Insurance Licensing : Hawaii-Life-Producer Questions & Answers

Updated: Aug 29, 2026

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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. Marketing methods and practices
      • Replacement
      • Annuities
    • 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. Credit Life
      • 6. Participation in Surplus
        - Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance
        • 1. Licensing
          • General qualifications for licensing
          • Persons required to be licensed
          • Denial, suspension, and revocation of licenses
          • Renewal of license and continuing education
        • 2. Insurance Commissioner
          • General powers and duties
          • Examination of records
          • Notice of hearings
          • Penalties
        • 3. Marketing practices
          • Unfair and deceptive practices
          • Reporting and accounting for premiums
          • Sharing commissions
          • Required records and record retention
          • Controlled business
          • Premiums
        • 4. Definitions
          • Authorized and unauthorized
          • Domestic, foreign, and alien
          • Stock, reciprocal and mutual
          • Certificate of authority
          • Insurance
        • 5. Guaranty Associations
          Life - General Knowledge- Retirement and Other Insurance Concepts
          • 1. Social Security benefits
            • 2. Life settlements
              • 3. Retirement plans
                • Qualified plans
                • Nonqualified plans
              • 4. Group life insurance
                • Conversion privilege
                • Contributory vs. noncontributory
              • 5. Tax treatment of insurance premiums, proceeds, and dividends
                • Individual life
                • Group life
                • Modified Endowment Contracts
              • 6. Life insurance needs analysis and suitability
                • Personal insurance needs
                • Business insurance needs
              • 7. Third-party ownership
                - Types of Policies
                • 1. Traditional whole life products
                  • Ordinary whole life
                  • Limited-pay and single-premium life
                • 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. Term life
                  • Types
                  • Special features
                • 5. Annuities
                  • Single and flexible premium
                  • Immediate and deferred
                  • Fixed and variable
                  • Indexed
                  • Accumulation and annuity periods
                  • Payout options
                - 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. Delivering the policy
                  • When coverage begins
                  • Explaining the policy and its provisions, riders, exclusions, and ratings to the client
                • 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. Contract law
                  • Elements of a contract
                  • Unique aspects of the insurance contract

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

                Question 1

                Except when a statutory exception applies, Hawaii generally prohibits entering into a life settlement contract during what period following issuance of the life insurance policy?

                A. 6 months
                B. 5 years
                C. 1 year
                D. 2 years


                Question 2

                For a public employee association to qualify as the policyholder of a group life insurance policy in Hawaii, the association must have been formed:

                A. for purposes other than obtaining insurance
                B. solely for collecting insurance premiums
                C. primarily for the purpose of purchasing insurance
                D. by an insurance company


                Question 3

                Under Social Security, which of the following determines the amount of a worker's Disability Income benefit?

                A. National average monthly wage
                B. Primary Insurance Amount (PIA)
                C. State of residence average monthly wage
                D. Minimum taxable wage base


                Question 4

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

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


                Question 5

                At the date of issue, a Hawaii labor union group life insurance policy must generally cover at least:

                A. 25 members
                B. 15 members
                C. 10 members
                D. 20 members


                Solutions:

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

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