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

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

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

                1. Before an insurance company may deliver variable life insurance or variable annuity contracts in Hawaii, the company must be licensed or organized to conduct:

                A) Life insurance or annuity business
                B) Title insurance business
                C) Casualty insurance business
                D) Property insurance business


                2. Which of the following items requires an insurance company to advise an applicant that the company intends to secure a report which includes details about his income and general reputation?

                A) Freedom of Information Act
                B) USA Patriot Act
                C) Fair Credit Reporting Act
                D) Uniform Provisions Law


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

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


                4. When an applicant has existing life insurance or annuity contracts, a replacing insurer must generally retain completed and signed replacement notices and related required sales documentation for at least:

                A) 5 years after termination or expiration of the proposed policy or contract
                B) 10 years after the replacement date
                C) 1 year after policy issue
                D) 3 years after application


                5. Any person who violates a cease and desist order of the Hawaii Insurance Commissioner is subject to suspension or revocation of license or a MAXIMUM fine for each violation of:

                A) $10,000
                B) $5,000
                C) $15,000
                D) $1,000


                Solutions:

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

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