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

  • 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
Topic 1: Life - Hawaii Specific- Hawaii Laws and Rules Pertinent to Life Insurance Only
  • 1. Group Life
    • Group requirements
    • Assignment of proceeds
    • Conversion
  • 2. Variable Contracts
    • 3. Participation in Surplus
      • 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. Credit Life
        - 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
          Topic 2: Life - General Knowledge- Types of Policies
          • 1. Term life
            • Types
            • Special features
          • 2. Traditional whole life products
            • Ordinary whole life
            • Limited-pay and single-premium life
          • 3. Annuities
            • Single and flexible premium
            • Immediate and deferred
            • Fixed and variable
            • Indexed
            • Accumulation and annuity periods
            • Payout options
          • 4. Combination plans and variations
            • Joint life (first to die)
            • Survivorship life (second to die)
          • 5. Interest/market-sensitive/adjustable life products
            • Universal life
            • Variable whole life
            • Variable universal life
            • Interest-sensitive whole life
            • Indexed life
          - Retirement and Other Insurance Concepts
          • 1. Retirement plans
            • Qualified plans
            • Nonqualified plans
          • 2. Life insurance needs analysis and suitability
            • Personal insurance needs
            • Business insurance needs
          • 3. Third-party ownership
            • 4. Tax treatment of insurance premiums, proceeds, and dividends
              • Individual life
              • Group life
              • Modified Endowment Contracts
            • 5. Group life insurance
              • Conversion privilege
              • Contributory vs. noncontributory
            • 6. Life settlements
              • 7. Social Security benefits
                - 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
                - Completing the Application, Underwriting, and Delivering the Policies
                • 1. 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
                • 2. Underwriting
                  • Insurable interest
                  • Medical information and consumer reports
                  • Fair Credit Reporting Act
                  • Risk classification
                  • Stranger/Investor-owned life insurance
                • 3. Contract law
                  • Elements of a contract
                  • Unique aspects of the insurance contract
                • 4. Delivering the policy
                  • When coverage begins
                  • Explaining the policy and its provisions, riders, exclusions, and ratings to the client

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

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

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


                2. The purpose of a Policy Summary is to:

                A) describe the issuing insurer to the insured
                B) provide the conditional receipt
                C) educate the client at the time of application about the types of insurance available
                D) highlight the coverages, riders, and exclusions of the issued policy


                3. Which of the following Annuities has benefits that reflect the investment experience of a separate account?

                A) Immediate
                B) Retirement
                C) Variable
                D) Fixed


                4. Policy loan interest rates for policies issued after June 22, 1982, may be set at:

                A) an 8% maximum or an adjustable rate permitted by law
                B) an 18% maximum
                C) a 10% maximum
                D) a 5% maximum or an adjustable rate permitted by law


                5. 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) 30 days
                B) 5 days
                C) 15 days
                D) 10 days


                Solutions:

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

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