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  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
  • Last Updated: Sep 06, 2026
  • Q & A: 120 Questions and Answers
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  • Exam Code: Hawaii-Life-Producer
  • Exam Name: Hawaii Life Producer Exam (InsHI_Life01 OPLife01)
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  • Q & A: 120 Questions and Answers
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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionObjectives
Life - General Knowledge- Types of Policies
  • 1. Annuities
    • Single and flexible premium
    • Immediate and deferred
    • Fixed and variable
    • Indexed
    • Accumulation and annuity periods
    • Payout options
  • 2. Traditional whole life products
    • Ordinary whole life
    • Limited-pay and single-premium life
  • 3. Interest/market-sensitive/adjustable life products
    • Universal life
    • Variable whole life
    • Variable universal life
    • Interest-sensitive whole life
    • Indexed life
  • 4. Combination plans and variations
    • Joint life (first to die)
    • Survivorship life (second to die)
  • 5. Term life
    • Types
    • Special features
- Retirement and Other Insurance Concepts
  • 1. Tax treatment of insurance premiums, proceeds, and dividends
    • Individual life
    • Group life
    • Modified Endowment Contracts
  • 2. Life insurance needs analysis and suitability
    • Personal insurance needs
    • Business insurance needs
  • 3. Third-party ownership
    • 4. Group life insurance
      • Conversion privilege
      • Contributory vs. noncontributory
    • 5. Social Security benefits
      • 6. Retirement plans
        • Qualified plans
        • Nonqualified plans
      • 7. Life settlements
        - Life Provisions, Riders, Options, and Exclusions
        • 1. Policy exclusions
          • War
          • Aviation
          • Dangerous occupation
        • 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 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
        - 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. Contract law
          • Elements of a contract
          • Unique aspects of the insurance contract
        • 3. Underwriting
          • Insurable interest
          • Medical information and consumer reports
          • Fair Credit Reporting Act
          • Risk classification
          • Stranger/Investor-owned life insurance
        • 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 - Hawaii Specific- Hawaii Laws and Rules Pertinent to Life Insurance Only
        • 1. Policy Clauses and Provisions
          • Protection of beneficiaries from creditors
          • Policy loan interest rate
          • Spouse's rights
        • 2. Marketing methods and practices
          • Replacement
          • Annuities
        • 3. Variable Contracts
          • 4. Group Life
            • Group requirements
            • Assignment of proceeds
            • Conversion
          • 5. Credit Life
            • 6. Participation in Surplus
              - Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance
              • 1. Guaranty Associations
                • 2. Marketing practices
                  • Unfair and deceptive practices
                  • Reporting and accounting for premiums
                  • Sharing commissions
                  • Required records and record retention
                  • Controlled business
                  • Premiums
                • 3. Licensing
                  • General qualifications for licensing
                  • Persons required to be licensed
                  • Denial, suspension, and revocation of licenses
                  • Renewal of license and continuing education
                • 4. Definitions
                  • Authorized and unauthorized
                  • Domestic, foreign, and alien
                  • Stock, reciprocal and mutual
                  • Certificate of authority
                  • Insurance
                • 5. Insurance Commissioner
                  • General powers and duties
                  • Examination of records
                  • Notice of hearings
                  • Penalties

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

                Question 1

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

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


                Question 2

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

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


                Question 3

                How many years are producers required to keep records for Continuing Education?

                A. 1
                B. 4
                C. 2
                D. 3


                Question 4

                In a contract of adhesion, any confusing language would be interpreted in favor of which of the following parties?

                A. The insurance company
                B. The insured
                C. The attorney
                D. The insurance regulatory authority


                Question 5

                Which of the following statements is CORRECT about a Straight Life policy?

                A. The cash value increases faster in the early policy years than in later years.
                B. The insurance company may modify the policy by exercising a Nonforfeiture option.
                C. Premiums are payable for the period of time that insurance protection is provided.
                D. The policyowner may choose the schedule and amounts of premium payments.


                Solutions:

                Question 1
                Answer: C
                Question 2
                Answer: C
                Question 3
                Answer: B
                Question 4
                Answer: B
                Question 5
                Answer: C

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