record retention
                                                                                                                                                            • 5. Controlled business
                                                                                                                                                              • 6. Sharing commissions
                                                                                                                                                                - Guaranty associations
                                                                                                                                                                - Insurance Commissioner
                                                                                                                                                                • 1. Notice of hearings
                                                                                                                                                                  • 2. Penalties
                                                                                                                                                                    • 3. General powers and duties
                                                                                                                                                                      • 4. Examination of records
                                                                                                                                                                        - Definitions
                                                                                                                                                                        • 1. Certificate of authority
                                                                                                                                                                          • 2. Insurance
                                                                                                                                                                            • 3. Domestic, foreign, and alien
                                                                                                                                                                              • 4. Authorized and unauthorized
                                                                                                                                                                                • 5. Stock, reciprocal, and mutual
                                                                                                                                                                                  Hawaii Laws and Rules Pertinent to Life Insurance Only12%- Group life
                                                                                                                                                                                  • 1. Group requirements
                                                                                                                                                                                    • 2. Assignment of proceeds
                                                                                                                                                                                      • 3. Conversion
                                                                                                                                                                                        - Credit life
                                                                                                                                                                                        - Marketing methods and practices
                                                                                                                                                                                        • 1. Annuities
                                                                                                                                                                                          • Disclosure
                                                                                                                                                                                          • Suitability
                                                                                                                                                                                        • 2. Replacement
                                                                                                                                                                                          • Definition
                                                                                                                                                                                          • Duties of producers
                                                                                                                                                                                          • Duties of insurers that use producers
                                                                                                                                                                                          • Duties of replacing insurers that use producers
                                                                                                                                                                                          • Duties of the existing insurer
                                                                                                                                                                                        - Policy clauses and provisions
                                                                                                                                                                                        • 1. Spouse's rights
                                                                                                                                                                                          • 2. Policy loan interest rate
                                                                                                                                                                                            • 3. Protection of beneficiaries from creditors
                                                                                                                                                                                              - Variable contracts
                                                                                                                                                                                              - Participation in surplus

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

                                                                                                                                                                                              Question 1

                                                                                                                                                                                              If a father intends to purchase and retain ownership of a life policy on his eighteen-year-old son, which of the following signatures would be required on the application?

                                                                                                                                                                                              A. The son's signature only
                                                                                                                                                                                              B. Both the father's and the mother's signatures
                                                                                                                                                                                              C. Both the father's and the son's signatures
                                                                                                                                                                                              D. The father's signature only


                                                                                                                                                                                              Question 2

                                                                                                                                                                                              Which of the following statements is CORRECT about a Straight Life policy?

                                                                                                                                                                                              A. Premiums are payable for the period of time that insurance protection is provided.
                                                                                                                                                                                              B. The insurance company may modify the policy by exercising a Nonforfeiture option.
                                                                                                                                                                                              C. The cash value increases faster in the early policy years than in later years.
                                                                                                                                                                                              D. The policyowner may choose the schedule and amounts of premium payments.


                                                                                                                                                                                              Question 3

                                                                                                                                                                                              A producer who reimburses a portion of the premium as an inducement to purchase insurance is guilty of:

                                                                                                                                                                                              A. premium deviation
                                                                                                                                                                                              B. experience or schedule rating
                                                                                                                                                                                              C. rebating
                                                                                                                                                                                              D. premium discounting


                                                                                                                                                                                              Question 4

                                                                                                                                                                                              Coverage will begin on the day an insured signs a nonmedical application only if the producer takes which of the following actions on the same day?

                                                                                                                                                                                              A. Orders a Medical Information Bureau (MIB) report on the applicant
                                                                                                                                                                                              B. Sends the application to the insurance company
                                                                                                                                                                                              C. Countersigns the application
                                                                                                                                                                                              D. Collects the initial premium


                                                                                                                                                                                              Question 5

                                                                                                                                                                                              A Hawaii producer applies for authority to sell Variable Life and Variable Annuity products. In addition to the appropriate insurance licensing requirements, the producer application requires evidence that the producer:

                                                                                                                                                                                              A. has been a Life producer for five years
                                                                                                                                                                                              B. holds a Property insurance license
                                                                                                                                                                                              C. is registered for securities in Hawaii with FINRA
                                                                                                                                                                                              D. is employed directly by the Insurance Division


                                                                                                                                                                                              Solutions:

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

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