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 27, 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 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. Licensing
    • General qualifications for licensing
    • Persons required to be licensed
    • Denial, suspension, and revocation of licenses
    • Renewal of license and continuing education
  • 3. Guaranty Associations
    • 4. Definitions
      • Authorized and unauthorized
      • Domestic, foreign, and alien
      • Stock, reciprocal and mutual
      • Certificate of authority
      • Insurance
    • 5. Marketing practices
      • Unfair and deceptive practices
      • Reporting and accounting for premiums
      • Sharing commissions
      • Required records and record retention
      • Controlled business
      • Premiums
    - Hawaii Laws and Rules Pertinent to Life Insurance Only
    • 1. Participation in Surplus
      • 2. Marketing methods and practices
        • Replacement
        • Annuities
      • 3. Variable Contracts
        • 4. Credit Life
          • 5. Group Life
            • Group requirements
            • Assignment of proceeds
            • Conversion
          • 6. Policy Clauses and Provisions
            • Protection of beneficiaries from creditors
            • Policy loan interest rate
            • Spouse's rights
          Life - General Knowledge- Retirement and Other Insurance Concepts
          • 1. Tax treatment of insurance premiums, proceeds, and dividends
            • Individual life
            • Group life
            • Modified Endowment Contracts
          • 2. Third-party ownership
            • 3. Retirement plans
              • Qualified plans
              • Nonqualified plans
            • 4. Life settlements
              • 5. Social Security benefits
                • 6. Group life insurance
                  • Conversion privilege
                  • Contributory vs. noncontributory
                • 7. Life insurance needs analysis and suitability
                  • Personal insurance needs
                  • Business insurance needs
                - Types of Policies
                • 1. Combination plans and variations
                  • Joint life (first to die)
                  • Survivorship life (second to die)
                • 2. Interest/market-sensitive/adjustable life products
                  • Universal life
                  • Variable whole life
                  • Variable universal life
                  • Interest-sensitive whole life
                  • Indexed life
                • 3. Traditional whole life products
                  • Ordinary whole life
                  • Limited-pay and single-premium life
                • 4. Annuities
                  • Single and flexible premium
                  • Immediate and deferred
                  • Fixed and variable
                  • Indexed
                  • Accumulation and annuity periods
                  • Payout options
                • 5. Term life
                  • Types
                  • Special features
                - 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. Delivering the policy
                  • When coverage begins
                  • Explaining the policy and its provisions, riders, exclusions, and ratings to the client
                • 4. Contract law
                  • Elements of a contract
                  • Unique aspects of the insurance contract
                - 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 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
                • 3. Policy exclusions
                  • War
                  • Aviation
                  • Dangerous occupation
                Insurance Licensing Hawaii Life Producer Exam (InsHI_Life01 OPLife01) Sample Questions:

                1. Making maliciously critical or false statements about the financial condition of an insurance company is an unfair method of competition known as:

                A) discrimination
                B) coercion
                C) defamation
                D) intimidation


                2. If the insured commits suicide during the first policy year, the insurer will:

                A) return all premiums less company expenses
                B) return all premiums and not pay the claim
                C) pay the face amount but not double indemnity
                D) pay 10% of the policy face value


                3. If an applicant for a Life policy does not pay the premium when the application is submitted and the insurance company subsequently approves the application and issues the contract, coverage becomes effective at which of the following times?

                A) On the date that the application is taken by the producer
                B) On the date that the application is approved by the insurance company
                C) When the policy is mailed to the producer
                D) When the policy is delivered and the initial premium is paid to the producer


                4. An individual annuity contract delivered in Hawaii that requires continuing stipulated payments must generally provide a grace period of at least:

                A) 45 days
                B) 30 days
                C) 15 days
                D) 10 days


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


                Solutions:

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

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