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: Oct 11, 2026     Q & A: 120 Questions and Answers

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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

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

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

                                                                                                                                                                                              Question #1

                                                                                                                                                                                              An annuity annual report is REQUIRED for which of the following?

                                                                                                                                                                                              • A. Deferred annuities
                                                                                                                                                                                              • B. Fixed annuities once annuitized
                                                                                                                                                                                              • C. Variable annuity once annuitized
                                                                                                                                                                                              • D. Immediate annuities
                                                                                                                                                                                              Reveal Solution  Discussion  0

                                                                                                                                                                                              Correct Answer: A  🗳️

                                                                                                                                                                                              Explanation: Only visible for Prep4sures members. You can sign-up / login (it's free).

                                                                                                                                                                                              Question #2

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

                                                                                                                                                                                              • A. Ordinary Whole Life
                                                                                                                                                                                              • B. Variable Universal Life
                                                                                                                                                                                              • C. Decreasing Term Life
                                                                                                                                                                                              • D. Credit Life
                                                                                                                                                                                              Reveal Solution  Discussion  0

                                                                                                                                                                                              Correct Answer: B  🗳️

                                                                                                                                                                                              Explanation: Only visible for Prep4sures members. You can sign-up / login (it's free).

                                                                                                                                                                                              Question #3

                                                                                                                                                                                              Coverage will begin on the day an insured signs a nonmedical application only if the producer takes which of the following actions on the same day?

                                                                                                                                                                                              • A. Sends the application to the insurance company
                                                                                                                                                                                              • B. Orders a Medical Information Bureau (MIB) report on the applicant
                                                                                                                                                                                              • C. Collects the initial premium
                                                                                                                                                                                              • D. Countersigns the application
                                                                                                                                                                                              Reveal Solution  Discussion  0

                                                                                                                                                                                              Correct Answer: C  🗳️

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                                                                                                                                                                                              Question #4

                                                                                                                                                                                              Prior to the purchase of an annuity, the producer shall make every reasonable effort to obtain all of the following information EXCEPT the consumer's:

                                                                                                                                                                                              • A. investment objectives
                                                                                                                                                                                              • B. tax status
                                                                                                                                                                                              • C. business partner
                                                                                                                                                                                              • D. financial status
                                                                                                                                                                                              Reveal Solution  Discussion  0

                                                                                                                                                                                              Correct Answer: C  🗳️

                                                                                                                                                                                              Explanation: Only visible for Prep4sures members. You can sign-up / login (it's free).

                                                                                                                                                                                              Question #5

                                                                                                                                                                                              Life insurance proceeds payable to all of the following beneficiaries are free from attachment by the insured's creditors EXCEPT those payable to the insured's:

                                                                                                                                                                                              • A. child
                                                                                                                                                                                              • B. spouse
                                                                                                                                                                                              • C. parent
                                                                                                                                                                                              • D. estate
                                                                                                                                                                                              Reveal Solution  Discussion  0

                                                                                                                                                                                              Correct Answer: D  🗳️

                                                                                                                                                                                              Explanation: Only visible for Prep4sures members. You can sign-up / login (it's free).

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