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:

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

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

                                                                                                                                                                                              1. Which of the following policies accumulates the greatest amount of cash value per $1,000 of face amount?

                                                                                                                                                                                              A) Whole Life
                                                                                                                                                                                              B) Yearly Renewable Term
                                                                                                                                                                                              C) Decreasing Term
                                                                                                                                                                                              D) Family Income


                                                                                                                                                                                              2. The number of continuing education credit hours that a Life and/or Accident and Health Producer must complete to have their license renewed is:

                                                                                                                                                                                              A) 18
                                                                                                                                                                                              B) 20
                                                                                                                                                                                              C) 22
                                                                                                                                                                                              D) 24


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

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


                                                                                                                                                                                              4. An employee's coverage under a Hawaii group life insurance policy terminates when the employee leaves employment. To exercise the statutory conversion privilege, the employee is entitled to obtain an individual life policy:

                                                                                                                                                                                              A) only after providing new evidence of insurability
                                                                                                                                                                                              B) only after completing a new medical examination
                                                                                                                                                                                              C) without evidence of insurability
                                                                                                                                                                                              D) only if the former employer pays the first premium


                                                                                                                                                                                              5. An insured under a life settlement transaction has a life expectancy of MORE than one year. A life settlement provider, broker, or authorized representative may generally contact the insured to verify health status no more frequently than:

                                                                                                                                                                                              A) once each month
                                                                                                                                                                                              B) once every three months
                                                                                                                                                                                              C) once every six months
                                                                                                                                                                                              D) once each week


                                                                                                                                                                                              Solutions:

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

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